Trading statement ASTRAL FOODS LIMITED “Astral Foods” or “the Group” (Reg. No. 1978/003194/06) (Incorporated in the Republic of South Africa) Share Code: ARL ISIN Code: ZAE000029757 TRADING STATEMENT The general trading update published on SENS on 2 February 2022, indicated expected increases in earnings per share and headline earnings per share for the six months ended 31 March 2022 of at least 100% higher than the previous comparable six months ended 31 March 2021. Shareholders are now advised that a reasonable degree of certainty exists that for the six months ended 31 March 2022: • Earnings per share is expected to increase between 140% (829 cents per share) and 150% (888 cents per share) compared to the previous comparable period. This implies that earnings per share is expected to be between 1 421 and 1 480 cents per share (31 March 2021:592 cents per share); and • Headline earnings per share is expected to increase between 130% (776 cents per share) and 140% (836 cents per share) compared to the previous comparable period. This implies that headline earnings per share is expected to be between 1 373 cents and 1 433 cents per share (31 March 2021: 597 cents per share). The above earnings growth is measured against a low base impacted by COVID-19 related lockdowns adversely affecting the South African economy. At the time, Astral Foods’ poultry operations could not recover the then significant increases in feed costs through the selling price of poultry products. During the six months period ended 31 March 2022 the improved earnings were achieved mainly through: • increased poultry sales volumes, as a result of significant capital investments made to increase Astral Foods’ poultry production and processing capacity, resulting in improved economies of scale benefits throughout the Group’s integrated value chain; and • improved poultry margins, supported by efficiency improvements through the broiler value chain as well as the partial recoupment of higher feed raw materials and energy input costs. The financial information on which this trading statement is based has not been reviewed or reported on by Astral Foods’ auditor. It is expected that the results for the six months ended 31 March 2022 will be published on SENS on or about Monday, 16 May 2022. Pretoria 25 April 2022 Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 25-04-2022 08:00:00 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.