Settlement of awards under KAL Group’s Long-Term Incentive Plan KAL GROUP LIMITED (Previously Kaap Agri Limited) (Incorporated in the Republic of South Africa) (Registration number: 2011/113185/06) ISIN: ZAE000244711 Share code: KAL ("KAL Group" or the "Company") SETTLEMENT OF AWARDS UNDER KAL GROUP'S LONG-TERM INCENTIVE PLAN Shareholders are referred to the KAL Group SENS announcement dated 30 September 2022 ("Announcement") advising, inter alia, that the Company's remuneration committee had approved the conversion of KAL Group's previous management share incentive scheme ("Previous Scheme") to a non-dilutionary equity-settled long-term incentive plan ("LTIP"). The Announcement further advised that rights previously granted under the Previous Scheme have migrated and been converted to nil-cost options ("NCOs") governed by the amended rules of the LTIP, although the vesting dates and performance hurdles applicable to such grants remain in place ("Converted Awards"). In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the after-tax net-equity settlement of Converted Awards, which vested on 1 October 2023, is disclosed: 1. NAME OF DIRECTOR S Walsh COMPANY OF WHICH A DIRECTOR KAL Group STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary shares NATURE OF TRANSACTION After-tax net-equity settlement of NCOs, resulting in the delivery of ordinary shares to a participant under the LTIP (off-market transaction) TRANSACTION DATE 16 January 2024 (SETTLEMENT DATE) (Settlement to occur within 120 days of the applicable vesting date of 1 October 2023) NUMBER OF NCOs VESTED 61 447 TOTAL VALUE OF NCOs SETTLED R2 330 724.53 NUMBER OF ORDINARY SHARES 33 796 RECEIVED (POST-TAX) NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION 2. NAME OF DIRECTOR GW Sim COMPANY OF WHICH A DIRECTOR KAL Group STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary shares NATURE OF TRANSACTION After-tax net-equity settlement of NCOs, resulting in the delivery of ordinary shares to a participant under the LTIP (off-market transaction) TRANSACTION DATE 16 January 2024 (SETTLEMENT DATE) (Settlement to occur within 120 days of the applicable vesting date of 1 October 2023) NUMBER OF NCOs VESTED 25 688 TOTAL VALUE OF NCOs SETTLED R974 362.49 NUMBER OF ORDINARY SHARES 14 128 RECEIVED (POST-TAX) NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION 3. NAME OF DIRECTOR DC Gempies COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited (a major subsidiary of KAL Group) STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary shares NATURE OF TRANSACTION After-tax net-equity settlement of NCOs, resulting in the delivery of ordinary shares to a participant under the LTIP (off-market transaction) TRANSACTION DATE 16 January 2024 (SETTLEMENT DATE) (Settlement to occur within 120 days of the applicable vesting date of 1 October 2023) NUMBER OF NCOs VESTED 14 545 TOTAL VALUE OF NCOs SETTLED R551 701.28 NUMBER OF ORDINARY SHARES 8 000 RECEIVED (POST-TAX) NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION 4. NAME OF DIRECTOR H Smit COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited (a major subsidiary of KAL Group) STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary shares NATURE OF TRANSACTION After-tax net-equity settlement of NCOs, resulting in the delivery of ordinary shares to a participant under the LTIP (off-market transaction) TRANSACTION DATE 16 January 2024 (SETTLEMENT DATE) (Settlement to occur within 120 days of the applicable vesting date of 1 October 2023) NUMBER OF NCOs VESTED 13 402 TOTAL VALUE OF NCOs SETTLED R508 346.54 NUMBER OF ORDINARY SHARES 7 371 RECEIVED (POST-TAX) NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION 5. NAME OF DIRECTOR T Sulaiman-Bray COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited (a major subsidiary of KAL Group) STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary shares NATURE OF TRANSACTION After-tax net-equity settlement of NCOs, resulting in the delivery of ordinary shares to a participant under the LTIP (off-market transaction) TRANSACTION DATE 16 January 2024 (SETTLEMENT DATE) (Settlement to occur within 120 days of the applicable vesting date of 1 October 2023) NUMBER OF NCOs VESTED 10 441 TOTAL VALUE OF NCOs SETTLED R396 033.90 NUMBER OF ORDINARY SHARES 5 743 RECEIVED (POST-TAX) NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Paarl 16 January 2024 Sponsor PSG Capital Date: 16-01-2024 03:10:00 Produced by the JSE SENS Department. 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