Trading Statement and Operational Update

The announcement

Trading Statement and Operational Update

ASTRAL FOODS LIMITED
(Incorporated in the Republic of South Africa)
ISIN Code: ZAE000029757
(Registration no. 1978/003194/06)
Share code: ARL
A2X code: ARL
(“Astral” or the “Group”)

TRADING STATEMENT AND OPERATIONAL UPDATE

TRADING STATEMENT

Astral shareholders are advised that the Group has a reasonable degree of certainty that, for the year
ended 30 September 2026 (“FY2026”):

 -    earnings per share (“EPS”) is expected to increase between 90% and 100% compared to the year
      ended 30 September 2025 (“FY2025” or “prior comparable year”). This will result in an EPS of
      between 4 324 cents and 4 552 cents (FY2025: 2 276 cents); and
 -    headline earnings per share (“HEPS”) is expected to increase between 95% and 105% compared
      to the prior comparable year. This will result in a HEPS of between 4 277 cents and 4 496 cents
      (FY2025: 2 193 cents).

OPERATIONAL UPDATE

The key drivers behind the improved earnings are:

 -   softer maize and soya prices on local and global soft commodity markets, resulted in lower poultry
     feed input costs;
 -   internal feed sales increased on higher broiler production volumes, together with growth in external
     feed sales volumes;
 -   poultry farming efficiencies improved, and together with lower feed costs, benefitted the broiler live
     production cost;
 -   poultry sales realisations improved, supported by volume growth in higher margin segments of the
     sales mix, and
 -   assistance from Astral’s best cost strategy.

The financial information contained in this announcement has not been reviewed and reported on by the
Group’s auditors.

It is expected that the results for the FY2026 will be published on SENS on Monday, 23 November 2026.

Lanseria
29 October 2026

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 29/10/2026 07:05:00
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.