PEPKOR HOLDINGS LIMITED - Pepkors credit rating review by Moodys

Pepkor’s credit rating review by Moody’s

PEPKOR HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: PPH
Debt Code: PPHI
LEI: 3789006D677C34F69875
ISIN: ZAE000259479
(“Pepkor” or the “group”)


PEPKOR’S CREDIT RATING REVIEW BY MOODY’S

Shareholders and noteholders are advised that the rating agency Moody's Investors Service
(“Moody's”) has concluded a periodic review of Pepkor with no change to credit ratings. Pepkor’s
Corporate Family Rating is Ba2 and its National Scale Long Term Rating is Aa1.za with a stable
outlook.

Moody’s highlights Pepkor's strong position in South Africa's value-focused non-grocery retail
market, stable profitability and robust credit metrics, despite weakening household spending.

Pepkor’s credit rating underpins its R10 billion Domestic Medium-Term Note (DMTN) Programme,
established in 2020 to diversify funding sources and optimise the group’s cost of capital. Through
multiple successful issuances since then, Pepkor has consistently secured market-leading rates,
reflecting investors’ confidence in its defensive, resilient business model and supporting its
market-leading growth strategy.



Parow
30 October 2026

Equity and Debt Sponsor
Investec Bank Limited




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Date: 30/10/2026 09:35:00
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