Dividend declarations

Pick n Pay Holdings Limited RF – Tax reference number: 9050/141/71/3

Number of shares in issue: 527 249 082

Notice is hereby given that the directors have declared an interim dividend (number 66) of 9.40 cents per share out of income reserves.

The dividend declared is subject to dividend withholding tax at 15%.

There is no secondary tax on companies (STC) to be taken into account when determining the dividend tax to withhold.

The tax payable is 1.41000 cents per share, leaving shareholders who are not exempt from dividends tax with a net dividend of 7.99000 cents per share.

Dividend dates

The last day of trade in order to participate in the dividend (CUM dividend) will be Friday, 5 December 2014.

The shares will trade EX dividend from the commencement of business on Monday, 8 December 2014 and the record date will be Friday, 12 December 2014. The dividends will be paid on Monday, 15 December 2014.

Share certificates may not be dematerialised or rematerialised between Monday, 8 December 2014 and Friday, 12 December 2014, both dates inclusive.

On behalf of the board of directors.