PICK N PAY STORES LIMITED - Appointment of Independent Non-Executive Directors

Appointment of Independent Non-Executive 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)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS

In compliance with Section 3.59 of the Listing Requirements of the JSE Limited, Pick n
Pay is pleased to announce the appointment, effective 18 May 2020, of Mariam Cassim
and Dr Haroon Bhorat as independent non-executive directors.

In addition, with effect from 4 August 2020, Annemarie van der Merwe will be joining our
board, on which date Alex Mathole will be stepping off the board.

Mariam, a chartered accountant, is the Chief Officer: Financial Services for Vodacom. Her
career has encompassed work at Eskom, Sanlam, Thebe Investment Corporation and
Telesure Group Services. In addition to her executive role, Mariam has been a non-
executive director on the board of Supergroup for 5 years. Mariam has recently
completed her MBA.

Haroon is Professor of Economics and Director of the Development Policy Research Unit
at UCT. His areas of research cover labour, economics, poverty and income distribution.
He currently sits on the Presidential Economic Advisory Council, established by President
Ramaphosa to generate new ideas for economic growth, job creation and addressing
poverty. He is the independent non-executive chair of Sygnia Asset Management.

Annemarie has been a corporate lawyer and company secretary of companies in the
listed environment for nearly 30 years. She is currently the Executive Chair of the
FluidRock Governance Group, as well as the chair of the Bureau for Food and Agricultural
Policy, amongst others. She remains active in the King Committee on Corporate
Governance for South Africa and is a member of the JSE Advisory Committee.

Chairman of Pick n Pay, Gareth Ackerman, said “Alex Mathole has announced her
resignation from the board, effective 4 August 2020, as a result of the pressures of her
executive role in First Rand. The board expresses its sincere appreciation for the valuable
contribution Alex has made to Pick n Pay and wishes her all the best in the future. While
sad to say goodbye to Alex, I am delighted to announce that, following my promise to
shareholders at the 2019 AGM to review and refresh the composition of our board,
Mariam, Haroon and Annemarie have agreed to join us. We look forward to the
contribution they will make to board debates and decisions, given the diversity of their
roles and experience.”

By order of the board
Cape Town
18 May 2020

Sponsor:
Investec Bank Limited

Date: 18-05-2020 05:15:00
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