TIGER BRANDS LIMITED - Dealing in securities by a Director of the Company

Dealing in securities by a Director of the Company

TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
("Tiger Brands" or the "Company")

Dealing in securities by a Director of the Company

In terms of the announcement released on SENS on 19 December 2023,
a director of the Company who is also the Chief Executive Officer,
Mr TN Kruger (the "Participant"), accepted an offer of Conditional
Shares in terms of a specifically assigned long-term share award.

In compliance with paragraphs 3.63 - 3.74 of the Listings
Requirements of JSE Limited, shareholders are advised that the
Conditional Shares have now vested:



Transaction date:               31 December 2025
Nature of transaction:          Off-market vesting of ordinary
                                shares
Class of securities:            Ordinary shares
No. of Conditional Shares       165,868
vested:                         R60,737,544.24
Value* of shares vested
Nature of interest:             Direct beneficial

*The value of the shares is based on the deemed share price of
(R366.18), being the closing share price of Tiger Brands on the
Transaction Date.

The ordinary shares settled on the Participant upon vesting have
been transferred to the Participant's personal broker account.
These shares are subject to a further restriction period during
which the Participant is prohibited from trading in the shares
until the release date of 31 December 2026.

In accordance with section 3.66 of the Listings Requirements, the
necessary clearance was obtained with respect to the above
transactions.

Waterfall City
2 January 2026
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 02-01-2026 02:59:00
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