PICK N PAY STORES LIMITED - Consultation process in terms of section 189A of the Labour Relations Act

Consultation process in terms of section 189A of the Labour Relations Act

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")

CONSULTATION PROCESS IN TERMS OF SECTION 189A OF THE LABOUR RELATIONS ACT

Shareholders are advised that Pick n Pay has initiated a consultation process in terms of Section 189A
of the Labour Relations Act, 66 of 1995, with its primary labour union, SACCAWU, and other
representative parties. The consultation relates to certain elements of the Company's store labour
model, including scheduling flexibility and the alignment of benefits and allowances, which are not in
line with market practices and peer benchmarks.

The consultation forms part of the strategic action underway to restore the Company to sustainable
profitability and to strengthen the long-term competitiveness of its core supermarket business.

The objective of the process is not to reduce head count, rather to improve labour flexibility and cost
sustainability, while retaining jobs wherever possible and creating the conditions necessary for
sustainable employment growth over the longer term.

The consultation is focused on addressing labour practices that have become increasingly inflexible
and costly over time, and which are no longer aligned with prevailing retail market practice.

The consultation process represents a lawful and structured mechanism to engage meaningfully on
these matters, including the consideration of alternatives, and does not represent a predetermined
outcome.

The process applies to specific store-based employees within the Non-Management Bargaining Unit
and excludes head office employees and management structures which have already been part of a
process over the last 24 months with a wage and salary freeze combined with a reduction in numbers
due to restructuring.

Pick n Pay is committed to conducting the process fairly, constructively and in full compliance with
applicable labour legislation.

Further updates will be provided as and when appropriate.

By order of the board
Cape Town
4 May 2026

Sponsor: Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 04-05-2026 09:00:00
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