Trading Statement PREMIER FISHING AND BRANDS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/018598/06) Share Code: PFB ISIN ZAE000247516 (“PFB” or “the Group” or “the Company”) TRADING STATEMENT In accordance with paragraph 3.4(b) of the Listing Requirements of JSE Limited, a listed company is required to publish a trading statement as soon as they are reasonably certain that the financial results for the financial period to be reported on next will differ by at least 20% from those of the prior comparative period. Accordingly, the Group expects to report basic earnings per share (“EPS”) for the year ending 31 August 2020 of between 0.24 and 2.84 cents per share, representing a decrease of between 78.1% and 98.1%, compared to the restated EPS of 12.96 cents per share reported on for the year ended 31 August 2019. The Group also expects to report headline earnings per share (“HEPS”) for the year ending 31 August 2020 of between 1.38 and 3.60 cents per share, representing a decrease of between 67.49% and 87.49%, compared to restated HEPS of 11.06 cents per share reported on for the year ended 31 August 2019. The restated EPS and HEPS is as a consequence of a prior period error as set out below. Prior period error We draw attention to the fact that the prior period comparatives have been restated. The reason for such restatement is due to the following: • During the current financial year, it was noted that stock sold under a bill and hold arrangement in the prior financial year which was only expected to be delivered at a later date, was incorrectly accounted for, resulting in an overstatement of stock of R12.5 million. • During the current financial year, it was noted that the prior financial year amortisation on the fishing licences was not accounted for correctly and resulted in an overstatement on the intangibles R7.7 million. The restatement resulted in: • EPS decreasing by 5.60 cents to restated EPS of 12.96 cents from an EPS of 18.56 cents, as previously reported; and • HEPS decreasing by 5.59 cents to restated HEPS of 11.06 cents from an HEPS of 16.65, as previously reported. The consolidated financial results for the year ended 31 August 2020, which will provide further information on the above restatements, are expected to be released on or about Monday, 23 November 2020. The financial information on which this trading statement is based has not been reviewed or reported on by the Group’s auditors. Cape Town 20 November 2020 JSE Sponsor Vunani Capital Date: 20-11-2020 05:15:00 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.