Trading Statement

RNS Number : 1896I

Zambeef Products PLC

15 June 2026

ZAMBEEF PRODUCTS PLC

Incorporated in the Republic of Zambia Company registration number: 31824 Share Code: ZAMBEEF

ISIN: ZM0000000201

In accordance with the Lusaka Securities Exchange ("LuSE") Listings Requirements, the Board of Directors of Zambeef Products Plc (the "Company" or the "Group") hereby advises the shareholders of the Company that the Zambian Kwacha Total Basic Earnings per Share* for the period ending 31 March 2026 is expected to be approximately 112% higher than that of the corresponding period ending 31 March 2025.

The Company reiterates the guidance provided in the Company's previous Trading Update of 14 May 2026, and therefore there is no change to the most recent market expectations as updated on 14 May 2026.

Despite pressure on revenues (in Kwacha), this improvement in financial performance is being underpinned by robust underlying operations and disciplined overhead management. Additionally, the Kwacha's appreciation at the turn of the calendar year has driven meaningful transactional cost savings on imported inputs. Consequently, the Group has achieved sustained growth in Operating Profit compared to the prior year-a trajectory that is expected to continue throughout the remainder of the financial year.

These results are further assisted by a reduction of Zambia's Monetary Policy Rate (MPR) from 14.5% earlier in the year, now down to 13.25%.

Having navigated the energy crisis in the early part of the financial year, the Group has benefited from a stabilisation in electricity supply, significantly reducing reliance on costly backup power. Despite a tough trading environment and weak consumer demand, macroeconomic improvements driven by Government policy measures support a positive outlook.

The Group continues to operate in a highly price-sensitive environment shaped by constrained consumer spending. While recent stability in inflation, GDP growth, and exchange rates has reinforced our ability to maintain competitive pricing profitably, we remain cautious regarding the latter half of the year. Beyond the impact of geopolitical tensions in the Middle East on fuel and fertilizer costs, the upcoming elections in August may introduce localized operational disruptions. Zambeef is proactively repositioning its logistics and procurement frameworks to mitigate these external pressures and safeguard profitability throughout the remainder of the financial year.

The Group expects its results for the period ending 31 March 2026 to be released by the end of June 2026. Shareholders are advised that the information contained in this Trading Statement has not been reviewed nor reported on by the Company's external auditors.

Note

Total Basic Earnings per Share calculation excludes the issue of new ordinary shares to British International Investment plc in April 2026, which occurred following the Interim Results balance sheet date of 31 March 2026. Earnings per Share on a fully diluted and adjusted basis for the year ending 30 September 2026 is expected to be ahead of the prior year (no change to guidance).

For further information, please visit www.zambeefplc.com or contact:

Zambeef Products plc	Tel: +260 (0) 211 369003
Faith Mukutu, Chief Executive Officer
Patrick Kalifungwa, Chief Financial Officer
Cavendish Capital Markets Limited (Nominated Adviser and Broker)	Tel: +44 (0) 20 7220 0500
Ed Frisby/Isaac Hooper

Autus Securities Limited (Sponsoring Broker)	Tel: +260 (0) 211 840 513
Mataka Nkhoma
By order of the Board Mwansa Mutimushi Company Secretary Issued in Lusaka, Zambia on 12^th June 2026

Notes to Editors

Zambeef Products plc is the largest integrated cold chain food products and agribusiness company in Zambia and one of the largest in the region, involved in the primary production, processing, distribution and retailing of beef, chicken, pork, milk, dairy products, fish, flour and stockfeed, throughout Zambia and the surrounding region, as well as Nigeria and Ghana.

It has 241 retail outlets throughout Zambia and West Africa.

The Company is one of the largest suppliers of beef in Zambia. Five beef abattoirs and three feedlots are located throughout Zambia, with a capacity to slaughter 234,000 cattle a year. It is also one of the largest chicken producers in Zambia, with a capacity of 12.5m broilers and 31 million-day-old chicks a year. It has one of the pig abattoirs and pork processing plants in Zambia, with a capacity to slaughter 102,000 pigs a year, while it's dairy processing has a capacity of 140,000 litres per day.

The Group is also one of the largest cereal row cropping operations in Zambia, with approximately 7,256 hectares of row crops under irrigation, which are planted twice a year, and a further 7,941 hectares of rainfed/dry-land crops available for planting each year.

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