Notice of briefing to stakeholders on IFRS 16: Leases Pick n Pay Stores Limited (Pick n Pay or the Group) Incorporated in the Republic of South Africa Registration number 1968/008034/06 Share code: PIK ISIN: ZAE000005443 PICK N PAY: NOTICE OF BRIEFING TO STAKEHOLDERS ON IFRS 16: LEASES Pick n Pay Stores Limited will hold a briefing for shareholders and analysts on the Group’s adoption of the new international financial reporting standard IFRS 16: Leases (IFRS 16). IFRS 16 has no impact on the Group’s underlying economic model, revenues, cash flow, operations or strategy. Its purpose is to align the accounting of leased assets with owned assets. Adoption of the standard entails significant changes to the organisation of our balance sheet and income statement, with related implications for the presentation of certain performance and gearing metrics. Pick n Pay will provide stakeholders with a summary of the provisions of the standard and, using the Group’s published 2019 financial statements, will detail the implications for the Group’s financial statements and key performance metrics. The briefing will be provided by way of a live webcast, and include a short introduction from CEO Richard Brasher, and a presentation by our CFO, Lerena Olivier, with the opportunity for Q&A. Webcast details: Date: Wednesday, 25 September 2019 Time: 9:00am Webcast link: https://www.corpcam.com/PicknPay25092019 All presentation materials, including a recording of the event, will be available on our website at www.picknpayinvestor.co.za Cape Town 16 September 2019 Sponsor: Investec Bank Limited Date: 16/09/2019 04:00:00 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.