PICK N PAY HOLDINGS LIMITED - Trading Statement

Trading Statement

Pick n Pay Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009610/06)
Share code: PWK ISIN code: ZAE000005724

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

Trading update

Shareholders are advised that Pick n Pay Holdings Limited and Pick n Pay Stores Limited (“the
Group”) are in the process of finalising their financial results for the annual financial period
ended 3 March 2013, which are expected to be published on 23 April 2013.

During the review period the Group adopted a 52 week financial reporting calendar for all
future annual financial periods. This change will align financial reporting with Group
operational structures. As a result, the 2013 annual financial period ended on 3 March 2013
compared to 29 February 2012 in the comparative period. The effect of the additional trading
days is included in the 2013 reporting period.

The Group experienced a challenging trading year with turnover growth for the period,
excluding the additional trading days, at 6.3% and growth in comparable stores of 3.0%.
Turnover growth, including the additional trading days, is 7.1%.The second half of the trading
period resulted in encouraging turnover growth of 8.2%, compared to the 5.9% achieved in
the first half.

The Group improved trading profit in the second half of the year. However, given our poor
performance in the first half, the results for the 2013 annual financial period compared to that
of the previous period will fall into the ranges as detailed below.

In the prior period we disposed of Franklins, our Australian operation, and this was disclosed
as a discontinued operation. Included in the prior year basic earnings per share was a profit
of R493m on the disposal Franklins.

•   EBITDA from continuing operations will decrease by between 5% and 15%;

•   HEPS and diluted HEPS from continuing operations will decrease by between 25% and
    35%. This compares to a 35.9% reduction in HEPS from continuing operations in the first
    half of the year;

•   EPS and diluted EPS from continuing operations will decrease by between 25% and 35%;

•   HEPS and diluted HEPS from total operations will decrease by between 20% and 30%;

•   EPS and diluted EPS from total operations will decrease by between 45% and 55% due to
    the profit on sale of Franklins being included in the prior year.

The information presented in this trading update has not been reviewed or reported on by the
Group’s auditors.

By order of the board
Cape Town
10 April 2013

Sponsor: Investec Bank Limited

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