PICK N PAY STORES LIMITED - Vesting of share options and sale of shares

Vesting of share options and sale of shares

Pick n Pay Stores Limited
Incorporated in the Republic of South Africa
Registration number 1968/008034/06
Share code: PIK
ISIN: ZAE000005443

VESTING OF SHARE OPTIONS AND SALE OF SHARES: DIRECTOR

In terms of the rules of the Pick n Pay Consolidated Share Incentive Scheme, share options are required
to be taken up within 6 months of retirement. During the course of his employment, A Jakoet was
granted a number of share options that subsequently vested. A Jakoet retired on 6 September 2019,
after which he was appointed as non-executive director. The share options set out below were
exercised, off market, at the strike prices disclosed. A Jakoet elected to sell the share options on market
as detailed below. To cover the grant price, a portion of the share options were sold back to the Pick n
Pay Employee Share Purchase Trust.

 Director                                       :   A Jakoet
 Company                                        :   Pick n Pay Stores Limited
 Date of transaction                            :   21 November 2019
 Nature of transaction                          :   Exercise of share options
 Class of security                              :   Ordinary

 Number of share options exercised              :   150 000
 Grant date                                     :   2008
 Strike price                                   :   R26.14
 Exercise value                                 :   R3 921 000

 Number of shares subsequently sold             :   94 266
 Date of transaction                            :   21 November 2019
 Weighted average price per share               :   R70.35
 High                                           :   R71.37
 Low                                            :   R69.72
 Value                                          :   R6 631 613.10
 Nature of interest                             :   Direct beneficial
 Clearance obtained                             :   Yes

 Number of share options exercised              :   200 000
 Grant date                                     :   2011
 Strike price                                   :   R41.70
 Exercise value                                 :   R8 340 000

 Number of shares subsequently sold             :   81 450
 Date of transaction                            :   21 November 2019
 Weighted average price per share               :   R70.35
 High                                           :   R71.37
 Low                                            :   R69.72
 Value                                          :   R5 730 007.50
 Nature of interest                             :   Direct beneficial
 Clearance obtained                             :   Yes

 Number of share options granted                :   300 000
 Number of share options exercised              :   26 458
 Grant date                                     :   2011
 Strike price                                   :   R41.70
 Exercise value of share options                :   R1 103 298.60
 Number of shares subsequently sold             :   10 776
 Date of transaction                            :   21 November 2019
 Weighted average price per share               :   R70.35
 High                                           :   R71.37
 Low                                            :   R69.72
 Value                                          :   R758 091.60
 Nature of interest                             :   Direct beneficial
 Clearance obtained                             :   Yes

 Balance of share options not yet               :   273 542
 exercised

 Company                                        :   Pick n Pay Employee Share Purchase Trust
 Date of transaction                            :   21 November 2019
 Nature of transaction                          :   Off market purchase of shares
 Class of security                              :   Ordinary
 Number of shares purchased                     :   189 966
 Price per share                                :   R70.35
 Value                                          :   R13 364 108.10
 Nature of interest                             :   Direct beneficial
 Clearance obtained                             :   Yes


Cape Town
25 November 2019

Sponsor: Investec Bank Limited

Date: 25-11-2019 02:30:00
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