PICK N PAY STORES LIMITED - Appointment of independent non-executive director

Appointment of independent non-executive director

Pick n Pay Stores Limited
Incorporated in the Republic of South Africa
Registration number: 1968/008034/06
JSE Share Code: PIK
ISIN code: ZAE000005443
(“Pick n Pay”)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

In line with its commitment to shareholders to strengthen the independence of the Board of Directors of
Pick n Pay (“the Board”), and in compliance with Section 3.59(a) of the Listing Requirements of the JSE
Limited, Pick n Pay is pleased to announce the appointment of James Formby as an independent non-
executive director to the Board, effective 10 October 2022.

James Formby is a chartered accountant with a Masters in Philosophy in Management Studies from
Cambridge University. James has recently stepped down as the Chief Executive Officer (“CEO”) of Rand
Merchant Bank (“RMB”), after a successful 25-year career with the FirstRand Group.

James joined RMB in 1997 as a Corporate Finance Transactor and held a number of senior roles over the
course of his career, including: Head: Corporate Finance; Deputy Head: Investment Banking Division and
Head: Coverage before being appointed as CEO of RMB in September 2015, alongside appointment to the
FirstRand Stratco.

James’ transactional skills and his ability to structure large deals made him a core member in many B-BBEE
transactions, IPOs, de-listings, mergers, acquisitions and disposals over his tenure with RMB. As CEO, James
played a significant role in developing RMB’s strategy.

Pick n Pay looks forward to the valuable contribution that James will make to the Board, given his strong
commercial skills and the diversity of his professional experience.

By order of the Board

Cape Town
10 October 2022

Sponsor:
Investec Bank Limited

Date: 10-10-2022 10:00:00
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