8 December 2021

Roebuck Food Group plc ("the Company")

(formerly Norish plc)

Executive Director Bonuses

In light of the disposal of the Company's cold store division for a gross consideration of £65.706 million announced on 30 September 2021 and completed on 29 October 2021 and capital return of £49.916 million approved on 22 November 2021 and completed on 29 November 2021, the Board has agreed to pay once-off non-pensionable cash bonuses of €170,000 to Executive Chairman Ted O'Neill and £215,000 to Group Finance Director Aidan Hughes. In each case the bonus is separate and distinct from Mr O'Neill's and Mr Hughes' respective contractual entitlements as executive directors of the Company and is in recognition of their work in connection with the disposal and return of capital and, in the case of Mr Hughes, his ongoing post-disposal assistance to the purchaser of the cold store division. In addition, with effect from 1 January 2022, Mr O'Neill's salary of €170,000 per annum will reduce to €84,000 per annum.

It has been previously announced that Mr Hughes will step down from his executive role on 31 December 2021 along with Group Managing Director Kieran Mahon, who will resign as a director on that date.  Both Mr Hughes and Mr Mahon have service agreements with the Company providing for a 12 month notice period, in respect of which the Company anticipates making payments in lieu of that notice by reference to their salaries of €170,000 and £115,000 per annum respectively.

The directors of the Company (Mr O'Neill and Mr Hughes excepted) consider, having consulted with the Company's nominated adviser Davy, that the terms of these bonuses are fair and reasonable insofar as its shareholders are concerned.

The directors of the Company accept responsibility for this announcement.

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