Completion of sale of shares in Oceana by Tiger Brands TIGER BRANDS LIMITED “Tiger Brands” or “the Company” (Incorporated in the Republic of South Africa) (Registration number 1994/017881/06) Share code: TBS ISIN: ZAE000071080 COMPLETION OF THE SALE OF SHARES IN OCEANA GROUP LIMITED (“OCEANA”) BY TIGER BRANDS Shareholders are referred to the announcement released on SENS on 24 January 2019 regarding the proposed sale by Tiger Brands of 8,000,000 ordinary shares in Oceana to Brimstone Investment Corporation (“the Transaction”), and the updated announcement issued on 1 March 2019 on SENS wherein shareholders were advised that the conditions precedent in relation to the Transaction have been duly fulfilled by Brimstone. Shareholders are further advised that the Transaction was successfully completed on 20 March 2019. Pursuant to the above, Tiger Brands will have 49,104,774 remaining shares in Oceana. Tiger Brands is proceeding with the necessary steps to complete the unbundling of these shares to its shareholders during the second quarter of the 2019 calendar year. A further announcement will be made in due course setting out the detailed terms of the unbundling and containing important notices and guidance for Tiger Brands shareholders. Bryanston 20 March 2019 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Financial Advisor Standard Chartered Bank Legal Advisor Edward Nathan Sonnenbergs Date: 20/03/2019 03:00:00 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.