RAINBOW CHICKEN LIMITED - Results announcement for the year ended 30 June 2024

Results announcement for the year ended 30 June 2024

Rainbow Chicken Limited
(Formerly Rainbow Chicken Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2024/200346/06)
ISIN: ZAE000334850
Share code: RBO
("Rainbow" or "the Company")

RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE 2024

Ongoing execution of turnaround plan drives improved result.

FINANCIAL SUMMARY

   -   Revenue R14,5 billion, up 7.9%
   -   Earnings before interest, taxes, depreciation, amortisation and impairments ("EBITDA") R629,7
       million, up R599,9 million
   -   Earnings R185,4 million, up R458,8 million
   -   Headline earnings R185,5 million, up R472,0 million

INTRODUCTION

As a consequence of Rainbow being unbundled on 1 July 2024, being post its year end of 30 June 2024,
Rainbow formed part of the RCL FOODS Limited ("RCL FOODS") Group Financial Results for the year ended
30 June 2024 ("RCL FOODS Group Financial Results") that was released on the Stock Exchange News
Service of the JSE ("SENS") on 2 September 2024. In order to provide Rainbow shareholders direct access
to the results of Rainbow, the financial information and results commentary presented has been extracted
from the RCL FOODS Summary Consolidated Financial Statements and agrees in all material respects to
that published by RCL FOODS.

RAINBOW PROSPECTS

Despite the consumer being severely under pressure and commodity prices remaining elevated,
Rainbow's performance in the coming year will benefit from its improved agricultural performance and
higher volumes. Its focus now will be on bedding down the separation from RCL FOODS, demonstrating
ongoing profitability through the commodity cycles, remaining vigilant in terms of risks, protecting
agricultural performance and continuing to innovate.

BOARD RESPONSIBILITY

The Rainbow Board accepts full responsibility for the information contained in this announcement and
confirms that the financial information, where applicable, has been correctly extracted from the RCL
FOODS Summary Consolidated Financial Statements.

BASIS OF PREPARATION

This Rainbow Group Financial Results announcement in itself is unaudited. The financial information in
this announcement has been extracted from the RCL FOODS Summary Consolidated Financial Statements
for the year ended 30 June 2024, published on 2 September 2024. The RCL FOODS Summary Consolidated
Financial Statements are extracted from audited information but are not themselves audited. The
consolidated financial statements for RCL FOODS Limited (which included Rainbow) were audited by Ernst
& Young Inc., who expressed an unqualified opinion thereon.

As stated in the RCL FOODS Summary Consolidated Financial Statements (which included the Rainbow
Group Financial Results):

    -    The RCL FOODS Summary Consolidated Financial Statements have been prepared in accordance
         with IFRS, the information required by IAS 34 Interim Financial Reporting, IFRIC interpretations,
         SAICA financial reporting guides and circulars, Financial Pronouncements as issued by the
         Financial Reporting Standards Council and in compliance with the Companies Act of South Africa
         and the Listings Requirements of the JSE.
    -    The accounting policies of the RCL FOODS Limited Group (which included Rainbow) complied with
         International Financial Reporting Standards and were consistent with those applied in the
         previous period.

The Rainbow Group Financial Results reported within the RCL FOODS Summary Consolidated Financial
Statements and the extraction of such information from the RCL FOODS Summary Consolidated Financial
Statements for inclusion within this results announcement were both prepared under the supervision of
the Rainbow Chief Financial Officer, Kerry van der Merwe CA(SA).

AVAILABILITY OF THE RAINBOW GROUP FINANCIAL RESULTS STATEMENTS

Shareholders are advised that this results announcement contains a summary of Rainbow's financial
information as reported in the RCL FOODS Summary Consolidated Financial Statements and does
not represent full or complete information.

The Rainbow Group Financial Results are available for viewing on the JSE link at

https://senspdf.jse.co.za/documents/2024/jse/isse/rboe/RBOFY2024.pdf

or on the Rainbow website on www.rainbowchickens.co.za

Any investment decisions by investors and/or shareholders should be based on a consideration of the
Rainbow Group Financial Results as this results announcement does not provide all the details.


The audited Rainbow Group Financial Results are expected to be published on or about 31 October 2024.

For and on behalf of the Board of Directors of Rainbow

PR LOUW                                                        MP STANDER
Non-executive Chairman                                         Chief Executive Officer

CENTURION
30 September 2024

Company Secretary
FluidRock Co Sec (Pty) Ltd

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 30-09-2024 05:40:00
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