RCL FOODS LIMITED - Appointment of future audit firm

Appointment of future audit firm

RCL Foods Limited
(Incorporated in the Republic of South Africa)
Registration number 1966/004972/06
ISIN: ZAE000179438
Share code: RCL
("RCL FOODS")

APPOINTMENT OF FUTURE AUDIT FIRM

Shareholders are advised that, in accordance with the mandatory
audit firm rotation rule issued by the Independent Regulatory Board
for Auditors ("IRBA"), the RCL FOODS board has endorsed the
recommendation by its Audit Committee, following a comprehensive
tender process, to appoint Ernst & Young Inc. ("EY") as external
auditors of RCL FOODS, with effect from the financial year ending
June 2024.

RCL FOODS intends to propose an indicative non-binding resolution
at the RCL FOODS 2021 Annual General Meeting (AGM) for the
appointment of EY, with effect from the 2024 financial year,
although the official appointment will be made at the RCL FOODS
2023 AGM.

The incumbent external auditors, PricewaterhouseCoopers Inc.
("PwC") will continue to act as external auditors of RCL FOODS for
the financial years ending June 2022 and June 2023. PwC’s
appointment will be terminated upon the conclusion of the audit of
the financial year ending June 2023 in accordance with the
mandatory audit firm rotation rule issued by the IRBA.

RCL FOODS will release a further announcement on the Stock Exchange
News Service of the JSE once shareholder approval in respect of
EY’s appointment has been obtained.


Durban
29 June 2021

Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 29-06-2021 03:58:00
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