Dealings in securities by an associate of directors and by an associate of a director of a major subsidiary

RFG HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2012/074392/06)
JSE share code: RFG
ISIN: ZAE000191979
("RFG")

DEALINGS IN SECURITIES BY AN ASSOCIATE OF DIRECTORS AND BY AN ASSOCIATE OF A DIRECTOR OF A
MAJOR SUBSIDIARY

In compliance with the JSE Limited Listings Requirements, the following information is disclosed:

   Directors:                             Garth Willis and Chad Smart
   Company:                               RFG Holdings Limited
   Name of associate:                     Capitalworks Private Equity GP Proprietary Limited, as general
                                          partner of Capitalworks RFG Partnership
   Relationship to director:              Garth Willis and Chad Smart are indirectly shareholders and
                                          directors within the control structure of Capitalworks Private
                                          Equity GP Proprietary Limited, as general partner of Capitalworks
                                          RFG Partnership and have an indirect economic interest in RFG by
                                          way of a carried interest in relation to the investments held in
                                          RFG by Capitalworks Private Equity GP Proprietary Limited, as
                                          general partner of Capitalworks RFG Partnership.
   Nature of transaction:                 Off market purchase of securities
   Class of securities:                   Ordinary shares
   Date of transaction:                   8 June 2021
   Number of securities:                  500 000
   Purchase price:                        R13.15
   Total value of transaction:            R6 575 000.00
   Nature of interest:                    Indirect beneficial
   Clearance obtained:                    Not Required - associate dealing

   Director                               C Costaras
   Company                                Rhodes Food Group (Proprietary) Limited, a major
                                          subsidiary of the Company
   Name of associate                      Costaras Family Trust
   Relationship to director               Family trust
   Date of transaction                    8 June 2021
   Nature of transaction                  Off market disposal of securities by a trust, of which
                                          the director is a trustee and a beneficiary
   Class of securities                    Ordinary shares
   Number of securities                   500 000
   Selling Price                          R13.15
   Total value of transaction             R6 575 000.00
   Nature of interest                     Indirect beneficial
   Clearance obtained                     Obtained, although not required – associate dealing

Groot Drakenstein
9 June 2021

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

Date: 09-06-2021 01:15:00

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