PICK N PAY STORES LIMITED - Announcement of changes to Group management

Announcement of changes to Group management

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")

Announcement of changes to Group management

Group CEO Sean Summers has appointed his senior leadership team as a key step in the drive to
return Pick n Pay supermarkets to growth and profitability whilst ensuring the Online, Boxer and
Clothing growth drivers continue to deliver. The appointments are made in conjunction with a
structural realignment to allow the Group to focus with clarity on customers, buying, store execution
and the store estate, and are effective from 1 March 2024.

Dallas Langman has been appointed to the newly created position of Managing Executive of the Pick
n Pay Retail Division. Dallas (54) has been with the Group for 34 years, having most recently been
Managing Executive of the Rest of Africa division. Prior to this, his extensive experience includes
senior management roles within Pick n Pay Supermarkets, Hypermarkets, and Franchise. Dallas is
respected for his ability to drive consistent operational standards and team performance. Dallas will
work closely with Sean to lead a step-change in the performance of the core Pick n Pay retail
business.

Within Pick n Pay Retail, five regional heads and a head of Retail Hypermarkets have been
appointed. These appointments will drive enhanced regional management intensity at store level,
leading to improved execution at stores, and allow Pick n Pay to get much closer to customers.

Johan Grobler will take over Rest of Africa leadership from Dallas and will have additional
responsibility for Value Added Services and Tomis, the newly acquired meat producing and
processing facility. Johan (57) has been with the Group for 32 years, most recently being Head of
Fresh within Pick n Pay Retail.

The Group Executive will consist of six strategic roles. In line with the Group's transformation
objectives, three of the Group Executive are women, including Group CFO Lerena Olivier, Chief
People Officer Thembi Mbengashe, and Hazel Pillay, who will continue as Managing Executive for
Clothing. Marek Masojada remains Boxer Managing Executive.

The Group expects to release a sales update during the latter two weeks of February 2024.

By order of the Board
Cape Town
11 January 2024

Sponsor: Investec Bank Limited

Date: 11-01-2024 11:00:00
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