Quantum Foods : Acceptance of allocated phantom share rights in terms of the Quantum Foods Equity Settled Phantom Share Plan

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")

ACCEPTANCE OF ALLOCATED PHANTOM SHARE RIGHTS IN TERMS OF THE QUANTUM FOODS HOLDINGS

LIMITED EQUITY SETTLED PHANTOM SHARE PLAN

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements ("JSE Listings Requirements"), shareholders of Quantum Foods are hereby advised of the following dealings in securities by executive directors of the Company:

Nature of transaction:	Acceptance of Phantom Share Rights ("PSRs") in terms
	of the Quantum Foods Holdings Limited Equity Settled
	Phantom Share Plan
Class of securities:	PSRs linked to Quantum Foods ordinary shares
	("Ordinary Shares")
Date of PSRs grant:	21 February 2022
Strike price of PSRs:	R5.390
Vesting dates of PSRs:	21 February 2025, 21 February 2026 and
	21 February 2027
Period of exercise:	Participants have until midnight on the twelfth month
	anniversary of the relevant vesting date during which to
	exercise vested PSRs
Nature and extent of interest:	Direct beneficial
On-market or off-market:	Off-market
Clearance given in terms of paragraph 3.66 of the JSE	Yes
Listings Requirements:
Transaction 1:
Name of executive director:	Hendrik Albertus Lourens
Date of acceptance of the PSRs:	1 March 2022
Number of PSRs allocated:	1 737 372
Total value of transaction:	Refer to note 3 below
Transaction 2:
Name of executive director:	Andre Hugo Muller
Date of acceptance of the PSRs:	1 March 2022
Number of PSRs allocated:	514 604
Total value of transaction:	Refer to note 3 below

Notes:

1. 50% of the granted PSRs are time-based and will vest in 3 tranches of 33.33% each on the vesting dates specified above.
2. 50% of the granted PSRs are performance-based and will vest in 3 tranches of 33.33% each on the vesting dates specified above, subject to a formula based on, inter alia, the compounded annual growth rate ("CAGR")

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of the Company's adjusted headline earnings per share ("HEPS") from baseline HEPS. The CAGR is measured from the financial year prior to the date of grant of the PSRs to the financial year prior to the date of exercise.

1. The total number of Ordinary Shares that will be issued to the executive directors pursuant to the exercise of the PSRs will be determined in accordance with, inter alia, a formula based on the growth in the Ordinary Share price from the date of grant of the PSRs to the date of exercise. Accordingly, the total number of Ordinary Shares that will be settled and total value thereof, will only be determined at a future date.
2. A further announcement will be published on SENS following the exercise of the PSRs by each executive director, disclosing the exact number of Ordinary Shares settled and the total value thereof, in accordance with the JSE Listings Requirements.

Wellington

4 March 2022

Corporate advisor and Sponsor

One Capital

Attorneys

Webber Wentzel

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