About this report

TIGER BRANDS’ 2023 INTEGRATED REPORTING SUITE

Our 2023 integrated reporting process comprises the following reports:

SUSTAINABILITY REPORT 2023

Reviews our performance in managing our most significant impacts on people, society and the environment (impact materiality), and in addressing the signifi cant sustainability-related risks and opportunities that could reasonably be expected to affect cash flows, access to finance, or cost of capital over the short, medium or long term (financial materiality).

INTEGRATED ANNUAL REPORT 2023

Provides a succinct review of our strategy and business model, operating context, operational performance, and governance. Aimed primarily at existing and potential investors and providers of capital, it is written for use by all parties who have an interest in Tiger Brand’s long-term performance.

ANNUAL FINANCIAL STATEMENTS 2023

Comprehensive review of our financial results, with audited financial statements, prepared in accordance with IFRS accounting standards.

These reports are all available at www.tigerbrands.com.

Report audience, purpose and boundary

Our sustainability report (SR) reviews Tiger Brands’ performance in managing our most significant impacts on people, society and the environment, and in addressing the most significant environmental, social and governance (ESG) risks and opportunities that could reasonably be expected to impact our business over the short, medium or long term. The SR is written as a supplement to the integrated annual report (IR), and targets a broad range of stakeholders, including shareholders, investors, ESG rating agencies, regulatory agencies, employees, non-governmental organisations (NGOs), customers, partners, suppliers and local communities. The report covers the activities of all our operations in South Africa and includes a report on our operations in Cameroon.

Reporting frameworks

The reporting process across our reporting suite complies with the following regulatory requirements:

South African Companies Act, 71 of 2008 (as amended)
King IV Code on Corporate Governance™ for South Africa, 2016 (King IV)
The International Financial Reporting Standards (IFRS) accounting standards, developed and maintained by the International Accounting Standards Board (IASB)

Our reporting has also been informed by the following disclosure standards and frameworks:

The GRI Sustainability Reporting Standards
The IFRS sustainability standards recently released by the International Sustainability Standards Board (ISSB): IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures
The Processed Foods Sustainability Accounting Standard issued by the Sustainability Accounting Standards Board (SASB)
The JSE Sustainability Disclosure Guidance and JSE Climate Disclosure Guidance

Noting the growing call from investors and analysts for transparent, reliable and comparable ESG data, we have also made provision for the disclosure expectations of relevant ESG rating agencies. We are committed to further improving our data collection and disclosure systems to ensure stronger alignment with the above sustainability-related disclosure standards and frameworks from 2024.

Our approach to materiality

In response to recent developments in global disclosure standards and frameworks, we have adopted “double materiality” across our reporting suite:

Financial materiality: Our IR provides information on those matters that are likely to influence report users’ assessment of Tiger Brands’ future cash flows over the short term (less than 12 months), medium term (one to three years) and long term (beyond three years). Our AFS reflect the effects on company value and cash flow that have already taken place at the time of the financial year end.
Impact materiality: Our SR provides disclosure on the most significant impacts of our operations and activities on people, society and the environment over the short, medium or long term; this includes impacts caused by the company in its own operations, products or services, as well as the impacts directly linked to Tiger Brands’ upstream and downstream value chain. We have also made provision in the SR for financially-material ESG risks and opportunities impacting the business, thus adopting a “double materiality” perspective for our sustainability report

Assurance

We use a combined assurance model comprising assurance obtained from management and from internal and external assurance providers. More details on our combined assurance model are provided in our IR (About this report). Aside from our broad-based black economic empowerment (B-BBEE) performance, which has been externally verified by EmpowerLogic (Proprietary) Limited, the non-financial data in this report has not been independently assured. Marsh South Africa conducted risk control audits at our manufacturing sites and warehouses covering health, safety, security, fire protection and readiness.

The social, ethics and transformation committee (SETCO) and the risk and sustainability committee (RSC) review the draft sustainability report and make edits where necessary, prior to sending the draft to the audit committee (AC) for review. The AC oversees external assurance of select performance data and reviews the completeness of disclosures in the report before recommending it for board approval. Each of the chief officers has signed off relevant sections of this report that relate to issues under their control.

Board approval

The Tiger Brands board, supported by the social, ethics and transformation committee, has overall accountability for this report. The audit committee reviewed the completeness of the disclosures and recommended it to the board for approval. The board is satisfied that the report addresses the most material sustainability concerns for the business, provides an accurate reflection of the group’s strategic commitments, and a fair account of our performance for the financial year ended 30 September 2023.The board approved and signed off the sustainability report on 30 November 2023.

Geraldine Fraser-Moleketi
Chairman

Tjaart Kruger
Chief executive officer

Donald Wilson
Chairman of audit committee