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. A Jakoet elected to sell his remaining share options on market as detailed below. The share options were net settled. Director : A Jakoet Company : Pick n Pay Stores Limited Date of transaction : 4 February 2020 Nature of transaction : Exercise of share options Class of security : Ordinary Number of share options exercised : 273 542 Grant date : 29 April 2011 Grant price : R41.70 Exercise value : R11 406 701.49 Number of share options sold to : 174 307 cover grant price Value : R7 268 601.90 Number of share options taken up : 99 235 Weighted average price per share : 6,568.85 cents per share High : R66.00 Low : R65.60 Value : R6 518 598.30 Nature of interest : Direct beneficial Clearance obtained : Yes Cape Town 5 February 2020 Sponsor: Investec Bank Limited Date: 05-02-2020 05:29:00 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.