Notice in terms of section 45(5) of the Companies Act, 71 of 2008 TIGER BRANDS LIMITED “Tiger Brands” or “the Company” (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 Notice in terms of section 45(5) of the Companies Act, 71 of 2008 (the Act) of the granting of financial assistance by Tiger Brands Limited 1. Notice is hereby given that the Board of Directors of the Company: A. Passed a resolution authorising the Company to provide direct or indirect financial assistance as defined by S 45(1) of the Act, for amounts and on such terms and conditions as the board determine d, pursuant to authorities granted in terms of : o The authorising Shareholders Resolutions taken at Annual General Meetings of the Company held on 9 February 2015 and 16 February 2016 ; o the provisions of the Act; o the JSE Listings Requirements; and o the Company’s Memorandum of Incorporation. B. Were satisfied, before authorising the Company to provide the financial assistance, that: o Immediately after providing the financial assistance, the Company would satisfy the solvency and liquidity test set out in section 4 of the Act; o The terms upon which the financial assistance has been given were fair and reasonable to the Company; and o The Company’s memorandum of incorporation has no restrictions or conditions with respect to giving of the financial assistance. 2. The above payments constituted financial assistance, which over the period 1 October 2015 to 30 September 2016, cumulatively did not exceed one-tenth of 1% of the Company’s net worth. This notice to shareholders is issued for compliance reasons only and shareholders are not required to respond. 15 November 2016 Ms T Naidoo Company Secretary Tiger Brands Limited Reg. No. 1944/017881/06 Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd Date: 15/11/2016 10:00:00 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.