Trading Statement Rhodes Food Group Holdings Limited (Previously Rhodes Food Group Holdings Proprietary Limited) (Incorporated in the Republic of South Africa) Registration number 2012/074392/06 JSE share code: RFG ISIN: ZAE000191979 ("the group") TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are required to publish a trading statement as soon as they are satisfied with a reasonable degree of certainty that the financial results for the reporting period will differ by at least 20% from the financial results for the previous corresponding reporting period. Shareholders are advised that the group expects the following increase in earnings: Six months to Six months to 30 March 2014 29 March 2015 Expected Earnings per share (EPS) 17.1c 53% - 58% higher 26.2c – 27.0c Headline earnings per share (HEPS) 16.9c 55% - 60% higher 26.2c – 27.0c The earnings guidance is calculated assuming that the 221 million shares in issue post the listing of the group on the JSE on 2 October 2014 applied in both the 2014 and 2015 periods. Normalised earnings, excluding the one-off listing costs of R21.8 million in the 2015 period, are expected to be as follows: Six months to Six months to 30 March 2014 29 March 2015 Expected Normalised EPS 17.1c 111% - 116% higher 36.1c – 36.9c Normalised HEPS 16.9c 114% - 119% higher 36.1c – 36.9c The information in this trading statement has not been reviewed or reported on by the group's independent auditor. The group's interim results for the six months ended 29 March 2015 will be released on the Stock Exchange News Service of the JSE on 25 May 2015. Groot Drakenstein 5 May 2015 Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited) Date: 05/05/2015 08:08:00 Supplied by www.sharenet.co.za 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.