PICK N PAY STORES LIMITED - Further Trading Statement in respect of the 26 weeks ended 27 August 2023 (H1 FY24)

Further Trading Statement in respect of the 26 weeks ended 27 August 2023 (H1 FY24)

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" or "the Group")


FURTHER TRADING STATEMENT IN RESPECT OF THE 26 WEEKS ENDED 27 AUGUST 2023 (H1 FY24)

Shareholders are referred to the announcement released on the Johannesburg Stock Exchange
News Service (SENS) on 2 October 2023, where the Group advised the expected H1 FY24 earnings
ranges for Earnings per share (EPS), Headline EPS (HEPS) and Pro forma HEPS.

The Group advises that subsequent to the release of the previous SENS announcement, we have
concluded the technical application of IAS29 Financial Reporting in Hyperinflation Economies, in
respect of the Group's 49% investment in TM Supermarkets in Zimbabwe. Pursuant to the
finalisation of hyperinflation accounting, the Group's EPS is now expected to be within the -128.12
cents to -109.26 cents range (previously -98.18 cents to -79.31 cents).

The revised ranges are outlined below:

                                                                26 weeks to            26 weeks to
                                                             27 August 2023         28 August 2022
                                                             Expected range               Reported
                                                            Cents per share        Cents per share
Reported earnings metrics
(Loss)/earnings per share (EPS)                          -128.12 to -109.26                  94.34
Diluted EPS                                              -127.79 to -108.95                  94.23

Guidance for HEPS and pro forma HEPS as reported on SENS on 2 October 2023 remains unchanged.

Final result announcement

Shareholders are advised that the Group will release its financial results for H1 FY24 on SENS just
after 7:05am on Wednesday 18 October 2023. An in-person and online results presentation will
follow at 8:00am. Stakeholders are invited to follow the live results webcast via the following link:
www.corpcam.com/pnp18102023.
The slides accompanying the result presentation will be available on the Pick n Pay Investor Relations
website at www.picknpayinvestor.co.za shortly before the commencement of the presentation.

The information contained in this announcement is presented in accordance with the JSE Listings
Requirements, is the responsibility of the Board of directors of the Group and has not been reviewed
by or reported on by the Group's external auditors.


By order of the Board
Cape Town
17 October 2023

Sponsor: Investec Bank Limited

Date: 17-10-2023 05:00:00
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