Sainsbury's Regulatory News (SBRY)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

J Sainsbury plc

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Pzena Investment Management, Inc.

City and country of registered office (if applicable)

New York, New York, United States of America

4. Full name of shareholder(s) (if different from 3.)v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reachedvi:

25 August 2020

6. Date on which issuer notified (DD/MM/YYYY):

1 September 2020

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

5.0289%

5.0289%

2,223,354,509

Position of previous notification (if

applicable)

N/A

N/A

N/A

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

GB00B019KW72

111,783,900

5.0277%

US4662492085 (ADR - one ADR is equivalent to four J Sainsbury plc Ordinary Shares)

26,128

0.0012%

SUBTOTAL 8. A

111,810,028

5.0289%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

SUBTOTAL 8. B 1

N/A

N/A

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

SUBTOTAL 8.B.2

N/A

N/A

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

X

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

SEE ATTACHMENT

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Individual ADRs carry as many voting rights as four Ordinary Shares of J Sainsbury plc. Therefore, the 6,532 shares of the ADR that Pzena votes, which is 0.0003%, is multiplied by a factor of four to reach a figure of 26,128 or 0.0012% effective voting rights.

Place of completion

New York, New York, United States of America

Date of completion

1 September 2020

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Pzena Investment Management, Inc

Pzena Investment Management, LLC

5.0289%

5.0289%

Pzena Investment Management, Inc

Pzena Investment Management, LLC

Pzena International Value All Country (Ex-US) CIT (A Reliance Trust Company Collective Investment Fund)

Pzena Investment Management, Inc

Pzena Investment Management, LLC

Pzena International (Ex US) Focused Value Fund (DST) (sub-fund of Pzena Value Trust)

Pzena Investment Management, Inc

Pzena Investment Management, LLC

Pzena Global Value Fund 2 (DST) (sub-fund of Pzena Value Trust)

Pzena Investment, Inc

Pzena Investment Management, LLC

Pzena Value Fund (DST) (sub-fund of Pzena Value Trust)

Pzena Investment Management, Inc

Pzena Investment Management, LLC

Pzena Global Best Ideas Fund, LP

Pzena Investment Management, Inc

Pzena Investment Management, LLC

Pzena Global Value Fund (sub-fund of Pzena Value Funds, Plc)

Pzena Investment Management, Inc

Pzena Investment Management, LLC

Pzena Global Expanded Value Fund (sub-fund of Pzena Value Funds, Plc)

Pzena Investment Management, Inc

Pzena Investment Management, LLC

Pzena Global Focused Value Fund