Pepkor Holdings Ltd. · JSE:PPH
Pepkor — Investor Day (2026)
29 slides from Pepkor's investor day presentation, 2026
Slide 1: Ackermans
ACKERMANS
Slide 2: Ackermans at a glance
ACKE RM ANS Ackermans at a glance Since CMD 2024 Headwinds Growth drivers 2
Slide 3: Market Positioning
ACKE RM ANS Market Positioning Premium Value Retailers Price Leadership 3
Slide 4: Ackermans at a glance: market share and key facts
ACKE RM ANS Market share Baby 35.6% Kids 27.3% Countries Schoolwear 22.1% Footwear 14.4% Women 6.1% Lingerie 13.1% Sales FY25 CFE R18.6bn 14 000 Local CFE (76%) | Cell (24%) Import Split Employees 4 958 90 Ebit FY25 R2.5bn | 13.3% 50/50
Slide 5: Enabler of Group Finserve Business
ACKE RM ANS Enabler of Group Finserve Business 542K A+ opened* 915K contracts* 43% of Group 45% of Group A+ ** Customers** 58% of Book 5.4M 2.2M A+ Customers** Insurance** 55% of Group 480K 5 *FY25 | **As at February 2026
Slide 6: CMD 2024 - Done
ACKE RM ANS CMD 2024 - Done 6
Slide 7: Profit recovery
ACKE RM ANS CMD 2024 - Done Profit recovery EBIT % 13.3% 12.9% 10.9% FY23 FY24 FY25 7
Slide 8: Marketing step-change
ACKE RM ANS CMD 2024 - Done Profit recovery Marketing Marketing step -change Redefined customer Clearer distinct brand identity Multi -channel campaigns digitally led Elevated in -store marketing 8
Slide 9: Online 2.0
ACKE RM ANS CMD 2024 - Done Profit recovery Marketing Online 2.0 Re -platformed Online Launched Home Delivery Added Click & Collect Express +93% growth FYTD No. 1 store Profitable Delivery Home 37% | C&C Express 22% | C&C 41% 9
Slide 10: Connect stores roll-out
ACKE RM ANS CMD 2024 - Done Profit recovery Marketing Recommenced roll -out Online Connect stores 90 59 FEB 2024 FEB 2026 10
Slide 11: Cellular market share
ACKE RM ANS CMD 2024 - Done Profit recovery Market share % Marketing Online Connect stores 20.6 % 17.5 % Cellular 2023 2025 11
Slide 12: Closed standalone formats
ACKE RM ANS CMD 2024 - Done Profit recovery Marketing Online 26 closed Connect stores 32 Ayana Cellular Standalone Woman 12
Slide 13: New Cape Town DC
ACKE RM ANS CMD 2024 - Done Profit recovery Marketing New Cape Town DC Online Opened September 24 Connect stores On -time and under budget Cellular Hit annual productivity targets in month one Standalone Woman Productivity 24.6% up on old DC Network capacity 2034 New DC 13
Slide 14: CMD 2024 - WIP
ACKE RM ANS CMD 2024 - WIP 14
Slide 15: Product progress and lessons learned
ACKE RM ANS CMD 2024 - WIP Product Progress made Improvement Improved fabrics Innovated Schoolwear Fashion uplift in Womenswear Newborn handwriting Lessons learned CUBE (Youth brand) Toddler More improvement needed Market hasn’t stood still Incl. Group competitors on A+ CFE sales growth muted 15
Slide 16: Product improvement and market share
ACKE RM ANS CMD 2024 - WIP Product Improvement Market share Market share 12 MM : Jan 26 vs Jan 24 Marginal gains in Baby, Kids, Women (excl. WOSAS) and Footwear 16
Slide 17: Headwinds
ACKE RM ANS Headwinds 17
Slide 18: Lay-by a declining tender
ACKE RM ANS Headwinds Lay -by a declining tender Lay -By -7.7% in FY25 Contribution 14.7% to 12.7% Lay -by important in Early season Kids and Baby Drivers of lay -by decline Wait for markdowns and promos Buy less items Alternative payment tools 18
Slide 19: Deflationary pressures
ACKE RM ANS Headwinds Deflationary pressures INFLOW INFLATION Sustained ZAR/USD strength 3.8% Lay -By Shipping rates down Raw materials down Low China factory gate pressure Inflation/ -0.2% before Deflation 19.80 ZAR/USD 0.2% 2.0% intervention S25 W26 S26 Inflow margin steady across seasons 17.11 3
Slide 20: Growth drivers
ACKE RM ANS Growth drivers 20
Slide 21: Space growth
ACKE RM ANS Growth drivers Space growth Ackermans Enlargements 20 20 20 20 30 25 25 20 FY26 FY27 FY28 FY29 21
Slide 22: CFE 2.0: Focus on core
ACKE RM ANS Growth drivers Space growth CFE 2.0 Focus on Core Targeting market share gains in Baby, Kids, Women and Footwear Restructured Merch teams, new leadership, ways of working Disciplined Range science Fabric elevation Supplier strategy 22
Slide 23: Beauty stores
ACKE RM ANS Growth drivers Space growth CFE 2.0 Beauty 400 stores in Dec 25 Growth Categories Branded and Private Label Beauty, Skincare, Fragrance, Colour Men Modern and relevant 80 stores in Winter 25 250 stores by Summer 26 23
Slide 24: More to sell per m2
ACKE RM ANS Growth drivers Space growth CFE 2.0 More to sell per m2 Growth categories Home Densify Accessories Toys Stationery 24
Slide 25: Growth categories: sign up, drive, leverage
ACKE RM ANS Growth drivers Space growth CFE 2.0 Sign up Growth categories Drive Densify Leverage Commercial Sell Enable 25
Slide 26: Profitable format: targeting 350 stores
ACKE RM ANS Growth drivers Space growth CFE 2.0 Profitable format Growth categories Targeting 350 stores Densify 212 Commercial 174 Connect 141 113 store rollout 86 FY25 FY26 FY27 FY28 FY29 26
Slide 27: Growing online
ACKE RM ANS Growth drivers Space growth CFE 2.0 Growing online Growth categories CX enhancements Densify Adding cellular Commercial Adding Finserve capabilities Connect store rollout Online 27
Slide 28: Opening May '26
ACKE RM ANS OPENING MAY ’26 28 Opening May ’26
Slide 29: Thank you
ACKE RM ANS THANK YOU 29