TIGER BRANDS LIMITED - Dealing in securities by an associate of a director

Dealing in securities by an associate of a director

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 an associate of a director

In compliance with paragraphs 3.63 – 3.74 of the JSE Limited Listings
Requirements, shareholders are advised of the following share transaction
by an associate of a director of the Company:

Name of Director                      Mr S Sithole
Name of Associate                     Value Capital Partners
Nature of transaction                 On-market disposal of shares
Class of security                     Ordinary shares
Nature of interest                    Indirect beneficial
                                      Mr S. Sithole has an indirect
                                      beneficial interest in Value
                                      Capital Partners, which is the
                                      registered investment manager to
                                      the Value Capital Partners H4 QI
                                      Hedge Fund and various other funds.

Transaction date                      9 February 2026
Number of ordinary shares             2,200,000
Price per share                       R340.00
Total value                           R748,000,000.00


Commenting on the sell down, Mr Sam Sithole, Executive Director of Value
Capital Partners (VCP) and a member of the Tiger Brands Board commented:

"VCP remains a significant shareholder in Tiger Brands, holding 4,564,900
shares (or 67.5% of its original investment), reflecting VCP's continued
confidence in Tiger Brands' strategic direction and growth potential. VCP
looks forward to continuing to support management and the Board on the
value unlock journey kick-started under Tjaart Kruger's able leadership".

In terms of paragraph 3.66 of the Listings Requirements, the necessary
clearance to deal in the above securities has been obtained. Following the
transaction above Value Capital Partners H4 QI Hedge Fund and various other
funds managed by Value Capital Partners hold 4,564,900 shares in Tiger
Brands Limited, representing 67.5% of their aggregate holdings prior to the
transaction.


Waterfall City
12 February 2026

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 12-02-2026 04:20:00
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.