QUANTUM FOODS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2013/208598/06)
Share code: QFH
ISIN: ZAE000193686
(“Quantum Foods” or the “Company”)


          REVISED TRADING STATEMENT AND HPAI OUTBREAK AT LEMOENKLOOF LAYER FARM


REVISED TRADING STATEMENT

In terms of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon
as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on
next will differ by at least 20% from the financial results for the previous corresponding period.

On Thursday, 23 February 2023, the Company published a trading statement and operational update on SENS
(“23 February 2023 Trading Statement”) in which it advised shareholders of Quantum Foods (“Shareholders”) that a
reasonable degree of certainty existed that headline earnings per share (“HEPS”) and earnings per share (“EPS”) for
the six months ended 31 March 2023 (“Current Reporting Period”) will be at least 100% lower than the HEPS and
EPS reported for the six months ended 31 March 2022 (“Previous Corresponding Period”).

Further to the 23 February 2023 Trading Statement, Shareholders are hereby advised that Quantum Foods now expects,
for the Current Reporting Period, that:

•   HEPS of the Company will be between 2.0 cents and 3.8 cents (a decrease of between 76% and 87%), compared
    to HEPS of 15.8 cents reported for the Previous Corresponding Period; and
•   EPS of the Company will be between 1.9 cents and 3.9 cents (a decrease of between 76% and 88%), compared to
    EPS of 16.5 cents reported for the Previous Corresponding Period.

The improved financial results expected for the Current Reporting Period, compared to the financial results previously
expected at the time of publication of the 23 February 2023 Trading Statement, are primarily as a result of:

•   an improvement in the operational efficiencies and financial performance for the layer farming business; and
•   improved trading conditions for the eggs business during February and March 2023, thus reducing the expected
    loss from this business.


OUTBREAK OF HIGHLY PATHOGENIC AVIAN INFLUENZA (“HPAI”) AT LEMOENKLOOF LAYER FARM IN THE
WESTERN CAPE

Shareholders are further advised that HPAI was detected at the Lemoenkloof layer farm in the second half of April 2023.
At the time of the HPAI outbreak, the farm housed approximately 420 000 layers, all of which had to be culled. The
estimated direct loss resulting from this HPAI outbreak is c. R34 million (including the cost of layer hens, feed and eggs
that had to be destroyed). This loss did not impact the financial results for the Current Reporting Period but will impact
the financial results for the year ending 30 September 2023 (“FY2023”).

This HPAI outbreak also impacted competitor farms in the same area and will result in a further reduction in egg
production and additional costs being incurred to supply the Western Cape market with eggs for the remainder of
FY2023.

The financial information contained in this announcement is the responsibility of the directors of Quantum Foods, and
such information has not been reviewed or reported on by the Company’s external auditors.

The financial results for the Current Reporting Period are expected to be published on SENS on or about Friday,
26 May 2023.



                                                                                                                         1
Wellington
9 May 2023

Corporate advisor and Sponsor
One Capital




Attorneys
Webber Wentzel




                                2