RCL FOODS LIMITED - Further trading statement - year ended June 2023

Further trading statement - year ended June 2023

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“RCL FOODS" or “the Group”)

FURTHER TRADING STATEMENT - YEAR ENDED JUNE 2023

Shareholders are referred to the trading statement published on the
Stock Exchange News Service (“SENS”) on 4 July 2023. RCL FOODS
reported that its headline earnings per share (“HEPS”) from total
operations* for the year ended June 2023 (“current period”) would be
at least 35.6 cents (30.0%) lower when compared to the reported HEPS
from total operations of 118.6 cents for the year ended June 2022
(“comparative period”); that its earnings per share (“EPS”) from
total operations for the current period would be at least 34.2 cents
(30%) lower when compared to the reported EPS from total operations
of 114.0 cents for the comparative period; and that a further trading
statement would be published as soon as the Group had reasonable
certainty on the expected HEPS and EPS ranges for the current period.

Shareholders are advised that RCL FOODS expects its HEPS from total
operations for the current period to be between 64.0 cents (-46.0%)
and 72.0 cents (-39.3%) when compared to the reported HEPS from total
operations of 118.6 cents for the comparative period. EPS from total
operations for the current period is expected to be between 65.0
cents (-43.0%) and 73.0 cents (-36.0%) when compared to the reported
EPS from total operations of 114.0 cents for the comparative period.

As highlighted in the trading statement published on 4 July 2023, the
decline from the comparative period is largely driven by the impact
of the special levy raised by the South African Sugar Association
("SASA") on the Group’s Sugar business unit; unrecovered feed costs
in Rainbow; and the significant impact of loadshedding across all
operations in the current period, coupled with a R127,4 million
negative fair value adjustment processed at year-end reporting date
relating to the Group’s minority shareholding in The LiveKindly
Collective.

The Group’s financial results for the current period are expected to
be released on SENS on Monday 4 September 2023.

The financial information on which this trading statement is based
has not been reviewed and reported on by the Group’s
external auditors.

*The Vector Logistics segment has been reported as a discontinued
operation in the current period results. The information provided in
this trading statement relates to total operations, being the total
of continuing and discontinued operations.

Durban
23 August 2023

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 23-08-2023 11:50:00
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