Exercise Of Call Options To Acquire A Controlling Interest In Shoprite Holdings Limited Steinhoff Africa Retail Limited (Previously K2017221869 (South Africa) Proprietary Limited) (Incorporated in the Republic of South Africa) (Registration number: 2017/221869/06) Share Code: SRR ISIN: ZAE000247995 (“STAR” or the “Company”) EXERCISE OF CALL OPTIONS TO ACQUIRE A CONTROLLING INTEREST IN SHOPRITE HOLDINGS LIMITED (“SHOPRITE”) Shareholders are referred to STAR’s Pre-listing Statement dated 4 September 2017 (“Pre-listing Statement”) and the successful listing by the Company on the main board of the JSE Limited (“JSE”) on 20 September 2017 (the “Listing”). In addition to the Listing and as referred to in the Pre-listing Statement, STAR has, as part of its planned expansion and subject to certain terms and conditions, exercised call options to acquire approximately 23.1% economic interest in and approximately 50.6% voting control of Shoprite. STAR’s vision is to continue to focus on being the preferred and most convenient destination for the African consumer and all other stakeholders, by providing everyday essential products at affordable prices. In furthering this vision, STAR remains of the opinion that a strategic investment in a leading African food and grocery retailer will support its ability to further enhance its relevance to the growing African consumer base, and better protect its ability to compete against international retailers. In this regard, the investment in Shoprite, one of Africa’s leading food and grocery retailers with a track record of successful growth and expansion in South Africa and across the continent, will add a complementary food and grocery offering to STAR. The implementation of the investment in Shoprite is subject to a number of conditions precedent as set out in the Pre-listing Statement, which include, inter alia, merger filings with various African Competition Authorities. To this end, the filings are being completed and will be submitted to the relevant authorities in the foreseeable future. Shareholders will be informed once all the conditions precedent for the implementation of the transaction have been met. Stellenbosch 30 November 2017 Sponsor PSG Capital Date: 30/11/2017 04:48:00 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.