PrimePork Foods – Business Plan

Investment-grade business plan for PrimePork Foods South Africa (Pty) Ltd — an R385-million raise (R240m DFI senior debt and R145m equity, R105m from a private-equity investor and R40m from the sponsor) to build an integrated pork processing, deboning and export business in Gauteng, South Africa, scaling from 3,500 to more than 11,000 pigs processed per week and R2.15 billion of Year-5 revenue at a 23.8% EBITDA margin, delivering a 40.0% ten-year project IRR and a 49.0% equity IRR at a conservative 6.5× EBITDA exit.

Confidential Information Memorandum & Funding Proposal

PrimePork Foods

An integrated pork processing, deboning and export business for South Africa — a modern abattoir, processing plant and cold-chain operation in Gauteng serving retail, food-service and export markets, scaling from 3,500 to more than 11,000 pigs processed per week — structured as an R385-million opportunity for development-finance institutions and equity investors.

Legal Entity

PrimePork Foods South Africa (Pty) Ltd

Location

Gauteng, South Africa

Total Funding Sought

R385 million

Structure

R240m DFI senior debt + R145m equity

Year-5 Revenue

R2.15 billion

Year-5 EBITDA Margin

23.8%

Project IRR / Equity IRR

40.0% / 49.0% (10-yr)

Throughput (Yr 5) · Jobs

11,000+ pigs/week · 415 at launch

Exit Multiple

6.5× EBITDA

Sector

Agri-Processing — Pork Processing & Export

The Opportunity

Pork is one of South Africa’s most affordable and fastest-growing animal proteins — fresh pork retail demand is projected to rise toward 300,000 tonnes by 2035 and prices have firmed and held steady — yet the market is short of modern, vertically integrated processing and cold-chain capacity able to serve retail, food-service and export channels to standard. PrimePork Foods captures this with an integrated pork processing, deboning and export business in Gauteng: a modern abattoir, processing plant and cold store scaling from 3,500 to more than 11,000 pigs processed per week, with exports launching alongside a defensible domestic affordability position. An R385-million raise (R240 million of DFI senior debt and R145 million of equity — R105 million from a private-equity investor and R40 million from the sponsor, with additional facilities alongside) funds the processing plant, cold store and ramp — scaling to R2.15 billion of Year-5 revenue at a 23.8% EBITDA margin and supporting 415 direct jobs at launch — delivering a 40.0% ten-year project IRR and a 49.0% equity IRR at a conservative 6.5× EBITDA exit.

Plan Contents

This investor-grade business plan is organised into the sections below. Each section is a dedicated page — select any to explore the full detail.

Important Notice & Disclaimer

This confidential information memorandum (the “Memorandum”) has been
prepared by PrimePork Foods South Africa (Pty) Ltd (“PrimePork” or the
“Company”) to provide prospective funders and investors with information
regarding its proposed vertically integrated pork processing, deboning
and export business in Gauteng, South Africa. It is furnished on a
strictly confidential basis to a limited number of sophisticated
institutional recipients and may not be reproduced or distributed, in
whole or in part, without the Company’s prior written consent.

This Memorandum does not constitute an offer to sell or a
solicitation of an offer to purchase securities in any jurisdiction, nor
financial advice as contemplated in the Financial Advisory and
Intermediary Services Act, 37 of 2002. Prospective investors should
conduct their own independent due diligence and obtain independent
legal, tax, technical, veterinary and financial advice. The Company is a
newly conceived enterprise; while its operating architecture is informed
by the established integrated pork-processing model demonstrated by
leading South African operators, PrimePork is an independent venture and
no representation is made that it is affiliated with, endorsed by, or
will replicate the results of any existing operator.

The projections herein are forward-looking statements resting on
assumptions about pork demand, carcass and feed prices, processing
yields, throughput ramp-up, export market access and interest rates —
all inherently uncertain. Pork processing is exposed to acute,
well-documented sector risks: African Swine Fever (five commercial
outbreaks recorded through early 2026) and foot-and-mouth disease
(seventeen commercial outbreaks), which trigger slaughter backlogs —
SAPPO has quantified cumulative losses of roughly R9,500 per sow for a
1,000-sow unit during a single FMD event — as well as feed-cost
volatility, cold-chain and load-shedding disruption, and the phased ban
on sow gestation crates by 2032. Where this Memorandum identifies
weaknesses in the sponsor case — including a Year 1 loss larger than the
sponsor’s once full depreciation and interest are charged, sub-1.0x debt
service cover during ramp-up, a working-capital revolver requirement
over and above the R385 million headline raise, and an exceptionally
aggressive revenue ramp — these disclosures are made deliberately.

Figures are in South African Rand (ZAR) unless stated; “m” and “bn”
denote millions and billions. Certain totals may not cast exactly due to
rounding. Industry statistics are drawn from public sources including
SAPPO, the Bureau for Food and Agricultural Policy (BFAP), the Red Meat
Abattoir Association (RMAA), the National Agricultural Marketing Council
(NAMC), Stats SA and DALRRD, and are believed reliable but not
independently verified.

Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of PrimePork Foods South Africa (Pty) Ltd.