Trading update for the ten months ended July 2019 Rhodes Food Group Holdings Limited (Incorporated in the Republic of South Africa) Registration number 2012/074392/06 JSE share code: RFG ISIN: ZAE000191979 ("RFG" or "the group") TRADING UPDATE FOR THE TEN MONTHS ENDED JULY 2019 Group turnover for the ten month period ended July 2019 ("the period") increased by 9.6%. Regional segment In the weak macroeconomic and consumer environment being experienced in the group's regional segment (South Africa and the rest of Africa), turnover for the period increased by 8.8%. Regional long life turnover grew by 10.8%, with volume growth of 6.4%. Good growth was reported in canned meats, fruit juice and dry foods. Market share was gained or maintained across core product categories. Fresh foods turnover increased by 5.8%, with volumes unchanged on the prior period. Ready meals and infant food performed well while the pie category again proved resilient in the constrained consumer spending climate. While the regional business is expected to trade at similar turnover levels in the remaining two months of the financial year, margin expansion is proving challenging in the current macro environment. International segment International turnover increased by 13.4%, driven by higher volumes, a favourable shift in mix towards higher value-add products and the 9.7% depreciation of the Rand against RFG's major trading currencies. Turnover growth was supported by good increases in the export of fruit snacks in plastic cups to the USA and stronger canned fruit sales, with lower exports of industrial products (purees and concentrates). The international operating margin has strengthened as a result of the favourable product mix and the weaker Rand. The financial information on which this voluntary trading update is based has not been audited, reviewed or reported on by the group's independent external auditors. The group's annual financial results for the year ending 29 September 2019 will be released on the Stock Exchange News Service of the JSE on 19 November 2019. Groot Drakenstein 16 September 2019 Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 16/09/2019 08:54:00 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.