Dealings 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: award of forfeitable shares 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. The 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 headline earnings per share. In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: Name of director: RWP Brasher Designation: Chief Executive Officer Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 400 000 Acceptance of award: 20 November 2017 Date of vesting: 25 June 2020 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: RSJ van Rensburg Designation: Deputy Chief Executive Officer Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 140 000 Acceptance of award: 20 November 2017 Date of vesting: 25 June 2020 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: A Jakoet Designation: Chief Finance Officer Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 140 000 Acceptance of award: 20 November 2017 Date of vesting: 25 June 2020 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: SD Ackerman-Berman Designation: Director: Transformation Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 80 000 Acceptance of award: 20 November 2017 Date of vesting: 25 June 2020 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: JG Ackerman Designation: Director: Customer Services Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 40 000 Acceptance of award: 20 November 2017 Date of vesting: 25 June 2020 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of company secretary: DE Muller Designation: Company Secretary Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 40 000 Acceptance of award: 20 November 2017 Date of vesting: 25 June 2020 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes By order of the board Cape Town 21 November 2017 Sponsor: Investec Bank Limited Date: 21/11/2017 01:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.