Investor Presentaiton

Strong expense control Expenses flat on LY (Comp up 1.4%) and 1.5% lower than 2019 5.5% decrease • Depreciation and amortisation Closure of net 15 stores Lower asset base as a consequence of previous asset impairments recognised Includes IFRS 16 Continuing operations 0.6% increase Employment Costs Vacancy freeze and restructuring savings TERS benefit of R61m 0.4% decrease • Occupancy Costs Benefits of sustainability initiatives Rentals renegotiated in 2021 (2020: R189m) . Rental relief of R1m (2020: R102m) • • 3.5% increase Other Operating Costs Civil unrest related costs Remodeling expenses • Increased repairs and maintenance Excluding impact of civil unrest: 2.4% increase Massmart powered by Walmart 11

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