PICK N PAY STORES LIMITED - Dealing in securities

Dealing in securities

Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK
ISIN code: ZAE000005443

PICK N PAY STORES LIMITED – DEALING IN SECURITIES

Dealing in securities by executive directors and company secretary: vesting of the 2018
forfeitable share plan (FSP) award and allocation of the 2021 restricted forfeitable share
plan (RSP) in terms of the Pick n Pay Stores Limited Forfeitable Share Plan, which was
approved by shareholders at the General Meeting held on 12 February 2014 and amended
at the General Meeting held on 4 August 2020.

Vesting of the 2018 FSP long-term incentive scheme

The following participant elected to retain all shares:

 Executive Director:                          JG Ackerman
 Nature of transaction:                       Nil cost of vesting of Forfeitable Share Awards
 Number of forfeitable shares delivered:      8 000
 Date of vesting:                             25 June 2021
 Class of shares:                             Ordinary shares
 Price per share:                             R51.71
 Market value of shares:                      R413 680
 Date of transaction:                         25 June 2021
 Nature of interest:                          Direct beneficial
 Clearance obtained:                          Yes


The following participants elected to sell, on-market, sufficient shares to pay tax and
related costs, with the balance of the shares being retained:

 Executive Director:                         SD Ackerman-Berman
 Nature of transaction:                      Nil cost vesting of Forfeitable Share Awards
 Number of forfeitable shares delivered:     15 000
 Date of vesting:                            25 June 2021
 Class of shares:                            Ordinary shares
 Price per share:                            R51.71
 Market value of shares:                     R775 650
 Number of shares subsequently sold:         6 900
 Date of transaction:                        25 June 2021
 Transaction price per share:                R51.71
 Value of shares sold:                       R356 799
 Number of shares retained:                  8 100
 Value of shares retained:                   R418 851
 Nature of interest:                         Direct beneficial
 Clearance obtained:                         Yes


 Executive Director:                         L Olivier
 Nature of transaction:                      Nil cost vesting of Forfeitable Share Awards
 Number of forfeitable shares delivered:     20 000
 Date of vesting:                            25 June 2021
 Class of shares:                            Ordinary shares
 Price per share:                            R51.71
 Market value of shares:                     R1 034 200
 Number of shares subsequently sold:         9 200
 Date of transaction:                        25 June 2021
 Transaction price per share:                R51.71
 Value of shares sold:                       R475 732
 Number of shares retained:                  10 800
 Value of shares retained:                   R558 468
 Nature of interest:                         Direct beneficial
 Clearance obtained:                         Yes


The following participant elected to sell the vested forfeitable shares on-market:

 Company secretary:                          D Muller
 Nature of transaction:                      Nil cost vesting of Forfeitable Share Awards
 Number of forfeitable shares delivered
 and sold:                                   20 000
 Date of vesting:                            25 June 2021
 Class of shares:                            Ordinary shares
 Date of transaction:                        25 June 2021
 Transaction price per share:                R51.71
 Total value of shares sold:                 R1 034 200
 Nature of interest:                         Direct beneficial
 Clearance obtained:                         Yes


Allocation of the 2021 RSP long-term incentive scheme

The restricted forfeitable shares are issued at nil cost and may vest, subject to
performance conditions being met over three financial years. The performance conditions
are linked to the growth in comparable headline earnings per share. Dividends earned over
the term of the scheme are payable upon vesting, pro-rated to the number of restricted
forfeitable shares that vest in participants.

In compliance with rule 3.63 of the JSE Listings Requirements, the following information
is disclosed:

 Name of director:                          P Boone
 Designation:                               Chief Executive Officer
 Name of company:                           Pick n Pay Stores Limited
 Number of forfeitable shares:              500 000
 Acceptance of award:                       25 June 2021
 Date of vesting:                           25 June 2024
 Nature of transaction:                     Off-market allocation of restricted forfeitable
                                            shares
 Nature of interest:                        Direct beneficial
 Clearance obtained:                        Yes


 Name of director:                          L Olivier
 Designation:                               Chief Finance Officer
 Name of company:                           Pick n Pay Stores Limited
 Number of forfeitable shares:              87 000
 Acceptance of award:                       25 June 2021
 Date of vesting:                           25 June 2024
 Nature of transaction:                     Off-market allocation of restricted forfeitable
                                            shares
 Nature of interest:                        Direct beneficial
 Clearance obtained:                        Yes
 Name of director:                          S Ackerman-Berman
 Designation:                               Executive Director
 Name of company:                           Pick n Pay Stores Limited
 Number of forfeitable shares:              55 000
 Acceptance of award:                       25 June 2021
 Date of vesting:                           25 June 2024
 Nature of transaction:                     Off-market allocation of restricted forfeitable
                                            shares
 Nature of interest:                        Direct beneficial
 Clearance obtained:                        Yes


 Name of director:                         J Ackerman
 Designation:                              Executive Director
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             27 000
 Acceptance of award:                      25 June 2021
 Date of vesting:                          25 June 2024
 Nature of transaction:                    Off-market allocation of restricted forfeitable
                                           shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes


 Name of company secretary:                D Muller
 Designation:                              Company Secretary
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             29 000
 Acceptance of award:                      25 June 2021
 Date of vesting:                          25 June 2024
 Nature of transaction:                    Off-market allocation of restricted forfeitable
                                           shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes


By order of the board
Cape Town
25 June 2021

Sponsor:
Investec Bank Limited

Date: 25-06-2021 03:00:00
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