Vesting of share options and sale of shares: Director Pick n Pay Stores Limited Incorporated in the Republic of South Africa Registration number 1968/008034/06 Share code: PIK ISIN: ZAE000005443 (“Pick n Pay”) VESTING OF SHARE OPTIONS AND SALE OF SHARES: DIRECTOR Executive director, A Jakoet, was granted a number of share options, as detailed below, that subsequently vested in terms of the Pick n Pay Consolidated Share Incentive Scheme. These share options were exercised on 03 May 2018 at the strike price disclosed, and were subsequently sold back to the Pick n Pay Employee Share Purchase Trust. Director : A Jakoet Company : Pick n Pay Stores Limited Date of transaction : 03 May 2018 Nature of transaction : Off market exercise of share options Class of security : Ordinary Number of share options exercised : 250 000 at R12.00 Grant date : 2003 Vesting date : 2010 Exercise value : R20 167 500.00 Number of share options exercised : 195 at R23.59 Grant date : 2005 Vesting date : 2005 Exercise value : R15 730.65 Number of share options exercised : 5779 at R31.15 Grant date : 2007 Vesting date : 2011 Exercise value : R466 191.93 Number of share options exercised : 293 at R23.24 Grant date : 2008 Vesting date : 2008 Exercise value : R23 636.31 Number of share options exercised : 7 907 at R26.56 Grant date : 2008 Vesting date : 2012 Exercise value : R637 857.69 Number of share options exercised : 12 413 at R28.20 Grant date : 2009 Vesting date : 2013 Exercise value : R1 001 356.71 Number of share options exercised : 195 at R32.82 Grant date : 2005 Vesting date : 2005 Exercise value : R15 730.65 Number of share options exercised : 1 799 at R42.28 Grant date : 2010 Vesting date : 2014 Exercise value : R145 125.33 Number of share options exercised : 195 at R46.44 Grant date : 2014 Vesting date : 2014 Exercise value : R15 730.65 Number of shares subsequently sold : 278 776 Price per share : R80.67 Value : R22 488 859.92 Nature of interest : Direct beneficial Clearance obtained : Yes Company : Pick n Pay Employee Share Purchase Trust Date of transaction : 03 May 2018 Nature of transaction : Off market purchase of shares Class of security : Ordinary Number of shares purchased : 278 776 Price per share : R80.67 Value : R22 488 859.92 Nature of interest : Direct beneficial Clearance obtained : Yes Cape Town 03 May 2018 Sponsor: Investec Bank Limited Date: 03/05/2018 05:05:00 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.