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2020/07/30, 16:07:00
Johannesburg Stock Exchange - SENS NEWS DELAYED
Shareholder Engagement Session Regarding Massmart's Remuneration Implementation Report

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


SHAREHOLDER ENGAGEMENT SESSION  REGARDING MASSMART’S REMUNERATION IMPLEMENTATION REPORT

With reference to the results of the Company’s Annual General Meeting announced on 21 May 2020, Massmart
wishes to engage its shareholders on the non-binding advisory resolution regarding the endorsement of
Massmart’s Remuneration Implementation Report.

The Remuneration Implementation Report fell 0.3% short of the 75% of votes required by the King IV Report
(“King IV”) on Corporate Governance for South Africa, 2016 and paragraph 3.84(k) of the Johannesburg Stock
Exchange Limited Listings Requirements (“JSE LR”). It should be noted, however, that the non-binding advisory
resolution on the endorsement of Massmart’s Remuneration Policy was approved by more than the requisite 75%
majority of shareholder votes as previously announced on 21 May 2020.

In the context of the Remuneration Implementation Report vote, the Chairman of Massmart’s Remuneration
Committee, Ms. Phumzile Langeni, and the Chairman of the Board, Mr. Kuseni Dlamini therefore wish to engage
those shareholders who cast dissenting votes as well as other interested shareholders.

Interested shareholders are invited to attend a virtual engagement session with the Chairman of the Remuneration
Committee and the Chairman of the Board. Should you wish to raise any concerns or have any further
recommendations for the Remuneration Committee regarding its Remuneration Policy and practices, please
submit your feedback in writing to info@massmart.co.za by no later than 17H00 on 5 August 2020.

DETAILS OF THE SHAREHOLDER ENGAGEMENT SESSION

The session will be convened electronically via a Zoom video facility on Thursday, 6 August 2020 from
13H30 – 14H30.

Please register to attend the session first by emailing info@massmart.co.za thereafter, you will be emailed a
meeting request for the session to be convened via Zoom.

Once you register you will receive a passcode to attend the session on the date above. Please do not share the
passcode. You are liable for your own costs to connect to the session. Massmart will not be accountable in the
case of loss of network connectivity or other network failure due to insufficient airtime, internet connectivity,
internet bandwidth and/or power outages which prevents any shareholder from participating or attending the
aforementioned session.



30 July 2020


Sponsor
JP Morgan Equities South Africa (Pty) Ltd

Date: 30-07-2020 04:07:00
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