KAL GROUP LIMITED - Acceptance of Awards under KALs Long-Term Incentive Plan

Acceptance of Awards under KAL’s Long-Term Incentive Plan

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

ACCEPTANCE OF AWARDS UNDER KAL'S LONG-TERM INCENTIVE PLAN

In compliance with the JSE Listings Requirements, the following information regarding the
deemed acceptance of awards granted under the KAL long-term incentive plan ("LTIP") is
disclosed:

 NAMES OF DIRECTORS                              JH le Roux                      (1)
                                                 GW Sim                          (2)
                                                 HJ Smit                         (3)
                                                 T Sulaiman-Bray                 (4)
                                                 A Abeln                         (5)
                                                 X Bangazi                       (6)

 COMPANIES OF WHICH DIRECTORS                    KAL                             (1)(2)
                                                 Agrimark Operations Limited     (1) – (5)
                                                 (a major subsidiary of KAL)
                                                 ("Agrimark")
                                                 PEG Retail Operations (Pty) Ltd (1)(2)(4)(6)
                                                 (a major subsidiary of KAL)
                                                 ("PEG")

 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive directors of KAL      (1)(2)
                                                 Executive directors of Agrimark (1) – (5)
                                                 Executive director of PEG       (6)
                                                 Non-executive directors of PEG  (1)(2)(4)

 TYPE AND CLASS OF SECURITIES                    Options awarded under the       (1) – (6)
                                                 LTIP to acquire ordinary
                                                 shares

 NATURE OF DEALINGS                              Acceptance of award of          (1) – (6)
                                                 options to acquire
                                                 ordinary shares in terms
                                                 of the LTIP
                                                 (off-market dealings)

 DATE OF AWARD OF OPTIONS                        15 May 2026                     (1) – (6)

 DATE OF ACCEPTANCE OF OPTIONS                   15 May 2026                     (1) – (6)

 PRICE AT WHICH OPTIONS AWARDED                  Nil cost                        (1) – (6)

 NUMBER OF OPTIONS ACCEPTED                          470 740                     (1)
                                                     169 869                     (2)
                                                     90 086                      (3)
                                                     75 868                      (4)
                                                     135 958                     (5)
                                                     149 750                     (6)

 DEEMED TOTAL RAND VALUE OF OPTIONS                  R 21 051 492.80             (1)
 ACCEPTED, BASED ON THE COMPANY'S                    R 7 596 541.68              (2)
 CLOSING SHARE PRICE ON 14 MAY 2026,                 R 4 028 645.92              (3)
 BEING R44.72.                                       R 3 392 816.96              (4)
                                                     R 6 080 041.76              (5)
                                                     R 6 696 820.00              (6)

 VESTING DATES OF OPTIONS                        Vesting in tranches of          (1) – (6)
                                                 25% each on the later of:

                                                 •     1 February 2028, 1 February 2029,
                                                       1 February 2030 and 1 February 2031; and
                                                 •     to the extent applicable, the date on which
                                                       the remuneration committee determines
                                                       that the performance condition(s) has been
                                                       met; and
                                                 •     to the extent applicable, any other
                                                       conditions imposed have been satisfied

 SETTLEMENT PERIOD                               Settlement in respect of       (1) – (6)
                                                 the options to occur within
                                                 30 days of the applicable
                                                 vesting date

 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial             (1) – (6)
 THE DEALINGS

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

Paarl
18 May 2026

Sponsor
PSG Capital

Date: 18-05-2026 12:05:00
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