INTEGRATED ANNUAL REPORT 2024

for the year ended 30 September 2024

Provide the capability, experience and innovation required to deliver on our business strategy

How we engage employees
  • CEO engagements
  • Virtual and in-person townhall meetings with employees
  • Internal company website
  • ROAR app designed for employee engagement
  • Employee hotline
  • Site engagements
  • Focus groups
  • Notice boards and digital signage
  • Employee resource groups and communities
What is important to employees
  • Talent and career development
  • Remuneration and rewards
  • Work-life balance
  • Safety, security and wellbeing
  • Strong internal engagement processes
  • Cross-functional teamwork and collaboration
  • Recognition and feedback
  • Opportunities to innovate and challenge the status quo
  • Speed and visibility of decisions
Responding to employee interests
  • Our people strategy and operating model seeks to address each one of our employee issues directly
  • Employee feedback is solicited through our Voice of Tiger engagement and employee experience survey and pulse, which is conducted across all our sites in six languages
  • Specific actions to address key feedback areas
  • Fit-for-purpose people processes focusing on talent, capability development, leadership, rewards, wellbeing, engagement and culture
  • Our THRIVE employee wellbeing programme directly supports employees and their families by proactively managing their physical, emotional and mental wellbeing
  • Tiger Trolley, a digital staff shop, is a direct response to employee needs in a socio-economically challenged environment

Our retail and wholesale customers provide consumers with ready access to our products

How we engage customers
  • Senior leadership engagement (top-to-top) to align on business priorities,
    joint corporate initiatives and optimised trading practices
  • Annual trading term negotiations to agree on shared growth ambitions and
    associated strategic business levers and investments to achieve set performance objectives
  • Joint category development planning to identify shared growth opportunities and
    agree joint action plans and investments
  • Regular action planning meetings to execute business plans, respond to tactical dynamics
    and resolve operational issues to achieve our joint performance targets
  • Routine business review sessions to identify and address performance shortfalls
    as well as take advantage of new opportunities
What is important to customers
  • Trading terms and promotional pricing that are fair and equal, and that promote mutual profitable growth
  • Innovation, commercially attractive brand propositions, and marketing campaigns that appeal to their shoppers and drive profitable basket conversion
  • Operational systems and ways of working that enhance logistics and administrative efficiencies facilitating cost-effective speed to market and continuous supply
  • Stock availability and service levels
  • Competitive pricing
  • Promotional support
Responding to customer interests
  • Alignment of business priorities and commitment to shared growth ambitions and action plans
  • Collaborative cross-functional projects/initiatives to address prioritised business imperatives
  • Tailored solutions and campaigns in support of customer-specific growth opportunities and initiatives
  • Sharing of market/shopper research and knowledge to better inform business and category growth strategies
  • Proactive performance reviews that identify competitive growth opportunities and risks coupled with ideas and proposals
  • Utilising the Tiger Basket to drive value-adding promotions through combos

By purchasing our products and believing in our brand, they provide the basis for revenue growth

How we engage consumers
  • Tiger Brands website
  • Promotional activities and competitions
  • Information on our packaging
  • Research, including continuous engagement via consumer communities, online and
    offline qualitative studies, immersions, visual diaries and preparation
  • Neuroscience to identify implicit behaviour in-store and
    communication engagement
  • Consumer care line
  • Multi-channel approach as well as integration of online and offline channels
    to provide a seamless user engagement experience
  • Cooking shows and blogs
  • CSI activities, community programmes and feeding schemes
What is important to consumers
  • Affordable value-for-money tasty nutrition
  • Innovative products not reliant on energy supply
  • Healthier choices
  • Food safety and product quality
  • Convenience
  • Business leadership on social, economic and environmental issues
Responding to consumer interests
  • Tiger Brands' portfolio aimed at democratising nutrition and driving affordable solutions through our iconic brands
  • Democratising health and nutrition through education of current offerings, tiering of relevant consumer benefits and innovation
  • Leveraging price pack architecture to provide consumers "more for less" and more affordable packaging formats
  • Through inter-department collaboration between the Consumer Contact Centre and Tiger Brands Quality Teams, product complaints have decreased by 7% year-on-year
  • Unconstrained localisation and sensory platforms to enable agility and innovation speed-to-market
  • Publish the Eat Well Live Well nutritional programme's Family Food Matters behavioural science study report
  • In-house sensory testing capability

Provide the regulatory framework and informs the socio-economic context essential for our activities

How we engage government
  • One-on-one engagements
  • Engagements on draft regulations
  • Public forums
  • Industry consultative bodies
  • Parliamentary processes
  • Bilateral business forums
  • Site visits
What is important to government
  • Job creation and preservation
  • Economic development and growth of the township economy
  • Food safety and quality
  • Consumer nutrition and health
  • Delivering on broad-based black economic empowerment (B-BBEE)
  • Fostering growth and development of local agricultural sector
  • Contributing to relevant UN Sustainable Development Goals
Responding to government interests
  • Robust safety systems in place supported by academic partnerships and consumer campaigns
  • Public private partnerships to revitalise the economy (such as the Agri Processing Master Plan)
  • In-school breakfast programme in partnership with The Tiger Brands Foundation and the Department of Basic Education
  • Investment in B-BBEE-verified suppliers and promotion of socio-economic development
  • Internal drive to ensure representation at executive and management level
  • Investment in skills development
  • Active partnerships to promote agri-sector development and smallholder farmers
  • Engage on draft policy and legislation

Provide the financial capital needed for long-term growth

How we engage investors
  • Annual and interim reports
  • Presentations
  • One-on-one meetings, non-deal roadshows, investor conferences
  • Site visits and themed investor days
  • SENS announcements
  • Dedicated investor relations function and mailbox
  • Website
What is important to employees
  • Evidence of an effective turnaround
  • Performance of key segments
  • Visible execution of strategies in an increasingly constrained consumer environment and growing retail concentration
  • Cost of one-off items and resultant value destruction
  • Enhanced returns and cash flows
  • Impact of skills shortages on ability to attract and retain talent
  • ESG performance
Responding to investor interests
  • Clearly articulate turnaround strategies to rectify the performance of Milling and Baking, Grains and Culinary
  • Supplemented investor engagements and increased contact with divisional leadership
  • Evidence of dedicated resources to accelerate execution of value engineering initiatives and value propositions
  • Provide bi-annual updates on underlying progress that will enable turnaround and consequential talent acquisition and retention
  • Introduction of governance and remuneration roadshows to create a dialogue, giving confidence to our shareholders while contributing to better informed board deliberations
  • Comprehensive disclosure and updates on ESG including mitigating strategies

Provide the services and raw materials that form the basis of our products and activities

How we engage suppliers
  • Supplier forums
  • Site visits
  • Supplier assessments
  • Supplier relationship management via digital platforms
  • Supplier satisfaction surveys
What is important to suppliers
  • Timely payment and fair terms
  • Collaboration and partnering
  • B-BBEE commitments
  • Enterprise and supplier development
  • Health and safety standards
  • Ease of doing business through self-service portals
Responding to supplier interests
  • Negotiate with strategic suppliers to secure requirements
  • Collaborating with Tiger Brands' Enterprise and Supplier Development programme to diversify the supply base with a focus on black-owned and black women-owned suppliers
  • Engage key suppliers to drive procurement efficiencies and improve B-BBEE commitments
  • Reviewed supplier quality programme being rolled out in line with enhanced internal quality protocols
  • Utilise technology to enhance communication and administrative channels
  • Develop category strategies to work with suppliers beyond a price focus

Provide the social capital and licence to operate for the business to succeed

How we engage communities
  • Community NGO implementation partners
  • Community social mapping to identify opportunities to share value
  • Community mobilisation and interaction on SED and ESD projects
  • Collaborative partnerships with industry peers
  • Site level steering committee made up of representatives from the municipalities, community representatives and representatives from the Tiger Brands site
What is important to communities
  • Food security and related nutrition issues
  • Stimulate economic activity to support and sustain community enterprise development and job creation
  • Impact of our operations on host communities
  • Employment and business opportunities
Responding to community interests
  • Partner with government, industry peers and developmental agencies to promote nutrition, health, education and contribute to community development and poverty alleviation
  • Initiatives in place on enterprise and supplier development and community investment
  • Addressing environmental impacts of our operations on our host communities