Pepkor - Moody’s Credit Rating Action Pepkor Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2017/221869/06) Share Code: PPH Debt Code: PPHI ISIN: ZAE000259479 (“Pepkor” or the “group”) PEPKOR - MOODY’S CREDIT RATING ACTION Shareholders and noteholders are advised that the rating agency Moody's Investors Service (“Moody's”) has affirmed Pepkor’s Ba3 Global Scale Long Term Rating and repositioned the National Scale Long Term Rating (“NSLTR”) assigned to Pepkor to A2.za from A3.za. This reflects an improved (NSLTR) credit rating. Moody's states, "[the rating action] reflects the [group’s] strong liquidity position with no debt maturities in the next 18 months." As communicated during the group’s FY20 results published on 23 November 2020, the efficiency and flexibility of the group’s balance sheet was enhanced substantially with a R6.9 billion reduction in net debt to R7.1 billion at 30 September 2020 (from total operations, excluding the adoption of IFRS 16). Parow 27 November 2020 Equity Sponsor PSG Capital Debt Sponsor Rand Merchant Bank (A division of Firstrand Bank Limited) Date: 27-11-2020 08:00:00 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.