Tiger Brands' integrated annual report (IAR) is our primary annual report in our annual reporting suite. The IAR is written mainly for existing and potential investors, lenders and other creditors who have an interest in Tiger Brands' capacity to create value over the short, medium and long term, and who are assessing whether to provide resources to the company. Although this report will be of interest to a broad range of interested parties – including customers, government and regulators, current and prospective employees, civil society organisations and the media – the primary purpose of this report is to inform the decisions of report-users relating to the provision of resources to the company.
By providing a frank review of our business model and strategy, the risks and opportunities in our operating environment, our approach to responding to material sustainability-related impacts, risks and opportunities, and our governance activities for the financial year ended 30 September 2025, the report is intended to help users to assess whether Tiger Brands is a good long-term investment. The IAR should be read in conjunction with our annual financial statements (AFS) and our sustainability databook available on our website: www.tigerbrands.co.za.
The reporting process across our reporting suite complies with the following regulatory requirements:
Our reporting has also been informed by the following disclosure standards and frameworks:
Note: IFRS S1 and IFRS S2 not in effect or applied to our reporting.
Our approach to materiality is informed by the objective of ensuring that all the information in the IAR is material, in that it should be reasonably capable of influencing the decision of any report-user wishing to make an informed assessment relating to the provision of resources to the company. This includes providing material information on the sustainability-related risks and opportunities that could reasonably be expected to affect Tiger Brands' cash flows, access to finance or cost of capital over the short term (less than 12 months), medium term (one to three years) and long term (beyond three years).
Adopting a "double materiality" approach, we also include disclosure on the most significant actual or potential impacts of the company's activities on people or the environment over the short, medium and long term.
Our materiality process
To identify the issues for inclusion in our IAR we ran an independently facilitated materiality workshop in which management representatives from across the company considered the following issues:
We prioritised the matters for inclusion in this report based on our judgement of the information needed by a report-user seeking to make an informed assessment relating to the provision of resources to the company. Our IAR is structured in a manner to enable such an assessment by providing information on our business, key trends in our operating context, the most significant risks and opportunities affecting value creation, our material sustainability-related impacts, and our strategy, performance and governance activities for the 2025 reporting period.
In assessing those issues that materially impact value creation we have looked beyond the conventional financial reporting boundary to provide for the relevant interests of key stakeholders. We have considered the most significant risks, opportunities and impacts associated with our own operations, as well as with the activities directly linked to Tiger Brands' upstream and downstream value chain.
Combined assurance refers to the incorporation of all assurance services and activities to optimise our risk and governance oversight function within our risk appetite. All assurance providers co-ordinate efforts and reporting, ensuring alignment of governance and risk activities with the company strategy and improved business performance. The board audit and risk committee and the social, ethics and sustainability committee are responsible for overseeing the effectiveness of combined assurance arrangements within the organisation, directing the effort of the three lines of assurance:
As members of the Tiger Brands' board, we acknowledge our collective responsibility for ensuring the integrity of this report, which was drafted with input from all members of the executive team. The board has applied its collective mind to the preparation and presentation of the information in this report. We believe that the report presents a balanced and fair account of Tiger Brands' performance, governance practices and operating context for the financial year ended 30 September 2025, as well as an accurate refl ection of our strategic commitments, including sustainability. On the advice of the audit and risk committee, the board approved the integrated report and the consolidated annual financial statements on 25 November 2025.
We invite our stakeholders to review this report and to provide feedback on the company's performance, strategy and disclosure.
Geraldine Fraser-Moleketi
Chairman
Tjaart Kruger
Chief executive officer
Donald Wilson
Chairman of audit and risk committee
Integrated annual report 2025
Provides a succinct review of our strategy and business model, operating context, operational performance and governance. For the first time this year, our integrated report also incorporates our sustainability strategy, and our performance in managing our most significant sustainability-related impacts, risks and opportunities (adopting "double materiality"). Aimed primarily at existing and potential investors, lenders and other creditors, it is written for use by all parties who have an interest in Tiger Brands' long-term performance. In addition, we have also included the AGM notice and form of proxy in the integrated report, in the shareholder information section. Our integrated report also includes our sustainability databook, and reviews of our performance.
Sustainability databook
Provides a concise consolidated set of data tables reviewing our performance on our material sustainability-related impacts, risks and opportunities. These data tables are also included here, and in an Excel downloadable format.
Group annual financial statements 2025
Comprehensive review of our financial performance and results for the Tiger Brands group, with audited financial statements, prepared in accordance with IFRS accounting standards.
Company annual financial statements 2025
Comprehensive review of our financial performance and results for the company, with audited financial statements, prepared in accordance with IFRS accounting standards.
