Acceptance of allocated phantom share rights in terms of the Quantum Foods Equity Settled Phantom Share Plan QUANTUM FOODS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2013/208598/06) Share code: QFH ISIN: ZAE000193686 (“Quantum Foods” or the “Company”) ACCEPTANCE OF ALLOCATED PHANTOM SHARE RIGHTS IN TERMS OF THE QUANTUM FOODS HOLDINGS LIMITED EQUITY SETTLED PHANTOM SHARE PLAN In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (“JSE Listings Requirements”), shareholders of Quantum Foods are hereby advised of the following dealings in securities by executive directors of the Company: Nature of transaction: Acceptance of Phantom Share Rights (“PSRs”) in terms of the Quantum Foods Holdings Limited Equity Settled Phantom Share Plan Class of securities: PSRs linked to Quantum Foods ordinary shares (“Ordinary Shares”) Date of PSRs grant: 15 February 2021 Strike price of PSRs: R6.0850 Vesting dates of PSRs: 15 February 2024, 15 February 2025 and 15 February 2026 Period of exercise: Participants have until midnight on the twelfth month anniversary of the relevant vesting date during which to exercise vested PSRs Nature and extent of interest: Direct beneficial On-market or off-market: Off-market Clearance given in terms of paragraph 3.66 of the JSE Yes Listings Requirements: Transaction 1: Name of executive director: Hendrik Albertus Lourens Date of acceptance of the PSRs: 4 March 2021 Number of PSRs allocated: 1 168 730 Total value of transaction: Refer to note 3 below Transaction 2: Name of executive director: Andre Hugo Muller Date of acceptance of the PSRs: 4 March 2021 Number of PSRs allocated: 307 084 Total value of transaction: Refer to note 3 below Notes: 1. 50% of the granted PSRs are time-based and will vest in 3 tranches of 33.33% each on the vesting dates specified above. 2. 50% of the granted PSRs are performance-based and will vest in 3 tranches of 33.33% each on the vesting dates specified above, subject to a formula based on, inter alia, the compounded annual growth rate (“CAGR”) of the Company’s adjusted headline earnings per share (“HEPS”) from baseline HEPS. The CAGR is measured from the financial year prior to the date of grant of the PSRs to the financial year prior to the date of vesting. 3. The total number of Ordinary Shares that will be issued to the executive directors pursuant to the exercise of the PSRs will be determined in accordance with, inter alia, a formula based on the growth in the Ordinary Share price from the date of grant of the PSRs to the date of exercise. Accordingly, the total number of Ordinary Shares that will be settled and total value thereof, will only be determined at a future date. 4. A further announcement will be published on SENS following the exercise of the PSRs by each executive director, disclosing the exact number of Ordinary Shares settled and the total value thereof, in accordance with the JSE Listings Requirements. Wellington 5 March 2021 Corporate advisor and Sponsor One Capital Attorneys Webber Wentzel Date: 05-03-2021 01:30:00 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.