Takeover Special Committee ruling and termination of the Offer SOVEREIGN FOOD INVESTMENTS LIMITED Incorporated in the Republic of South Africa Registration Number: 1995/003990/06 JSE Code: SOV ISIN Number: ZAE000009221 (“Sovereign”) TAKEOVER SPECIAL COMMITTEE RULING AND TERMINATION OF THE OFFER Unless otherwise defined, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the announcement published by Sovereign on SENS on Thursday, 6 October 2016. Shareholders are hereby advised that the Takeover Special Committee handed down its ruling today in respect of the Ruling Application made by Sovereign (“Ruling”). In terms of the Ruling, the Takeover Special Committee unanimously decided that: - the Purported Waiver by Country Bird is contrary to the Companies Act and the Regulations; - as a result, the Offer lapsed on 14 September 2016; and - Country Bird is required to pay the costs of the Takeover Special Committee. In the circumstances, Shareholders who accepted the Offer in respect of all or any of their Shares are hereby notified that: - they will not have their Shares acquired by Country Bird nor receive the cash consideration of R9.00 per Share, cum any dividends paid by Sovereign from 6 July 2016 onwards, in terms of the Offer; and - they are entitled to freely trade in their Shares with immediate effect. Port Elizabeth 8 November 2016 Corporate advisor and sponsor One Capital Attorneys to Sovereign Cliffe Dekker Hofmeyr Inc. Date: 08/11/2016 01:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.