Report on proceedings at the Annual General Meeting 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) REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING Shareholders are advised that the Annual General Meeting (AGM) of Pick n Pay was held on 28 June 2021 and the ordinary and special resolutions proposed at the AGM were approved by the requisite majority. However, the Group’s non-binding advisory votes 1 and 2 in respect of its remuneration policy and remuneration implementation did not receive the requisite majority of 75%, and further shareholder engagement will follow in line with paragraph 3.84(j) of the JSE Listings Requirements and the King IV Report on Corporate Governance. Please refer to the note regarding further shareholder engagement at the close of this announcement for further information. The following information is provided: Total issued number of ordinary shares: 493 450 321 Treasury shares not voted: 6 168 489 Number of ordinary shares that could have been voted at the meeting: 487 281 832 Number of B ordinary shares that could have been voted at the meeting: 259 682 869 Total number of shares that could have been exercised at the meeting: 746 964 701 Total number of shares present/represented including proxies at the meeting: 691 200 687 Number of ordinary shares represented at the meeting: 431 517 818 Number of B shares represented at the meeting: 259 682 869 Percentage of ordinary shares represented at the meeting: 87.45% Percentage of B shares represented at the meeting: 100.00% Abbreviations: ordinary shares (Ord) B ordinary shares (B Ord) Details of the results of voting at the AGM are as follows: Resolutions Shares voted Votes disclosed as a Number of shares Shares voted Shares disclosed as a percentage in relation to voted disclosed as a abstained percentage of the the Ord and B Ord shares percentage in disclosed as total number of voted at the meeting relation to the a percentage shares (Ord and B total issued in relation to Ord) voted at the share capital the total meeting (see above for issued share details of capital share capital) FOR AGAINST FOR AGAINST Ordinary resolution 100.00% 0.00% 100.00% Ord 0.00% Ord 431 426 531 Ord 87.43% Ord 0.02% Ord number 1: Appointment of 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord external auditors Ordinary resolution 81.89% 18.11% 70.44% Ord 29.56% Ord 410 387 467 Ord 83.17% Ord 4.28% Ord number 2.1: Director retirement 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord and re-election – Hugh Herman Ordinary resolution 83.06% 16.94% 72.86% Ord 27.14% Ord 431 423 804 Ord 87.43% Ord 0.02% Ord number 2.2: Director retirement 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord and re-election – Jeff van Rooyen Ordinary resolution 98.71% 1.29% 97.94% Ord 2.06% Ord 431 424 504 Ord 87.43% Ord 0.02% Ord number 2.3: Director retirement 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord and re-election – Audrey Mothupi Ordinary resolution 97.13% 2.87% 95.40% Ord 4.60% Ord 431 424 504 Ord 87.43% Ord 0.02% Ord number 2.4: Director election – 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord David Robins Ordinary resolution 99.22% 0.78% 98.75% Ord 1.25% Ord 431 424 504 Ord 87.43% Ord 0.02% Ord number 2.5: Director election – 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord Pieter Boone Ordinary resolution 82.04% 17.96% 71.22% Ord 28.78% Ord 431 423 804 Ord 87.43% Ord 0.02% Ord number 3.1: Re-appointment of 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord Jeff van Rooyen to the audit, risk and compliance committee Ordinary resolution 90.84% 9.16% 85.33% Ord 14.67% Ord 431 424 504 Ord 87.43% Ord 0.02% Ord number 3.2: Re- appointment of 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord Audrey Mothupi to the audit, risk and compliance committee Ordinary resolution 99.78% 0.22% 99.65% Ord 0.35% Ord 431 424 504 Ord 87.43% Ord 0.02% Ord number 3.3: Re-appointment of 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord David Friedland to the audit, risk and compliance committee Ordinary resolution 100.00% 0.00% 100.00% Ord 0.00% Ord 431 424 504 Ord 87.43% Ord 0.02% Ord number 3.4: Appointment of 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord Mariam Cassim to the audit, risk and compliance committee Ordinary resolution 100.00% 0.00% 100.00% Ord 0.00% Ord 431 423 804 Ord 87.43% Ord 0.02% Ord number 3.5: Appointment of 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord Haroon Bhorat to the audit, risk and compliance committee Advisory vote 74.30% 25.70% 58.75% Ord 41.25% Ord 429 216 604 Ord 86.98% Ord 0.47% Ord number 1: Endorsement of the 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord remuneration policy for the 2021 annual financial period Advisory vote 63.15% 36.85% 40.97% Ord 59.03% Ord 431 426 625 Ord 87.43% Ord 0.02% Ord number 2: Endorsement of the 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord remuneration implementation report for the 2021 annual financial period Special resolution 80.70% 19.30% 69.09% Ord 30.91% Ord 431 409 832 Ord 87.43% Ord 0.02% Ord number 1: Directors’ fees for 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord the 2022 and 2023 annual financial periods Special resolution 99.72% 0.28% 99.55% Ord 0.45% Ord 431 401 625 Ord 87.43% Ord 0.02% Ord number 2.1: Financial assistance 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord to related or inter- related companies Special resolution 90.41% 9.59% 84.63% Ord 15.37% Ord 431 427 018 Ord 87.43% Ord 0.02% Ord number 2.2: Financial assistance 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord to persons Special resolution 98.71% 1.29% 97.93% Ord 2.07% Ord 431 414 458 Ord 87.43% Ord 0.02% Ord number 3: General approval to 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord repurchase Company shares Ordinary resolution 100.00% 0.00% 100.00% Ord 0.00% Ord 431 425 812 Ord 87.43% Ord 0.02% Ord number 4: Directors’ authority 100.00% B Ord 0.00% B Ord 259 682 869 B Ord 100.00% B Ord 0.00% B Ord to implement special and ordinary resolutions FURTHER SHAREHOLDER ENGAGEMENT Following the publication of its FY21 financial result, and in advance of its 2021 AGM, the Group engaged extensively with shareholders to provide greater insight into how, in its remuneration of senior management, the Board had sought to reflect the significant financial and operational impact the Covid-19 crisis, and the exceptional performance of senior management in mitigating these impacts. The Board recognises the fine balance that must be achieved between delivering remuneration outcomes that adequately incentivise and retain key executives and protecting shareholder interests. While the Board believes that it has maintained an appropriate balance, it has taken careful note of shareholder concern about the discretion applied in implementing remuneration policy. As the Group did not achieve the required 75% majority in respect of the advisory remuneration resolutions 1 and 2, the Board will seek to engage further with shareholders on its approach to, and implementation of, remuneration policy. It is therefore requesting that shareholders submit all questions and concerns to our company secretary, Debra Muller, at demuller@pnp.co.za by Friday, 9 July 2021. Thereafter, individual shareholder engagements will be scheduled with our Board Chair and Remuneration Committee Chair, as requested, to be completed by the end of July 2021. The Board is committed to resolving all legitimate shareholder concerns, and to strengthening its remuneration policies and disclosures. By order of the Board Cape Town 28 June 2021 Sponsor: Investec Bank Limited Date: 28-06-2021 02:01:00 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.