Competition Commission Recommendation In Relation To The Disposal Of The Building Company Pepkor Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2017/221869/06) Share code: PPH Debt code: PPHI ISIN: ZAE000259479 (“Pepkor” or the “Company”) COMPETITION COMMISSION RECOMMENDATION IN RELATION TO THE DISPOSAL OF THE BUILDING COMPANY Pepkor shareholders and noteholders are referred to the SENS announcement released by the Company on 4 August 2020 where it announced that it had entered into a sale and purchase agreement on 3 August 2020 with Cashbuild Limited (“Cashbuild”), for Cashbuild to acquire 100% of the issued share capital of The Building Company Proprietary Limited (the “Transaction”). The Competition Commission announced their recommendation on Friday 28 May 2021 that the Transaction be prohibited as, in their view, the merger will result in a substantial prevention or lessening of competition in the market for building materials, hardware and related products in South Africa. The recommendation made by the Competition Commission will be considered by the Competition Tribunal at a hearing where arguments from all parties will be considered in finalisation of its ruling. Parow 31 May 2021 Equity sponsor PSG Capital Debt sponsor Rand Merchant Bank (A division of FirstRand Bank Limited) Legal advisor to Pepkor Werksmans Date: 31-05-2021 07:30:00 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.