Further trading statement – six months ended December 2025

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
("RCL FOODS" or "the Group")

FURTHER TRADING STATEMENT – SIX MONTHS ENDED DECEMBER 2025

Shareholders are referred to the trading statement published on the
Stock Exchange News Service ("SENS") on 3 February 2026. RCL FOODS
reported that its earnings per share ("EPS") from total operations
for the six months ended December 2025("current period") would be at
least 54.0 cents (40.0%) lower when compared to the reported EPS from
total operations of 135.1 cents for the six months ended December
2024 ("comparative period"); that its headline earnings per share
("HEPS") from total operations for the current period would be at
least 27.4 cents (25.0%) lower when compared to the reported HEPS
from total operations of 109.4 cents for the comparative period; and
that a further trading statement would be published as soon as the
Group had reasonable certainty on the expected HEPS and EPS ranges
for the current period.

Shareholders are advised that RCL FOODS expects its EPS from total
operations for the current period to be between 74.3 cents (-45.0%)
and 77.5 cents (-42.6%) when compared to the reported EPS from total
operations of 135.1 cents for the comparative period. HEPS from total
operations for the current period is expected to be between 74.3
cents (-32.1%) and 77.5 cents (-29.2%) when compared to the reported
HEPS from total operations of 109.4 cents for the comparative period.
In the current period, headline adjustments were insignificant with
a marginal EPS and HEPS expected to be reported.

The Group's financial results for the current period are expected to
be released on SENS on 2 March 2026.

The financial information on which this trading statement is based
has not been reviewed and reported on by the Group's external auditors
and is the responsibility of the directors.

Westville
24 February 2026

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

Date: 24-02-2026 03:00:00
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