Kakuzi profits announcement

Camellia notes the announcement by its 50.7%-owned subsidiary, Kakuzi Plc.

The announcement states:

"Consistent with the provisions of Paragraph 14.5.7 of the Thirteenth Schedule of the Capital Markets (Public Offers, Listing and Disclosures) Regulations, 2023, Kakuzi Plc ('The Group') issues this profit warning notice and cautionary statement to our current and potential investors as well as the general public.

This profit warning notice arises from trading information, market forecasts and the unaudited results to 30th June 2026 (which have been approved, issued and published today), among other data sources currently at the Board's disposal. We, therefore, wish to report that our net earnings for the period ended 31st December 2026 may be at least 25% lower than that reported for the year ended 31st December 2025.

Exceptionally dry conditions on the farm at the end of 2025 and the Middle East conflict along with a softening of the international macadamia market are anticipated to negatively impact results.

Our strategic priorities remain unchanged in substance, even as the operating conditions in which we pursue them continue to shift: growing our production of avocado and macadamia superfoods as our existing orchards reach maturity, diversifying into new superfoods and new geographic markets.

We remain guided by the belief that a long-term view, sufficient diversification, and disciplined execution are what allow Kakuzi to withstand short-term shocks, whether from markets, weather, or geopolitics, while continuing to build sustainable shareholder and stakeholder value."

This downgrade in Kakuzi's profit forecast is coupled with the events in the Gulf, which have created headwinds in several of the operating companies' expected trading profits for the full year. However, we are also seeing improved results in other of our businesses, supported by Camellia's articulated Value Enhancement Plan. As is typical due to seasonality, crop yields and realised prices for the remainder of the year continue to remain uncertain, therefore making the full-year outcome difficult to predict at this point in time.

Camellia anticipates reporting its unaudited results for the six months ended 30 June 2026 on 3rd September 2026.