BOXER RETAIL LIMITED - Dealings in securities by directors

Dealings in securities by directors

Boxer Retail Limited
(formerly Boxer Retail Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2024/392006/06)
JSE share code: BOX
ISIN: ZAE000339891
(the "Company")

DEALINGS IN SECURITIES BY DIRECTORS

Dealings in securities by directors: acceptance of awards of Restricted Forfeitable
Shares in terms of the Boxer Retail Limited Long Term Incentive Plan ("LTIP").

The Restricted Forfeitable Shares are issued at nil cost, at a deemed price of R64.34
per Restricted Forfeitable Share, based on the 5 day VWAP to 19 June 2025. The
Restricted Forfeitable Shares will vest on 30 June 2028, subject to performance
conditions being met. The performance conditions include both personal key
performance indicators and financial metrics linked to the financial performance of the
Company. Dividends earned over the performance period are payable upon vesting,
pro-rated to the number of Restricted Forfeitable Shares that ultimately vest.

In compliance with paragraph 3.63 of the JSE Limited Listings Requirements, the
following information is disclosed:

Name of Director:                      Marek Masojada
Name of Company:                       Boxer Retail Limited
Number of Restricted Forfeitable       158 533
Shares:
Date of transaction:                   30 June 2025
Date of vesting:                       30 June 2028
Nature of transaction:                 Off-market acceptance of Restricted
                                       Forfeitable Shares in terms of the LTIP
Deemed price per security:             R64.34
Deemed value of transaction:           R10 200 000.00
Nature of interest:                    Direct beneficial
Clearance obtained:                    Yes

Name of Director:                      David Wayne
Name of Company:                       Boxer Retail Limited
Number of Restricted Forfeitable       55 953
Shares:
Date of transaction                    30 June 2025
Date of vesting:                       30 June 2028
Nature of transaction:                 Off-market acceptance of Restricted
                                       Forfeitable Shares in terms of the LTIP
Deemed price per security:             R64.34
Deemed value of transaction:           R3 600 000.00
Nature of interest:                    Direct beneficial
Clearance obtained:                    Yes

By order of the Board
Durban
30 June 2025

Sponsor: RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 30-06-2025 04:30:00
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