KAL GROUP LIMITED - Settlement of Awards under KAL Groups Long-Term Incentive Plan

Settlement of Awards under KAL Group’s Long-Term Incentive Plan

KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
ISIN: ZAE000244711
Share code: KAL
("KAL Group")

SETTLEMENT OF AWARDS UNDER KAL GROUP'S LONG-TERM INCENTIVE PLAN

In compliance with the JSE Listings Requirements, the following information regarding the
vesting, automatic exercise and after-tax net-equity settlement of awards in terms of the KAL
Group Long-term Incentive Plan ("LTIP"), is disclosed:

1.
     NAME OF DIRECTOR                             GW Sim
     COMPANY OF WHICH A DIRECTOR                  KAL Group
     STATUS: EXECUTIVE/NON-EXECUTIVE              Executive
     TYPE AND CLASS OF SECURITIES                 Nil-cost options ("NCOs") in relation to
                                                  ordinary shares
     NATURE OF DEALING                            Vesting, automatic exercise and after-tax
                                                  net-equity settlement of NCOs, resulting
                                                  in the delivery of ordinary shares to a
                                                  participant under the LTIP
                                                  (off-market dealing)
     DEALING DATE                                 24 May 2026
     (VESTING AND EXERCISE)
     SETTLEMENT DATE                              25 May 2026
     NUMBER OF NCOs VESTED                        67 552
     TOTAL VALUE OF NCOs VESTED                   R3 100 203.66, based on a deemed value
                                                  of R45.89 per NCO
     NUMBER OF ORDINARY SHARES                    37 153
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)
     NATURE AND EXTENT OF INTEREST IN             Direct, beneficial
     THE DEALING

2.
     NAME OF DIRECTOR                   H Smit
     COMPANY OF WHICH A DIRECTOR        Agrimark Operations Limited
                                        (a major subsidiary of KAL Group)
     STATUS: EXECUTIVE/NON-EXECUTIVE    Executive
     TYPE AND CLASS OF SECURITIES       NCOs in relation to ordinary shares
     NATURE OF DEALING                  Vesting, automatic exercise and after-tax
                                        net-equity settlement of NCOs, resulting
                                        in the delivery of ordinary shares to a
                                        participant under the LTIP
                                        (off-market dealing)
     DEALING DATE                       24 May 2026
     (VESTING AND EXERCISE)
     SETTLEMENT DATE                    25 May 2026
     NUMBER OF NCOs VESTED              43 879
     TOTAL VALUE OF NCOs VESTED         R2 013 764.75, based on a deemed value
                                        of R45.89 per NCO
     NUMBER OF ORDINARY SHARES          24 133
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)
     NATURE AND EXTENT OF INTEREST IN   Direct, beneficial
     THE DEALING

3.
     NAME OF DIRECTOR                   T Sulaiman-Bray
     COMPANY OF WHICH A DIRECTOR        Agrimark Operations Limited
                                        (a major subsidiary of KAL Group)
     STATUS: EXECUTIVE/NON-EXECUTIVE    Executive
     TYPE AND CLASS OF SECURITIES       NCOs in relation to ordinary shares
     NATURE OF DEALING                  Vesting, automatic exercise and after-tax
                                        net-equity settlement of NCOs, resulting
                                        in the delivery of ordinary shares to a
                                        participant under the LTIP
                                        (off-market dealing)
     DEALING DATE                       24 May 2026
     (VESTING AND EXERCISE)
     SETTLEMENT DATE                    25 May 2026
     NUMBER OF NCOs VESTED              36 954
     TOTAL VALUE OF NCOs VESTED         R1 695 951.65, based on a deemed value
                                        of R45.89 per NCO
     NUMBER OF ORDINARY SHARES          20 324
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)
     NATURE AND EXTENT OF INTEREST IN   Direct, beneficial
     THE DEALING

4.
     NAME OF DIRECTOR                            AC Abeln
     COMPANY OF WHICH A DIRECTOR                 Agrimark Operations Limited
                                                 (a major subsidiary of KAL Group)
     STATUS: EXECUTIVE/NON-EXECUTIVE             Executive
     TYPE AND CLASS OF SECURITIES                NCOs in relation to ordinary shares
     NATURE OF DEALING                           Vesting, automatic exercise and after-tax
                                                 net-equity settlement of NCOs, resulting
                                                 in the delivery of ordinary shares to a
                                                 participant under the LTIP
                                                 (off-market dealing)
     DEALING DATE                                24 May 2026
     (VESTING AND EXERCISE)
     SETTLEMENT DATE                             25 May 2026
     NUMBER OF NCOs VESTED                       53 735
     TOTAL VALUE OF NCOs VESTED                  R2 466 091.95, based on a deemed value
                                                 of R45.89 per NCO
     NUMBER OF ORDINARY SHARES                   29 554
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)
     NATURE AND EXTENT OF INTEREST IN            Direct, beneficial
     THE DEALING

Clearance for the above was obtained in terms of the JSE Listings Requirements.

Paarl
25 May 2026

Sponsor
PSG Capital

Date: 25-05-2026 02:55:00
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