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South African farmers have become remarkably good at solving problems they should not have to solve. They navigate water constraints, unreliable infrastructure, logistics bottlenecks, red tape and intense international competition. Then they still find a way to get their produce to market. If we look beyond those constraints, a different story starts to emerge. One where we have agricultural industries competing with some of the best in the world. We have farmers building businesses and creating jobs in communities where they matter enormously. We have considerable productive capacity that can still be unlocked. Imagine what becomes possible when we make it easier for our farmers to do what they already do exceptionally well. Some thoughts in my latest LinkedIn article.

Carel Vosloo, Remgro CIO, reflects on the delivery across our portfolio, the stronger execution driving performance across key businesses and where further improvement remains a focus. Click here for more information on our full FY26 financial results: https://lnkd.in/epbu2U99

We released our full-year results earlier this week, and I had the pleasure of joining Jannie Durand and Carel Vosloo to unpack the performance. Headline earnings naturally attracts attention when results are announced. One of the questions I also ask is how that performance translates into cash. For FY26, adjusted free cash flow at the centre increased by 28.6% to R4.95 billion, supported by a 23.8% increase in ordinary dividends received of R4.56 billion. Both provide a useful view of the underlying cash generation from our portfolio. Importantly, that sustained cash generation is supporting increased returns to shareholders. At the same time, cash at the centre ended the year at R20.37 billion, giving Remgro Limited significant financial flexibility. A strong balance sheet is important, but it is not an end in itself. Its value lies in what it enables us to do: support our businesses, respond selectively to opportunities and return capital to shareholders where appropriate. For me, that is the important connection in FY26. Performance is translating into cash, which in turn is supporting shareholder returns, and financial strength that gives us the flexibility to keep creating value over time. Read more: https://lnkd.in/drJEMgze

Remgro Limited’s headline earnings increased by 42.3% to R11.14 billion in FY26. Even after excluding R1.02 billion of material once-off items, growth was approximately 29%, supported by improved operational performance across several key businesses. Cash provides another important signal. Ordinary dividends received increased by 23.8% to R4.56 billion, while adjusted free cash flow at the centre increased by 28.6% to R4.95 billion. That sustained cash generation is also supporting increased returns to shareholders, while preserving significant financial flexibility at the centre. Then there is underlying value. INAV per share increased by 4.6% to R305.80, or 8.9% when adjusted for distributions made during the year. None of these measures tells the full story in isolation. For me, the useful investor picture emerges when we consider them together: Are earnings supported by underlying performance? Are they converting into cash and shareholder returns? Finally, is the underlying portfolio value growing? FY26 provides encouraging evidence across each of those measures. Read more: https://lnkd.in/dbRY63tH

CEO Jannie Durand reflects on Remgro’s FY26 performance, the progress across our portfolio and why long-term discipline remains central. For our full FY26 results click here: https://lnkd.in/epbu2U99

CFO Neville Williams looks beyond the headline numbers to the cash generation and financial flexibility underpinning Remgro’s FY26 results. Click here for more information on our full FY26 financial results: https://lnkd.in/epbu2U99