Dealings in securities 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 Dealings in securities In terms of the Tiger Brands Limited 2013 Share Plan, the directors accepted Performance Vesting Shares (“PVS”) which have now vested. In compliance with paragraphs 3.63 to 3.74 of the JSE Listings Requirements, shareholders are advised of the following information relating to the dealing in securities by directors of the Company and a director of a major subsidiary of the Company as set out below: Name Position No of Ordinary No of Ordinary Total value of shares vested shares sold shares sold (PVS) NP Doyle Director 8 370 3 420 R1 440 383,62 CFH Vaux Director 8 340 8 340 R3 512 514,43 AG Kirk Director of Major 7 620 7 620 R3 209 275,78 Subsidiary The following are applicable to all of the above: Date of transaction: 1 March 2017 High price: R421,2364 Low Price R420,2600 VWAP R421,1648 Class of securities: Ordinary shares Nature of transaction: Off market vesting of PVS and on-market sale of shares Nature of interest: Direct In accordance with section 3.66 of the Listings Requirements the necessary clearance was obtained. Bryanston 6 March 2017 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 06/03/2017 05:00:00 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.