2020/03/19, 07:05:00
Johannesburg Stock Exchange - SENS NEWS DELAYED
Update on Section 189 and 189A Consultation process

Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Company registration No. 1940/014066/06
ISIN: ZAE 000152617
("Massmart" or the "Company" or “the Massmart Group”)


Pursuant to the announcement published on 13 January 2020, whereby Massmart indicated that it would
commence a consultation process in terms of Section 189 and 189A of the Labour Relations Act 66 of 1995
(“the consultation process”) regarding the potential closure of 23 Dion Wired and 11 Masscash Stores
(“34 non-performing stores”), the Board wishes to advise on the following:

Since 13 January 2020, management have consulted extensively with the affected employees; organised labour
and other relevant stakeholders under the guidance of the Commission for Conciliation, Mediation and
Arbitration and all options/alternatives in respect of the potential closure of the affected stores have been
exhausted. Accordingly, the Board have now taken a decision to close all of the non-performing stores.

In light of the aforementioned decision, management will cease trading of the affected 23 Dion Wired Stores on
19 March 2020. A decision to cease trade in relation to the 11 affected non-performing Masscash stores has yet
to be determined by management.

Subsequent to the above, Management shall continue the consultation process with all affected employees;
organised labour and other relevant stakeholders in order to mitigate the amount of job losses, as a result of the
closure decision, through deployment of affected employees to vacant roles with the Massmart Group where
practical and reasonable.

19 March 2020

JP Morgan Equities South Africa (Pty) Ltd

Date: 19-03-2020 07:05:00
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