Placing of 98 million shares in J Sainsbury plc

LAUNCH PRESS RELEASE

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SINGAPORE, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, AUSTRALIA, CANADA, SINGAPORE, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

Proposed secondary placing of up to 98 million shares in J Sainsbury plc ("Sainsbury's" or the "Company")

2 December 2025

Qatar Holding LLC ("QIA") announce their intention to sell up to 83.6 million ordinary shares of 284/7 pence each ("Shares") in the capital of the Company (the "Sale Shares") through a placing to institutional investors (the "QIA Placing").

As an additional portion of the transaction, QIA entered into a derivative transaction on Sainsbury's shares with J.P. Morgan (the "Derivative Transaction"). In order to hedge the Derivative Transaction, J.P. Morgan are selling as principal approximately 14.0 million additional Shares (the "Delta Shares" and, together with the Sale Shares, the "Placing Shares") through a concurrent placing to institutional investors (the Delta Placing and together with the QIA Placing, the "Placing"). QIA will not receive any proceeds from the Delta Placing. In aggregate, the proposed number of Placing Shares to be sold pursuant to the Placing is up to approximately 97.5 million

Sainsbury's is not party to the Placing and will not receive any proceeds from the Placing.

QIA currently holds approximately a 10.5% interest in the Company.

Following successful completion of the Placing, the remaining Shares owned by QIA will be subject to a 90 day lock-up, subject to customary exceptions and waiver by the Sole Global Coordinator (as defined below).

The price per Placing Share and the final number of Placing Shares to be placed will be determined by way of an accelerated bookbuilding process to institutional investors. The bookbuilding period will commence immediately following this announcement, and may close at any time on short notice. The results of the Placing will be announced as soon as practicable thereafter.

J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove) ("J.P. Morgan Cazenove") is acting as Sole Global Coordinator and Sole Bookrunner in connection with the QIA Placing.

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This communication is for information purposes only and does not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada, Singapore, Japan or South Africa or any other jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States or elsewhere.

This communication does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries. It may be unlawful to distribute this communication in certain jurisdictions and recipients should inform themselves of applicable restrictions. Neither this communication nor the fact of its distribution should be relied on in connection with any contract or investment decision. Neither J.P. Morgan nor any member of its group nor any of their respective representatives, directors, officers, employees or agents accept any liability whatsoever in connection with this communication or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.

This communication is directed only at (a) "qualified investors" in the European Economic Area within the meaning of Regulation (EU) 2017/1129 and (b) persons in the United Kingdom who are qualified investors as defined under Article 2(e) of the UK Prospectus Regulation and who are (i) investment professionals falling with Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) other persons to whom an offer of the securities may otherwise be lawfully communicated (all such persons together being referred to as "relevant persons"). Persons who are not relevant persons should not take any action on the basis of this communication and should not act or rely on it. The expression "UK Prospectus Regulation" means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

You should not reply by e-mail to this communication, and you may not purchase any securities by doing so. Any reply e-mail communications, including those you generate by using the "Reply" function on your e-mail software, will be ignored or rejected.

J.P. Morgan is acting for the Selling Shareholder and not you and is not responsible for providing client protections to you or advising you on the offering, the contents of this communication or any transaction, arrangement or other matter referred to in this communication.

In connection with the offering, J.P. Morgan or any of its respective affiliates may take up a portion of the securities as a principal position and in that capacity may retain, purchase, sell or offer to sell for its own account such securities and other instruments of J Sainsbury plc or related investments in connection with the offering or otherwise. Accordingly, references to the securities being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by J.P. Morgan and any of its respective affiliates acting as investors for their own accounts. J.P. Morgan does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.