Notice of change to CEO and Executive Director and voluntary trading statement for the 12 months ended 30 September TIGER BRANDS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 ("Tiger Brands" or "the Company") NOTICE OF CHANGE TO CHIEF EXECUTIVE OFFICER & EXECUTIVE DIRECTOR AND VOLUNTARY TRADING STATEMENT FOR THE 12 MONTHS ENDED 30 SEPTEMBER 2023 Following the Board's annual review of the Company's strategy, the Board concluded that new leadership was required to respond to the challenges currently facing the Company. Shareholders are advised, in accordance with section 3.59 of the JSE Limited Listings Requirements, that the Board of Directors ("Board") and Mr Noel Doyle have jointly agreed that Noel will step down as chief executive officer ("CEO") of the Company and accordingly as executive director and member of the social, ethics and transformation committee. During his tenure as CEO, Noel and his team were required to navigate the challenges of Covid 19, civil unrest, global supply changes and high levels of inflation. In this period the Company's underlying operating profit trajectory was stabilised and there have been many significant improvements in key internal operating metrics. The Board thanks Noel for his contribution over 20 years of service with Tiger Brands and wishes him well for the future. After a targeted process to identify a suitable successor, the Board is pleased to announce that Mr Tjaart Kruger has been appointed as CEO and executive director of the Company effective 1 November 2023. Tjaart is a CA (SA) with a PMD from Harvard Business School and has more than 30 years' leadership experience at multiple leading South African FMCG companies. He sharpened his career through previous experience at Tiger Brands, where he fulfilled the role of managing director of the pharmaceuticals and grains divisions over the period 2001 – 2007 and his most recent leadership role serving as CEO of Premier Foods over the period 2011 – 2021, where he successfully led Premier Foods' expansion and growth strategy. Noel will remain available to Tiger Brands until 31 March 2024 to facilitate a proper handover. Tjaart has signed a 26-month contract with Tiger Brands. The Board believes that this appointment will provide certainty to the Company, the market and other key stakeholders and accelerate the execution of the Company's strategy and value creation for shareholders. The Board will commence a process to identify a suitable successor for the CEO role in due course to ensure an orderly transition at the end of Tjaart's tenure. The Board congratulates Tjaart on his appointment and looks forward to his contribution to the Company and the Board. Voluntary Trading Statement for the year ended 30 September 2023 Group operating income for the year ended 30 September 2023 will end lower than FY22. The ongoing challenges of fully recovering higher input costs persisted in the second half resulting in marginally lower volumes. This, together with the year-on-year impact of incremental retrenchment costs of approximately R100 million proved too significant to be offset by the group's cost reduction initiatives, which will end ahead of the R460 million target previously guided. Good performances from Beverages, Home & Personal Care, Tiger Food Services Solutions (previously Out of Home), Exports and Deciduous Fruit were more than offset by poor performances in Rice, Bakeries (despite recording volume growth), Groceries and Snacks & Treats, with the latter two businesses operating in categories marked by absolute volume declines. Despite lower operating income, group earnings were supported by better-than-expected growth in income from associates. Shareholders are accordingly advised that: • Earnings per share (EPS) from total operations for the year ending 30 September 2023 is expected to decline by between -9% and -2% (or between -159 cents and -35 cents) than the 1 762.2 cents reported in FY22. • Headline earnings per share (HEPS) from total operations for the year ending 30 September 2023 is expected to differ by between -5% and +2% (or between -85 cents and +34 cents) than the 1 702.4 cents reported in FY22. The variation of the EPS range when compared to the range provided for HEPS, is due to the non-recurrence of certain capital profit items accounted for in EPS, which were excluded from HEPS, in FY22. The financial information above has not been reviewed or reported on by the Company´s auditors. Tiger Brands' results for the year ended 30 September 2023 are expected to be released on SENS on or about 1 December 2023. 20 October 2023 Bryanston Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 20-10-2023 08:45:00 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. 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