PICK N PAY STORES LIMITED - Trading Statement for the 26 weeks ended 30 August 2026 and conclusion of store labour agreement

Trading Statement for the 26 weeks ended 30 August 2026 and conclusion of store labour agreement

Pick n Pay Stores Limited
Incorporated in the Republic of South Africa
Registration number: 1968/008034/06
JSE and A2X share code: PIK
ISIN code: ZAE000005443
(“Pick n Pay” or “the Company” or “the Group”)

Trading Statement for the 26 weeks ended 30 August 2026 and conclusion of store labour agreement

Trading statement for the 26 weeks ended 30 August 2026 (H1 FY27)

Pick n Pay is currently finalising its H1 FY27 results, which are expected to be released on SENS on
Monday, 26 October 2026. In terms of section 6.26 (a) of the JSE Limited Listings Requirements, the
Group advises shareholders that it expects the loss per share (EPS) and the headline loss per share
(HEPS) for H1 FY27 to decrease by more than 20% when compared with the loss per share and headline
loss per share reported for H1 FY26.

The Group is therefore able to advise investors that its expected H1 FY27 loss per share and headline
loss per share fall within the ranges set out in the table below.

The expected reduction in headline loss per share is the result of an improvement at the Group trading
profit level, where Boxer delivered trading profit growth and the Pick n Pay segment delivered a
moderately reduced trading loss. The Group notes that the large percentage reduction in the expected
headline loss per share is partially a function of the relatively small absolute H1 FY26 headline loss
(R439 million), which means that a moderate reduction in the absolute headline loss leads to a
relatively large percentage change.


                                       Expected range         Expected range      Reported
                                       improvement            26 weeks to         26 weeks to
                                       % change               30 August 2026      31 August 2025
                                                              H1 FY27             H1 FY26
                                                              Cents per share     Cents per share
 Loss per share (EPS)                  +40% to +50%           -40.52 to -33.77         -67.53
 Diluted EPS                           +40% to +50%           -40.52 to -33.77         -67.53
 Headline loss per share (HEPS)        +25% to +35%           -44.83 to -38.85         -59.77
 Diluted HEPS                          +25% to +35%           -44.83 to -38.85         -59.77

Successful store labour agreement reached and withdrawal of Section 189A consultation process

Shareholders are advised that Pick n Pay has reached agreement with SACCAWU, its primary labour
partner, marking a successful conclusion to the consultation process. As a result, the Company has
formally withdrawn the consultation process initiated in terms of Section 189A of the Labour Relations
Act. Further information will be provided as part of our H1 FY27 results publication on Monday, 26
October 2026.

The Company recognises that the consultation process has been difficult for those affected and
acknowledges the constructive and respectful manner in which our labour partners and employee
representatives engaged throughout the process.

H1 FY27 results announcement and presentation

Shareholders are advised that Pick n Pay plans to release its H1 FY27 financial results on SENS at
7:05am on Monday, 26 October 2026. An online and in-person results presentation will follow at
8:30am. Stakeholders are invited to register for the results presentation webcast via the following link:
https://www.corpcam.com/PnP26102026.

The slides accompanying the results presentation will be available on the Pick n Pay Investor Relations
website at www.picknpayinvestor.co.za shortly before the commencement of the presentation. A
playback of the webcast will be made available on our website approximately 2 hours after the
presentation.

The financial information on which this trading statement is based is the responsibility of the Board of
directors of the Group and has not been reviewed by or reported on by the Group’s external auditors.

By order of the Board

Cape Town
22 October 2026

Sponsor: RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 22/10/2026 05:00:00
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