Methodology and basis of preparation

This plan was prepared from the sponsor brief with headline revenue and EBITDA preserved exactly. All statements below EBITDA were independently modelled: component depreciation and amortisation from the capex register (restaurants 10-year, central kitchen 10-year, distribution centre 12-year, offices 10-year, equipment 8-year, technology 4-year, brand 5-year); 27% South African corporate tax with assessed-loss carry-forward; and working capital at 6% of revenue. The base case is funded entirely with R220 million of equity, so there is no interest charge; capital expenditure is phased across the rollout. The income statement, balance sheet and cash flow are integrated so the balance sheet ties to zero in every year, enforced by an automated assertion (maximum difference: 0.0). Returns, scenarios, sensitivities and a debt-capacity overlay were computed independently, and the material findings, the aggressiveness of the rollout, the capital- and labour-intensity of full-service dining, premium beef input and supply risk, and the early central-infrastructure overhead, are disclosed explicitly rather than smoothed. Market statistics are directional estimates from public industry sources current to mid-2026 and should be re-verified in due diligence. This document is not an offer of securities.

South Africa Cattle Premium Company (Pty) Ltd · Business Plan & Investment Prospectus · July 2026 · Private & Confidential