MR PRICE GROUP LIMITED - Change to the Board: Retirement of Co-Founder and Honorary Chairman

Change to the Board: Retirement of Co-Founder and Honorary Chairman

Mr Price Group Limited
Registration number 1933/004418/06
Incorporated in the Republic of South Africa
ISIN: ZAE000200457
LEI number: 378900D3417C35C5D733
JSE and A2X share code: MRP
("Mr Price" or "Company")

CHANGE TO THE BOARD: RETIREMENT OF CO-FOUNDER AND HONORARY CHAIRMAN

In compliance with paragraphs 3.59 of the JSE Limited (JSE) Listings Requirements, the Mr Price Board of
Directors (Board) hereby notifies shareholders that Stewart Cohen, co-founder and Honorary Chairman of
the Board, will retire on 27 August 2025. Stewart is due to retire by rotation at the upcoming Annual General
Meeting (AGM) and has indicated he will not offer himself for re-election.

Stewart, who co-founded Mr Price in 1985, was instrumental in disrupting apparel retail in South Africa when
he introduced Mr Price's fashion-value model. First operating as factory shops, he and co-founder Laurie
Chiappini focused on selling high quality merchandise at substantially lower prices, at a time when
fashionable clothing was not affordable or accessible to the broader population.

He has been a key member of the board since 1989 when the Company operated under the name Specialty
Stores, serving as co-executive Chairman. He retired from his executive position in 1997 and went on to
serve as non-executive Director and Honorary Chairman. Stewart is a true servant leader and his two
greatest impacts relate to the people of Mr Price. Stewart and Laurie developed the Mr Price core beliefs of
Passion, Value and Partnership, which continue to influence the Mr Price way and are the foundation of the
Mr Price DNA. In the true spirit of partnership and under Stewart's leadership, the Mr Price Partners' share
trust was formed in 1993, with shares awarded to every store associate. Ownership in the Company by all
associates has been an important part of the Company's ethos since.

The decision by Stewart to retire coincides with several milestones. The Mr Price Group recently expanded
its store footprint to beyond 3000 stores, its revenue surpassed R40bn for the first time and this year the
group will celebrate 40 years since the opening of the first Mr Price store. With Stewart having reached his
own milestone of turning 80 earlier this year, he feels it is the right time to step away from his formal duties.

Stewart will continue to provide strategic input to management and the Board in a non-remunerated advisory
capacity. He remains a keen supporter of the Mr Price Foundation and will continue to provide guidance to
the Foundation and his personal social projects in education and entrepreneurship.

The Board and the more than 32,000 Mr Price associates extend heartfelt appreciation and gratitude to
Stewart for his four decades of dedicated service and visionary leadership. The incomparable way in which
he lives the Company's values has left an indelible mark on the organisation and every one of its associates.
His legacy will endure into the future as South Africans continue to benefit from the fashion-value
merchandise offered across the 15 trading chains of the Mr Price Group.

The implications of Stewart's retirement on Board leadership are being further considered, and any decisions
regarding this will be communicated in due course.

Shareholders will have the opportunity to acknowledge Stewart's contributions at the AGM on 27 August
2025.

For further information, please contact the Mr Price Group Investor Relations team.

Durban
9 June 2025

JSE Equity Sponsor and Corporate Broker
Investec Bank Limited

Date: 09-06-2025 03:00:00
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