Dealing in securities by directors Pick n Pay Stores Limited (Incorporated in the Republic of South Africa) (Registration number: 1968/008034/06) Share Code: PIK ISIN code: ZAE000005443 PICK N PAY STORES LIMITED - DEALING IN SECURITIES BY DIRECTORS 1. Pick n Pay Stores Limited Forfeitable Share Plan Dealing in securities by executive directors and company secretary: award of forfeitable shares in terms of the Pick n Pay Stores Limited Forfeitable Share Plan, which was approved by shareholders at the General Meeting held on 12 February 2014. The forfeitable shares are issued at nil cost and may vest, subject to performance conditions being met over three financial years. The performance conditions are linked to the growth in headline earnings per share. In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: Name of director: RWP Brasher Designation: Chief Executive Officer Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 1 000 000 Acceptance of award: 29 November 2018 Date of vesting: 25 June 2021 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: RSJ van Rensburg Designation: Chief Information Officer Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 30 000 Acceptance of award: 29 November 2018 Date of vesting: 25 June 2021 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: A Jakoet Designation: Chief Finance Officer Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 30 000 Acceptance of award: 29 November 2018 Date of vesting: 25 June 2021 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: SD Ackerman-Berman Designation: Director: Transformation Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 15 000 Acceptance of award: 29 November 2018 Date of vesting: 25 June 2021 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of director: JG Ackerman Designation: Director: Customer Services Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 8 000 Acceptance of award: 29 November 2018 Date of vesting: 25 June 2021 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes Name of company secretary: DE Muller Designation: Company Secretary Name of company: Pick n Pay Stores Limited Number of forfeitable shares: 20 000 Acceptance of award: 29 November 2018 Date of vesting: 25 June 2021 Nature of transaction: Off-market allocation of forfeitable shares Nature of interest: Direct beneficial Clearance obtained: Yes 2. Vesting of share options and binary share options: Director Executive director, RWP Brasher, was granted share options as detailed below that subsequently vested in terms of the Pick n Pay Employee Share Incentive Scheme. These share options were exercised on 29 November 2018 at the strike price disclosed. Director : RWP Brasher Company : Pick n Pay Stores Limited Date of transaction : 29 November 2018 Nature of transaction : Off market exercise of share options Class of security : Ordinary Number of share options exercised : 1 000 000 Grant date : 14 November 2012 Vesting date : 14 November 2017 Grant price : R42.24 Share price on exercise date : R74.05 Number of shares taken up and sold : 429 575 (net-settled) – off market Net value of transaction : R31 810 000.00 Nature of interest : Direct beneficial Clearance obtained : Yes Executive director, RWP Brasher, was granted binary share options as detailed below. The 20-day VWAP up to and including 14 November 2018 was R69.18. The eligibility hurdle of R68.03 was thus met and the binary share options vested. The binary share options were exercised on 29 November 2018 at the strike price disclosed. Director : RWP Brasher Company : Pick n Pay Stores Limited Date of transaction : 29 November 2018 Nature of transaction : Off market exercise of binary share options Class of security : Ordinary Number of share options exercised : 1 000 000 Grant date : 14 November 2012 Vesting date : 14 November 2018 Grant price : R42.24 Share price on exercise date : R74.05 Net Value of transaction : R31 810 000.00 Number of shares taken up and sold : 429 575 (net-settled) – off market Nature of interest : Direct beneficial Clearance obtained : Yes Company : Pick n Pay Employee Share Purchase Trust Date of transaction : 29 November 2018 Nature of transaction : Off market purchase of shares Class of security : Ordinary Number of shares purchased : 859 150 Price per share : R74.05 Value of transaction : R63 620 057.50 Nature of interest : Direct beneficial Clearance obtained : Yes By order of the board Cape Town 30 November 2018 Sponsor: Investec Bank Limited Date: 30/11/2018 02:00:00 Produced by the JSE SENS Department. 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