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MSM: MASSMART HOLDINGS LIMITED - Chief Executive Officer To Step Down

Date: 2019/05/06

MSM: MASSMART HOLDINGS LIMITED - Chief Executive Officer to step down
Chief Executive Officer to step down

Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share code: MSM
ISIN: ZAE000152617
("Massmart" or "the Company")

Chief Executive Officer to step down

The Board of Massmart announces that after almost 20 years in the business, the past five of which
have been as Chief Executive Officer, Guy Hayward has informed the Board of his decision to step
down from his role before the end of 2019.

The exact timing of Guy´s exit is still to be confirmed as he and the Board embark on the process of
ensuring a seamless transition. The process to appoint Guy´s successor is underway and the Board will
make further announcements in due course.

Guy has guided Massmart through exceedingly challenging market conditions and has worked to
position the business for future growth. Under his leadership we have seen the introduction of Value
Added Services, the development of a shared Group logistics service, and the implementation of
competitive online offerings in Makro, Game and Builders Warehouse.

Massmart has an experienced executive management team, who along with Guy´s successor will
continue to focus on the improvement of Massmart´s high-volume, low-expense business model that
saves our customers money so that they can live better.

Massmart Board Chairman, Kuseni Dlamini, said "We would like to convey our appreciation to Guy for
his contribution and dedication to Massmart over the years. He has been a valued contributor to many
of the Company´s defining milestones including: our listing on the JSE in 2000, the closure of the
Walmart transaction in 2010/11 and the multiple corporate acquisitions to grow and diversify the
Group. We wish him well in all his future endeavours".

Johannesburg
6 May 2019

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

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