Release of Preliminary Information Memorandum on website Woolworths Holdings Limited (Incorporated in the Republic of South Africa) Registration number 1929/001986/06 Share code: WHL ISIN: ZAE000063863 Bond company code: WHLI ("the Group") RELEASE OF PRELIMINARY INFORMATION MEMORANDUM ON WEBSITE Shareholders are advised that the Group has today launched a bond issue in the Australian Debt Capital Markets as part of the Group’s normal refinancing process. The proceeds of the bond issue will be used to refinance existing debt maturities in the bank market, which will allow the Group to diversify its sources of funding and lengthen its debt maturity profile in Australia. The associated preliminary information memorandum (Preliminary Information Memorandum) can be accessed from today, 18 November 2019, on the Group’s website at: https://www.woolworthsholdings.co.za/wp-content/uploads/2019/11/preliminary-memorandum-nov-2019.pdf. Cape Town 18 November 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) DISCLAIMER This announcement and/or the Preliminary Information Memorandum does not constitute an offer or form part of any offer or invitation to purchase, subscribe for, sell or issue, or a solicitation of any offer to purchase, subscribe for, sell or issue, any securities (including the notes) in any jurisdiction, including an offer to the public or section of the public in any jurisdiction. The content of this announcement and/or the Preliminary Information Memorandum should not be construed as business, legal or tax advice in terms of the South African Financial Advisory and Intermediary Services Act, 2002 or otherwise. It is not intended to provide the basis of any credit or other evaluation and should not be considered as a recommendation by the Group that any recipient of this announcement or the Preliminary Information Memorandum should acquire any notes. Neither the Group nor any of its advisors or representatives is making any representation to any prospective investor regarding the legality of an investment in the notes by such prospective investor under the laws and regulations applicable to such prospective investor. Prospective investors should consult their own professional advisers before making any investment decision with regard to the notes, among other things, to consider such investment decision in light of his or her personal circumstances and in order to determine whether or not such prospective investor is eligible to purchase the notes. Date: 18/11/2019 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.