Results of the 86th annual general meeting Mr Price Group Limited (Incorporated in the Republic of South Africa) (Registration number 1933/004418/06) ISIN: ZAE000200457 JSE and A2X Code: MRP ("Mr Price Group" or "the Group") RESULTS OF THE 86th ANNUAL GENERAL MEETING Shareholders are advised that at the Mr Price Group Annual General Meeting ("AGM") held yesterday, Wednesday, 28 August 2019, all the ordinary and special resolutions as set out in the notice of AGM dated 11 June 2019 were passed by the requisite majority of votes of shareholders present in person or represented by proxy. The total number of shares present or represented, including by proxy, at the AGM was 77.60% of the Group's issued share capital* as at Friday 23 August 2019, being the voting record date. The voting results were as follows: Resolutions Votes cast as a combined Votes cast as a % of the Shares voted as Shares abstained % of the total number of number of shares voted at Number of a % of issued as a % of issued shares voted (Ordinary the meeting shares voted share capital* share capital* shares and B ordinary Ordinary shares ("Ord") Ordinary shares Ordinary shares shares) at the meeting B ordinary shares ("B ("Ord") ("Ord") Ord") B ordinary B ordinary shares For Against For Against shares ("B Ord") ("B Ord") Ordinary resolution 1 - Adoption of the 99.87 0.13 99.84 Ord 0.16 Ord 195 278 531 Ord 75. 97 Ord 0.95 Ord annual financial statements 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Ordinary resolutions 2.1 to 2.3 - Re- election of directors retiring by rotation 2.1 Stewart Cohen 97.69 2.31 96.57 Ord 3.43 Ord 195 589 162 Ord 76.09 Ord 0.82 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 2.2 Keith Getz 91.46 8.54 87.30 Ord 12.70 Ord 196 432 892 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 2.3 Mark Bowman 94.03 5.97 91.15 Ord 8.85 Ord 196 432 892 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Ordinary resolution 3 - Confirmation of 99.91 0.09 99.87 Ord 0.13 Ord 196 432 852 Ord 76.42 Ord 0.50 Ord appointment of Mmaboshadi Chauke as 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord non-executive director Ordinary resolution 4 - Confirmation of 98.66 1.34 98.01 Ord 1.99 Ord 196 432 892 Ord 76.42 Ord 0.50 Ord appointment of Mark Stirton as executive 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord director Ordinary resolution 5 - Re-election of 83.29 16.71 75.23 Ord 24.77 Ord 196 432 772 Ord 76.42 Ord 0.50 Ord independent auditor 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Ordinary resolutions 6.1 to 6.4 - Election of members of the audit and compliance committee 6.1 Bobby Johnston 76.25 23.75 64.80 Ord 35.20 Ord 196 432 892 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 6.2 Daisy Naidoo 99.27 0.73 98.92 Ord 1.08 Ord 196 432 892 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 6.3 Mark Bowman 99.26 0.74 98.90 Ord 1.10 Ord 196 432 892 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 6.4 Mmaboshadi Chauke 99.37 0.63 99.06 Ord 0.94 Ord 196 432 852 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Ordinary resolution 7 - Non-binding 66.04 33.96 49.66 Ord 50.34 Ord 196 423 698 Ord 76.42 Ord 0.50 Ord advisory vote on the remuneration policy** 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord (see commentary below) Ordinary resolution 8 - Non-binding 61.29 38.71 42.28 Ord 57.72 Ord 192 929 183 Ord 75.06 Ord 1.86 Ord advisory vote on the remuneration 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord implementation report** (see commentary below) Ordinary resolution 9 - Adoption of the 99.98 0.02 99.98 Ord 0.02 Ord 195 269 284 Ord 75.97 Ord 0.95 Ord SETS committee report 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Ordinary resolution 10 - Signature of 99.98 0.02 99.98 Ord 0.02 Ord 196 428 075 Ord 76.42 Ord 0.50 Ord documents 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Ordinary resolution 11- Control of 95.13 4.87 92.78 Ord 7.22 Ord 196 430 125 Ord 76.42 Ord 0.50 Ord authorised but unissued shares 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Special resolutions 1.1 to 1.12 - Non- executive director remuneration: 1.1 Independent non-executive chair of 99.75 0.25 99.64 Ord 0.36 Ord 196 432 536 Ord 76.42 Ord 0.50 Ord the board - R 1 573 638 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.2 Honorary chair of the board - R786 98.55 1.45 97.84 Ord 2.16 Ord 196 243 044 Ord 76.35 Ord 0.57 Ord 819 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.3 Lead independent director of the 99.89 0.11 99.84 Ord 0.16 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord board - R465 888 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.4 Non-executive directors - R390 297 99.89 0.11 99.84 Ord 0.16 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.5 Audit and compliance committee chair 99.90 0.10 99.85 Ord 0.15 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord - R270 350 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.6 Audit and compliance committee 99.91 0.09 99.87 Ord 0.13 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord members - R144 166 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.7 Remuneration and nominations 99.90 0.10 99.85 Ord 0.15 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord committee chair - R198 947 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.8 Remuneration and nominations 99.91 0.09 99.87 Ord 0.13 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord committee members - R103 891 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.9 SETS committee chair - R158 567 99.90 0.10 99.85 Ord 0.15 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.10 SETS committee members - 99.91 0.09 99.87 Ord 0.13 Ord 196 432 853 Ord 76.42 Ord 0.50 Ord R 100 700 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.11 Risk and IT committee members - R 99.91 0.09 99.87 Ord 0.13 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord 125 862 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord 1.12 Risk and IT committee member - IT 99.91 0.09 99.87 Ord 0.13 Ord 196 432 203 Ord 76.42 Ord 0.50 Ord specialist - R 284 112 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Special resolution 2 - General authority to 99.39 0.61 99.08 Ord 0.92 Ord 191 109 465 Ord 74.35 Ord 0.50 Ord repurchase shares 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord Special resolution 3 - Financial assistance 98.08 1.92 97.16 Ord 2.84 Ord 196 433 180 Ord 76.42 Ord 0.50 Ord to related or inter-related companies 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord * The total issued share capital as at the voting record date was 257,045,727 ordinary shares and 7,895,234 B-ordinary shares ** Ahead of the AGM the Group sent communication to its 20 largest shareholders representing approximately 49.9% of its issued ordinary shares for purposes of engaging generally on the resolutions proposed at the AGM and particularly on the Group's remuneration policy and remuneration implementation report. Through this process, senior management, the chair of the Remuneration and Nominations Committee and the Group Head of Investor Relations actively engaged with 14 of these 20 shareholders. Mr Price Group is disappointed at the overall result of the voting on these resolutions, particularly given the positive results of the remuneration resolutions at the 2018 AGM and the policy and implementation adjustments that have been made over the course of the 2019 financial year. The Group strives to apply its remuneration philosophy of "partnership" consistently and appropriately and will continue its efforts to engage with shareholders to understand more fully the concerns around the remuneration policy and implementation thereof. Accordingly, shareholders are invited to advise the Group of their reasons for their dissenting votes on the remuneration policy and/or the implementation thereof, and whether they wish to engage with the Group on these issues. Correspondence in this regard should be addressed by email to the Head of Investor Relations, Matthew Warriner (mwarriner@mrpg.com), by 30 September 2019. Thereafter the date and time of requested engagements will be scheduled with shareholders individually. Durban 29 August 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 29/08/2019 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.