Trading statement for the year ended 1 October 2023 RFG 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 STATEMENT FOR THE YEAR ENDED 1 OCTOBER 2023 Shareholders are advised that RFG's headline earnings for the year ended 1 October 2023 ("the period") are expected to be between 33% and 38% higher than the R360.7 million reported for year to 2 October 2022. Revenue growth was driven by price inflation as the group continued to recover the high input cost increases of the past two years, particularly in the regional segment. The regional operating margin improved strongly, mainly due to the recovery of these costs across most product categories, in particular fruit juice, ready meals, dry foods and meat, as well as the robust growth in sales and profitability in the pie category. The strengthening of the international operating margin was supported by stable export pricing across the product portfolio and the weakening of the Rand against RFG's basket of trading currencies during the period. Earnings for the period are expected to be as follows: Year ended Year ended 2 October 2022 1 October 2023 Reported Expected range Earnings per share 137.9c 30% - 35% higher 179.3c – 186.2c Headline earnings per 137.9c 33% - 38% higher 183.4c – 190.3c share (HEPS) Diluted HEPS 137.3c 33% - 38% higher 182.6c – 189.5c The estimate financial information on which this trading statement is based is the responsibility of the directors and has not been reviewed or reported on by the group's independent external auditor. The group's financial results for the period will be released on the Stock Exchange News Service of the JSE on 22 November 2023. Groot Drakenstein 10 November 2023 Sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 10-11-2023 10:00:00 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.