MASSMART HOLDINGS LIMITED - Potential store closure of Game stores in East and West Africa

Potential store closure of Game stores in East and West Africa

[Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Company registration No. 1940/014066/06
JSE Code: MSM
ISIN: ZAE 000152617
("Massmart", "Company" or the "Group")


Potential store closure of Game stores in East and West Africa

Shareholders are referred to the Integrated Annual Report for the year ended 26 December 2021 where
Massmart disclosed in the notes that, following a review of its Game store portfolio in East and West
Africa, it was exploring the possible disposal of the East and West African stores to local investors and
entrepreneurs with a more intimate understanding of regional and local market conditions.

As a result, Massmart initiated a process over a 12-month period to investigate, as a preferred option, the
opportunity to sell our East and West African stores to local investors. Unfortunately, this initiative did not
deliver a meaningful outcome.

Consequently, we have initiated potential store closure consultations with our staff members in our Game
stores in East and West Africa.


5 October 2022
Johannesburg

Sponsor
J.P. Morgan Equities South Africa (Pty) Ltd

Date: 05-10-2022 07:06:00
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