Enhanced Investments - Financial Portal

Further Trading Statement in respect of the 26 weeks ended 27 August 2023 (H1 FY24)

Published: 2023-10-17 18:00:32 ET

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


FURTHER TRADING STATEMENT IN RESPECT OF THE 26 WEEKS ENDED 27 AUGUST 2023 (H1 FY24)

Shareholders are referred to the announcement released on the Johannesburg Stock Exchange
News Service (SENS) on 2 October 2023, where the Group advised the expected H1 FY24 earnings
ranges for Earnings per share (EPS), Headline EPS (HEPS) and Pro forma HEPS.

The Group advises that subsequent to the release of the previous SENS announcement, we have
concluded the technical application of IAS29 Financial Reporting in Hyperinflation Economies, in
respect of the Group’s 49% investment in TM Supermarkets in Zimbabwe. Pursuant to the
finalisation of hyperinflation accounting, the Group’s EPS is now expected to be within the -128.12
cents to -109.26 cents range (previously -98.18 cents to -79.31 cents).

The revised ranges are outlined below:

                                                                 26 weeks to            26 weeks to
                                                              27 August 2023         28 August 2022
                                                              Expected range               Reported
                                                              Cents per share        Cents per share
 Reported earnings metrics
 (Loss)/earnings per share (EPS)                          -128.12 to -109.26                    94.34
 Diluted EPS                                              -127.79 to -108.95                    94.23

Guidance for HEPS and pro forma HEPS as reported on SENS on 2 October 2023 remains unchanged.

Final result announcement
Shareholders are advised that the Group will release its financial results for H1 FY24 on SENS just
after 7:05am on Wednesday 18 October 2023. An in-person and online results presentation will
follow at 8:00am. Stakeholders are invited to follow the live results webcast via the following link:
www.corpcam.com/pnp18102023.
The slides accompanying the result presentation will be available on the Pick n Pay Investor Relations
website at www.picknpayinvestor.co.za shortly before the commencement of the presentation.


The information contained in this announcement is presented in accordance with the JSE Listings
Requirements, 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
17 October 2023

Sponsor: Investec Bank Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.