Transactions in securities SOVEREIGN FOOD INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration Number 1995/003990/06 JSE Code: SOV ISIN Number: ZAE000009221 (“Sovereign” or the “Company”) TRANSACTIONS IN SECURITIES Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the joint firm intention announcement published by Sovereign, Capitalworks and Bidco on SENS on 10 August 2017 (“Firm Intention Announcement”). In terms of the Firm Intention Announcement, Sovereign Shareholders were advised of the firm intention by Bidco to make an offer to acquire all or a portion of the issued ordinary shares in Sovereign (“Sovereign Shares”), excluding the Sovereign Shares held by Sovereign’s subsidiaries (the “Offer”). Each of the directors of the Company and directors of a major subsidiary of the Company (collectively, the “Directors”) and certain of their associates (as set out below), and the Sovereign Food Investments Limited Employee Share Ownership Plan Trust (“Share Trust”), has irrevocably undertaken, in its capacity as a Sovereign Shareholder, to dispose of Sovereign Shares in terms of the Scheme or the General Offer, as the case may be (“Transactions”). The following information pertaining to the Transactions is hereby disclosed to Sovereign Shareholders in terms of paragraphs 3.63 to 3.66 of the Listings Requirements. Name of Director: Mr T Pritchard Name of company of which he is a director: Sovereign Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 500 000 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R6 000 000.00 Nature of Director’s interest: Direct beneficial On-market or off-market: N/A Name of Director: Mr JA Bester Name of company of which he is a director: Sovereign Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 63 237 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R758 844.00 Nature of Director’s interest: Direct beneficial On-market or off-market: N/A Name of Director: Mr JA Bester Name of company of which he is a director: Sovereign Name of associate: The Bester Family Trust (“Trust”) Relationship with Director: Mr JA Bester is a trustee of the Trust Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 19 788 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R237 456.00 Nature of Director’s interest: Indirect beneficial On-market or off-market: N/A Name of Director: Mr CP Davies Name of company of which he is a director: Sovereign Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 7 575 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R90 900.00 Nature of Director’s interest: Direct beneficial On-market or off-market: N/A Name of Director: Mr C Coombes Name of company of which he is a director: Sovereign Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 1 268 891 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R15 226 692.00 Nature of Director’s interest: Direct beneficial On-market or off-market: N/A Name of Director: Mr C Coombes Name of company of which he is a director: Sovereign Name of associate: Mrs I Coombes Relationship with Director: Mrs I Coombes is the wife of Mr C Coombes Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 269 895 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R3 238 740.00 Nature of Director’s interest: Indirect beneficial On-market or off-market: N/A Name of Director: Mr GL Coley Name of company of which he is a director: Sovereign Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 80 700 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R968 400.00 Nature of Director’s interest: Direct beneficial On-market or off-market: N/A Name of Director: Mr G Walter Name of company of which he is a director: Crown Chickens Proprietary Limited ("Crown Chickens") Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 352 873 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R4 234 476.00 Nature of Director’s interest: Direct beneficial On-market or off-market: N/A Name of Director: Mr B van Rensburg Name of company of which he is a director: Crown Chickens Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 313 000 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R3 756 000.00 Nature of Director’s interest: Direct beneficial On-market or off-market: N/A Name of entity: Share Trust Date of transaction: 10 August 2017 Class of securities: Ordinary shares Number of Sovereign Shares: 1 350 940 Price per Sovereign Share: R12.00, being the Offer Consideration before accrued interest (if any) Value of transaction: R16 211 280.00 Nature of interest: Direct beneficial On-market or off-market: N/A In terms of paragraph 3.66 of the Listings Requirements clearance has been given for the Directors and the ESOP to deal in Sovereign Shares pursuant to the Transactions. It should be noted that the Sovereign Shares subject to the Transactions have not yet been disposed of and will only be disposed of by the Directors and the ESOP to Bidco after the Offer opens and subject to the General Offer becoming operative. Port Elizabeth 11 August 2017 Sponsor One Capital Date: 11/08/2017 05:22:00 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.