PPC : SIGNED MINUTES OF THE AGM OF 6 SEPTEMBER 2023

				Company		PPC Ltd. ("the Company")
				Registration Nr.		1892/000667/06
				Meeting		Annual General Meeting - PPC
					shareholders
				Meeting Date:		6 September 2023 at 12h00
						Hybrid Meeting:
				Meeting Venue:		(1) Virtual - Microsoft Teams; and
					(2) PPC Offices First Floor, 5 Parks
						Boulevard, Oxford Parks, Dunkeld
				Compiled by:		Kevin Ross
		MINUTES
	Name	Designation
	PPC directors present
	Jabu Moleketi(2)	Chairman - Non-Executive Director
	Bjarne Moltke Hansen(1)	Non-Executive Director
	Charles Naude(1)	Non-Executive Director
	Kunya Maphisa(2)	Non-Executive Director
	Mark Thompson(2)	Non-Executive Director
	Nonkululeko Gobodo(2)	Non-Executive Director
	Nono Mkhondo(2)	Non-Executive Director
	Daniel Smith(2)	Non-Executive Director
	Roland van Wijnen(2)	CEO - Executive Director
	Brenda Berlin(2)	CFO - Executive Director

Shareholders present

The total number of PPC ordinary shares ("Shares") in issue that could have voted at the AGM was 1,553,764,624 and the total number of Shares present at the AGM in person or by proxy was 1,060,292,232 representing 68,24% of the total Shares that could have voted.

Meeting scrutineers

Computershare Investor Services (Proprietary) Limited

Company Secretary

Kevin Ross(2)		Group Head Legal & Compliance and Company Secretary
	Item		Title			Actions
	1.		Welcome
1.1.		The Chairman	of the PPC Limited board of directors ("Board"), Mr Jabu Moleketi ("Chairman"),	None
			welcomed all shareholders and members of the Board to the 131st annual general meeting ("AGM") of
			the Company. The Chairman declared the meeting duly constituted.
			The Chairman introduced all directors, including the following statutory committee chairpersons present
			at the AGM:

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Item		Title	Actions
	- Mark Thompson - audit, risk and compliance committee ("ARCC").
	- Noluvuyo Mkhondo - reward and talent committee ("RTC").
	- Nonkululeko Gobodo - social, ethics and transformation committee ("SETCO").
2.		Notice of meeting
2.1.	The Chairman confirmed that the notice of the AGM was given in terms of the memorandum of	None
	incorporation ("MOI") of the Company and the Companies Act, 71 of 2008 ("the Companies Act"). The
	notice was distributed to shareholders on Friday, 28 July 2022.
3.		Minutes of the previous AGM
3.1.	The Chairman confirmed that the minutes of the previous AGM held on 9 September 2023 were verified	None
	by the Board.
4.		Proceedings - voting by way of a poll
	Pursuant to clause 21.1.2 of the MOI, the Chairman determined that the voting in respect of the AGM	None
	would proceed by way of a poll. Such poll voting would be conducted entirely electronically as
	contemplated in section 63(2) of the Companies Act and clause 19.6.1 of the MOI, through the electronic
	online facility provided by Computershare Investor Services (Proprietary) Limited, the transfer
	secretaries of the Company ("Transfer Secretaries"). For the purposes of the poll, the Transfer
	Secretaries were nominated to act as scrutineers.
	All the resolutions proposed at the AGM were seconded by Mr. R van Wijnen, the Chief Executive Officer.
	Shareholders were invited to vote on the proposed resolution at any time during the AGM until the
	Chairman closed the voting on the resolutions. Shareholders were further invited to send messages and
	view the webcast whilst the poll was open as the Chairman allowed any questions pursuant to the
	motions discussed.
5.		Presentation of the annual financial statements
	The consolidated audited annual financial statements of the Company for the year ended 31 March 2023	None
	as approved by the Board were presented to the shareholders and noted.
6.		Approval of ordinary resolutions
	The Chairman explained the ordinary resolutions (including non-binding resolutions) and special	None
	resolutions to the shareholders and the reasons thereto, and advised on the voting rights to be exercised
	at the AGM in order to pass the respective resolutions, being:
	- Ordinary resolutions- more than 50% of the voting rights exercised in favour of the resolution by
		shareholders present at the AGM or represented by proxy and entitled to exercise voting rights on
		the resolution.
	- Special resolutions- more than 75% of the voting rights exercised in favour of the resolution by
		shareholders present at the AGM or represented by proxy and entitled to exercise voting rights on
		the resolution.

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	Item		Title				Actions
	6.1.		Ordinary Resolution 1.1 - Re-election Ms N Gobodo
			It was proposed that Ms N Gobodo be re-elected a non-executive director of the company.	None
			On the motion of the Chairman, it was RESOLVED that Ms N Gobodo be re-elected a non-executive
			director of the Company. The results of the votes are set out as follows:
				Record of votes cast at the meeting
				In favour		1 059 431 365	Shares
				Against		129 050	Shares
				Abstentions		731 817	Shares
				Total votes		1 059 560 417	Shares
				Percentage in favour		99.99%
			Ordinary Resolution 1.2 - re-election of Mr C Naude
	6.2.
			It was proposed that Mr C Naude be elected a non-executive director of the company.	None
			On the motion of the Chairman, it was RESOLVED that Mr C Naude be re-elected a non-executive director
			of the Company. The results of the votes are set out as follows:
				Record of votes cast at the meeting
				In favour		947 403 986	Shares
				Against		112 108 598	Shares
				Abstentions		778 669	Shares
				Total votes		1 059 512 584	Shares
				Percentage in favour		89.42%
	6.3.		Ordinary Resolution 1.3 - Re-election of Mr M Thompson
			It was proposed that Mr M Thompson be re-elected an independent non-executive director following	None
			her retirement as director due to rotation.
			On the motion of the Chairman, it was RESOLVED that Mr M Thompson be re-elected an independent
			non-executive director of the Company. The results of the votes are set out as follows:
				Record of votes cast at the meeting
				In favour		1 059 460 709	Shares
				Against		51 875	Shares
				Abstentions		778 669	Shares
				Total votes		1 059 512 584	Shares
				Percentage in favour		100.00%
	6.4.		Ordinary Resolution 2.1 - Appointment to audit committee - N Gobodo
			It was proposed that Ms N Gobodo being an independent non-executive director of the Company be
			appointed as a member of the Company's ARCC.
			On the motion of the Chairman, it was RESOLVED that Ms N Gobodo be appointed a member of the
			Company's ARCC. The results of the votes are set out as follows:
				Record of votes cast at the meeting
				In favour		1 059 426 586	Shares
				Against		149 881	Shares
				Abstentions		714 786	Shares
				Total votes		1 059 576 467	Shares
				Percentage in favour		99.99%

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	Item		Title				Actions
	6.5.		Ordinary Resolution 2.2 - Appointment to audit committee - Ms N Mkhondo
			It was proposed that Ms N Mkhondo being an independent non-executive director of the Company be	None
			appointed as a member of the Company's ARCC.
			On the motion of the Chairman, it was RESOLVED that Ms N Mkhondo be appointed a member of the
			Company's ARCC. The results of the votes are set out as follows:
				Record of votes cast at the meeting
				In favour	1 028 787 875	Shares
				Against	30 742 667	Shares
				Abstentions	760 711	hares
				Total votes	1 059 530 542	Shares
				Percentage in favour	97.10%
	6.6.		Ordinary Resolution 2.3 - Appointment to audit committee - Mr M Thompson
			It was proposed that Mr M Thomson being an independent non-executive director of the Company be
			appointed as a member of the Company's ARCC.
			On the motion of the Chairman, it was RESOLVED that Mr M Thompson be appointed a member of the
			Company's ARCC. The results of the votes are set out as follows:
				Record of votes cast at the meeting
				In favour	1 059 461 392	Shares
				Against	71 875	Shares
				Abstentions	757 986	Shares
				Total votes	1 059 533 267	Shares
				Percentage in favour	99.99%
	6.7.		Ordinary Resolution number 3 - Appointment of external auditor
			It was proposed that PricewaterhouseCoopers (PwC) be appointed the Company's independent external	None
			auditor until the next AGM, with Mr Nqaba (Q) Ndiweni from PwC as the individual designated auditor
			to undertake the audit of the Company for the ensuing financial year.
			On the motion of the Chairman, it was RESOLVED that PwC be appointed the independent external
			auditor of the Company with Mr N Ndiweni as the individual registered auditor for the ensuing financial
			year. The results of the votes are set out below:
				Record of votes cast at the meeting
				In favour		1 044 039 940	Shares
				Against		15 497 202	Shares
				Abstentions		754 111	Shares
				Total votes		1 059 537 142	Shares
				Percentage in favour		98.54%
	6.8.		Ordinary Resolution 4.1 - Non-binding advisory vote - Remuneration Policy

Shareholders were requested to endorse the Company's Remuneration Policy by way of a non-binding vote as required by the JSE Listings Requirements.

On the motion of the Chairman, it was RESOLVED that the Company's Remuneration Policy be endorsed by way of a non-binding vote. The results of the votes are set out below:

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Item

Title

Actions

Record of votes cast at the meeting

In favour

862 421 652

Shares

Against

196 848 615

Shares

Abstentions

1 020 986

Shares

Total votes

1 059 270 267

Shares

Percentage in favour

81.42%

6.9.

Ordinary Resolution 4.2 - Non-binding advisory vote - Remuneration Implementation

Report

Shareholders were requested to endorse the Company's Remuneration Implementation Report by way

None

of a non-binding vote as required by the JSE Listings Requirements.

On the motion of the Chairman, it was RESOLVED that the Company's Remuneration Implementation

Report be endorsed by way of a non-binding vote. The results of the votes are set out below:

Record of votes cast at the meeting

In favour

1 028 156 827

shares

Against

31 113 440

shares

Abstentions

1 020 986

shares

Total votes

1 059 270 267

shares

Percentage in favour

97.06%

6.10.

Ordinary Resolution 5 - Authority to implement resolutions

Shareholders were asked to authorise and empower any director or the company secretary to do all such

things and sign all such documents and take all such actions as may be necessary to implement the

ordinary and special resolutions as set out in the Notice of the AGM.

On the motion of the Chairman, it was RESOLVED that any director, or the company secretary be

authorised to do all such things and sign all such documents and take all such actions as may be necessary

to implement the ordinary and special resolutions as set out in the Notice of the AGM.

The results of the votes are set out below:

Record of votes cast at the meeting

In favour

1 059 395 419

Shares

Against

120 817

Shares

Abstentions

775 017

Shares

Total votes at the meeting

1 059 516 236

Shares

Percentage in favour

99.99%

7.

Special resolutions

7.1.

Special Resolution 1.1 - Financial Assistance - Section 44

The Chairman stated that approval was required for the Company to provide any direct or indirect

financial assistance by way of a loan, guarantee, the provision of security or otherwise, to its subsidiaries

and inter-related companies for the purpose of the subscription of any option, or any securities, issued

or to be issued by the Company or a related or inter-related company, or for the purchase of any securities

of the Company or a related or inter-related company, subject to the terms and conditions of section 44

of the Companies Act.

On the motion of the Chairman, it was RESOLVED that the Company be authorised, to provide financial

assistance as set out in the above paragraph, and as set out in the Notice of the AGM, subject to the

terms and conditions of section 44. The results of the votes are set out below:

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