Pick n Pay Stores (PIK) Trading update summary

Updated earnings outlook

• No longer expects an increased headline loss per share for FY26 compared to FY25, reversing previous guidance.

• Headline loss per share (HEPS) for FY26 now expected to improve by 10% to 20% over FY25.

• Loss per share (EPS) for FY26 anticipated to improve by 5% to 15% over FY25.

• FY26 trading loss after lease interest for the Pick n Pay segment projected between R2.0 billion and R2.1 billion, higher than FY25's R1.7 billion loss.

• Improved outlook driven by stronger-than-expected results from Boxer Retail and better trading and margin management in the final month.

Pro forma financial information and reporting

• Trading loss after lease interest is presented as pro forma financial information for illustrative purposes.

• Pro forma figures are based on audited financial statements and will be accompanied by an assurance report from auditors.

FY26 results release and presentation

• FY26 financial results will be released on 25 May 2026 at 7:05 am SAST.

• Results presentation will follow at 8:30 am, available both online and in-person.

• Presentation slides and webcast playback will be accessible on the investor relations website.