Declaration of Interim Dividend No. 141

The board has approved and declared an interim dividend of 339 cents per ordinary share (gross) in respect of the six months ended 31 March 2015.

The dividend will be subject to the Dividends Tax that was introduced with effect from 1 April 2012.

In accordance with paragraphs 11.17 (a) (i) to (x) and 11.17 (c) of the JSE Listings Requirements the following additional information is disclosed:

• The dividend has been declared out of income reserves;
• The local Dividends Tax rate is 15% (fifteen per centum);
• The gross local dividend amount is 339 cents per ordinary share for shareholders exempt from the Dividends Tax;
• The net local dividend amount is 288,15 cents per ordinary share for shareholders liable to pay the Dividends Tax;
• Tiger Brands has 192 069 868 ordinary shares in issue (which includes 10 326 758 treasury shares); and
• Tiger Brands Limited’s income tax reference number is 9325/110/71/7.

Shareholders are advised of the following dates in respect of the interim dividend:

Last day to trade cum the interim dividend Friday, 19 June 2015
Shares commence trading ex the interim dividend Monday, 22 June 2015
Record date to determine those shareholders entitled to the interim dividend Friday, 26 June 2015
Payment in respect of the interim dividend Monday, 29 June 2015

Share certificates may not be dematerialised or re-materialised between Monday, 22 June 2015 and Friday, 26 June 2015, both days inclusive.

By order of the board

T Naidoo

19 May 2015