KAL GROUP LIMITED — Director's Dealing 2026

May 18, 2026

KAL GROUP LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 2011/113185/06)

Share code: KAL

ISIN: ZAE000244711

("KAL" or "the Company")

KAL

GROUP

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 LTIP to acquire ordinary shares (1) – (6) |
| NATURE OF DEALINGS | Acceptance of award of options to acquire ordinary shares in terms of the LTIP (off-market dealings) (1) – (6) |
| 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 ACCEPTED, BASED ON THE COMPANY'S CLOSING SHARE PRICE ON 14 MAY 2026, BEING R44.72.	R 21 051 492.80	(1)
	R 7 596 541.68	(2)
	R 4 028 645.92	(3)
	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 25% each on the later of: (1) – (6)
	• 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 the options to occur within 30 days of the applicable vesting date (1) – (6)
NATURE AND EXTENT OF INTEREST IN THE DEALINGS	Direct, beneficial (1) – (6)

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

Paarl

18 May 2026

Sponsor

PSG Capital

PSG CAPITAL