NAMPOWER (PTY) LIMITED - BINPW - Notification of a Change in Audit Firm

BINPW - Notification of a Change in Audit Firm

Namibia Power Corporation (Proprietary) Limited
(Incorporated in December 1964 with limited liability in the Republic of Namibia)
(Registration No. 2051)
Company code: BINPW
(“NamPower” or the “Issuer”)

NOTIFICATION OF A CHANGE IN AUDIT FIRM

Noteholders are advised that Deloitte & Touche (Namibia) (“Deloitte” or the “Auditor”) has resigned as the
auditor to NamPower with effect from 17 April 2020. The resignation follows from Deloitte’s internal
discussions about the size, nature and economic considerations of their Southern Africa client portfolio
which resulted in the Auditor resigning as the auditor to the Issuer for commercial reasons.

Noteholders are further advised that a decision has not yet been made on the appointment of a new auditor
and the Issuer is still in the process of finalizing same. Once the appointment has been duly accepted by
the proposed new auditors, a further announcement will be made.

22 April 2020

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 22-04-2020 11:20:00
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