Lewis Group Ltd Reg. No. 2004/009817/06 JSE Share Code : LEW ISIN : ZAE 000058236 Bond Code: LEWI (“Lewis” or the “Company”) Directors Dealings in Securities In compliance with paragraphs 3.63 to 3.74 of the JSE Listings Requirements, the following should be noted: 1. The Lewis Executive Retention Scheme In terms of the Lewis Executive Retention Scheme, the following executive directors elected on 30 June 2022, to exercise their matching share awards which were granted on 28 June 2019 (refer to SENS announcement dated 4 July 2019): Matching Total Executive Designation Share Value Awards Exercised J. Enslin Executive Director, Lewis Group Ltd 115 816 R 5 767 637 J. Bestbier Executive Director, Lewis Group Ltd 70 256 R 3 498 749 W. Achmat Director, Lewis Stores (Pty) Ltd 34 140 R 1 700 172 D. Loudon Director, Lewis Stores (Pty) Ltd 57 204 R 2 848 759 D.M. Oliphant Director, Lewis Stores (Pty) Ltd 52 684 R 2 623 663 The awards were acquired for no consideration and are in respect of ordinary shares. The implied value was calculated using the share price of R 49.80, as at the close of business on 29 June 2022. 2. Sale of Shares The executive directors sold ordinary shares on the open market between 1 July 2022 and 5 July 2022, at a volume weighted price of R 48.63 with the highest and the lowest price being R 49.14 and R 48.11 respectively, in order to settle their tax liability on the awards vested above and to rebalance their portfolios: No. of Total Executive Designation Shares Value J. Enslin Executive Director, Lewis Group Limited 179 515 R 8 730 192 J. Bestbier Executive Director, Lewis Group Limited 70 256 R 3 416 697 W. Achmat Director, Lewis Stores (Pty) Ltd 16 046 R 780 351 D.M. Oliphant Director, Lewis Stores (Pty) Ltd 24 761 R 1 204 180 3. Transfer of Shares The following executive directors elected to take transfer of shares arising from share awards under the Lewis Executive Retention Scheme: No. of Implied Value Executive Designation Shares J. Bestbier Executive Director, Lewis Group 38 641 R 1 924 322 Limited W. Achmat Director, Lewis Stores (Pty) Ltd 36 871 R 1 836 176 D. Loudon Director, Lewis Stores (Pty) Ltd 88 666 R 4 415 567 D.M. Oliphant Director, Lewis Stores (Pty) Ltd 56 899 R 2 833 570 The implied values were calculated using the share price of R49.80, as at the close of business on 29 June 2022. The transfer will be made off-market. 4. The Lewis 2019 Executive Retention Scheme – new awards Senior executives who are invited to co-invest have earned an annual bonus and achieved the requisite performance targets set for them. These eligible executives can elect to invest all or part of their net bonus in Lewis Group shares (from 10% up to a maximum percentage set by the Remuneration Committee (“the Committee”) for each executive, which cannot exceed 100%). These invested shares (i.e. shares acquired using the executive’s net bonus) are held on behalf of executives for a period of three years and matching shares equal to the before tax bonus, are awarded for no consideration at the end of the period. The invested shares are purchased by the employee share trust on the open market on behalf of executives. The matching share award will lapse should the executive terminate his or her employment before the completion of the three-year period, other than in the event of death, ill-health, retirement or retrenchment. The following executives elected on 6 July 2022 to invest a percentage of their net bonus in the Company’s shares and, consequently, matching share awards were awarded to them under the Lewis 2019 Executive Retention Scheme: Invested Matching Total Executive Designation Shares Share Award Value J. Enslin Executive Director, 79 495 144 536 R10 904 292 Lewis Group Ltd J. Bestbier Executive Director, 48 658 88 469 R 6 674 390 Lewis Group Ltd W. Achmat Director, Lewis Stores 38 137 69 340 R 5 231 251 (Pty) Ltd D. Loudon Director, 19 441 35 347 R 2 666 693 Lewis Stores (Pty) Ltd D.M. Oliphant Director, 37 749 68 635 R 5 178 035 Lewis Stores (Pty) Ltd The invested shares were allocated to the executives at a price of R48.67, being determined as an average of the last five trading day’s weighted average purchase price before the award date. The matching share awards will be received by the scheme participants for no consideration. 5. Short Term Awards In terms of the Lewis 2019 Executive Performance Scheme and the Lewis 2021 Executive Performance Scheme, executives have been offered the right to acquire shares of the Company for no consideration, subject to the achievement of performance targets. The share awards under this scheme will lapse should the executive terminate his or her employment before the completion of the period of the award, other than in the event of death, ill-health, retirement or retrenchment. The Committee agreed to grant the executives a three-year award (short term award as defined in the scheme rules) under this scheme, details of which are set out below. The performance targets are set by the Committee at the beginning of each of the three years and are based on a weighting set for each executive, depending on their daily employment responsibilities, as follows: - Headline earnings per share; - Quality of the debtors book; - Gross margin. The following executive directors have been granted short term awards on 6 July 2022 under the Lewis 2019 Executive Performance Scheme and the Lewis 2021 Executive Performance Schemes: Maximum No. of Implied Executive Designation Shares for no Value consideration J. Enslin Executive Director, 226 518 R 11 047 283 Lewis Group Limited J. Bestbier Executive Director, 98 898 R 4 823 255 Lewis Group Ltd W. Achmat Director, 52 498 R 2 560 327 Lewis Stores (Pty) Ltd D. Loudon Director, 53 783 R 2 622 997 Lewis Stores (Pty) Ltd D.M. Oliphant Director, 52 543 R 2 562 522 Lewis Stores (Pty) Ltd The above values are implied values based on a market price of R48.77, determined as an average of the last three trading day’s closing price before the award date, calculated in terms of the rules of the scheme. 6. Long term Awards In terms of the Lewis 2021 Executive Performance Scheme, executives have been offered the right to acquire shares of the Company for no consideration subject to the achievement of performance targets. The share awards under this scheme will lapse should the executive terminate his or her employment before the completion of the period of the award, other than in the event of death, ill-health, retirement or retrenchment. The Committee agreed to grant the executives a five-year award (long term award as defined in the scheme rules) under this scheme, details which are set out below. As required by the scheme rules, the performance target for long term awards are set at the grant date for the whole period of the award. The five-year award has three vesting dates being: the third anniversary of the grant (6 July 2025), the fourth anniversary (6 July 2026) and the fifth anniversary (6 July 2027). One third of the award shall vest at each vesting date, subject to the performance targets below. The performance targets are based on weightings of the following: - Return on average shareholder’s equity (“ROE”), weighted at 50%; - Headline Earnings per share (“HEPS”), weighted at 30%; and - Gearing Ratio, weighted at 20%. The performance targets at each vesting date are as follows: Measure Third anniversary Fourth Fifth anniversary anniversary ROE 13.6% 14.2% 15.0% HEPS (cents) 1240 1425 1654 Gearing ratio 50% 50% 50% The following executive directors have been granted long-term awards on 6 July 2022 under the Lewis 2021 Executive Performance Scheme: Maximum Number of Implied Executive Designation Shares (for no Value consideration) J Enslin Executive Director, 226 518 R 11 047 283 Lewis Group Ltd J. Bestbier Executive Director, 79 119 R 3 858 634 Lewis Group Ltd W. Achmat Director, Lewis Stores (Pty) 52 498 R 2 560 327 Ltd D. Loudon Director, Lewis Stores (Pty) 53 783 R 2 622 997 Ltd D.M. Oliphant Director, Lewis Stores 52 543 R 2 562 522 (Pty) Ltd The above values are implied values based on a market price of R48.77, determined as an average of the last three trading day’s closing price before the award date, calculated in terms of the rules of the scheme. All the transactions as set out in paragraphs 1 to 6 above were for the direct benefit of the directors. The requisite clearances have been obtained. Cape Town 6 July 2022 Sponsor: The Standard Bank of South Africa Limited Debt Sponsor: Absa Bank Limited, acting through its Corporate and Investment Banking Division