Cautionary Announcement ZEDER INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration number: 2006/019240/06 Share code: ZED ISIN code: ZAE000088431 (“Zeder”) CAUTIONARY ANNOUNCEMENT Shareholders are hereby referred to the cautionary announcement released by Pioneer Food Group Limited (“Pioneer Foods”) on 15 July 2019. Pioneer Foods constitutes a substantial part of Zeder’s sum of the parts valuation and accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made. Stellenbosch 15 July 2019 Sponsor PSG Capital Date: 15/07/2019 08:55:00 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.
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