OPERATING ENVIRONMENT The operating environment during the third quarter of 2025 remained relatively stable, consistent with trends observed in the first half of the year. Currency stability was largely maintained through tight monetary policy measures, though overall market liquidity remained constrained. Global supply chains continued to face disruptions stemming from ongoing geopolitical tensions, affecting the

CHAIRMAN’S STATEMENT OPERATING ENVIRONMENT The operating environment during the review period was characterized by relative stability, primarily underpinned by the resilience of the Zimbabwe Gold (ZWG) against the United States Dollar (US$). This stability was further supported by improved foreign currency availability, particularly through the Reserve Bank of Zimbabwe’s Willing-Buyer-Willing-Seller market, which facilitated the importation

The Board of Directors of Dairibord Holdings Limited is pleased to advise Shareholders that the results of the Thirtieth (30th) Annual General Meeting held virtually on Tuesday, 22 July 2025 at 12:00 hours are as follows:

Notice to Shareholders: Board Changes:
1. Appointment of Mr. Nobert Hazvinei Chivimbiso Chiromo as Chairman of the Board of Directors
2. Retirement of Mr. Josphat Kevin Hatidikani Sachikonye as a Director and Chairman of the Board of Directors
3. Retirement of Mr. Cleton Mahembe as a Director of the Company

The Group achieved a consolidated volume growth of 10% driven by strong performance in the Liquid Milks and Foods categories, though moderated by a marginal 1% growth in Beverages.

Notice is hereby given that the thirtieth (30th) Annual General Meeting (AGM) of Members of Dairibord Holdings Limited will be held virtually at https://escrowagm.com/eagmZim/Login.aspx on 22 July 2025 at 12:00 hours, for the purpose of transacting the following business: Ordinary Business To note and approve the convening of the 30th Annual General Meeting through a

OPERATING ENVIRONMENT The operating environment continued to present significant challenges during the quarter under review. Principal among these were constrained liquidity and cost- push pressures. The erratic supply of utilities further compounded these challenges, requiring the use of expensive alternatives for power and water, thereby contributing to the escalation in operating costs. Additionally, sustained pricing

Shareholders are hereby advised of the appointment of Mr. Garikai Robert Bera as an Independent Non-Executive Director of the Company, with effect from 1 April 2025. Garikai holds a Bachelor of Laws (Honours) [LLB (Hons)] Degree from the University of Zimbabwe. Garikai is a seasoned corporate lawyer with extensive experience in both private practice and

CHAIRMAN’S STATEMENT OPERATING ENVIRONMENT The year under review presented significant challenges including the introduction of new tax regulations, a restrictive monetary policy framework, exchange rate volatility, inflationary pressures, liquidity constraints, utility supply inconsistencies, route to market disruptions, and aggregate demand fluctuations. The introduction of the Zimbabwe Gold (ZWG) currency in April initially stabilised both the

OPERATING ENVIRONMENT The period under review was marked by a constrained liquidity environment. Inflationary pressures were mitigated as the official exchange rate remained stable, resulting in relatively consistent consumer prices during the quarter. However, the liberalisation of the exchange rate towards the end of the quarter triggered severe disruptions in trading activities, impacting pricing models