INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - Change to Auditor - IN02

Change to Auditor - IN02

Industrial Development Corporation of South Africa Limited
(Incorporated in the Republic of South Africa)
Registration No. 1940/014201/06
Bond Issuer Code: IN02
(“IDC”)

NOTIFICATION OF CHANGE IN AUDITOR

Pursuant to the open tender procurement process to appoint external auditors and in compliance with the
provisions of paragraphs 6.25 to 6.29 of the Debt Listings Requirements of the JSE Limited, noteholders
are advised that the IDC appointed Deloitte and Touche (“Deloitte”) and Nexia SAB&T (“Nexia”) as joint
external auditors for the financial year ending 31 March 2023, effective 15 February 2023.

Deloitte is appointed lead auditor performing 60% of the audit and taking responsibility for the audit in line
with their Joint Audits policy and auditing standards and Nexia performing 40% of the audit. This follows
the Mandatory Audit Firm Rotation for auditors of all public interest entities. As such the contract between
the IDC and SizweNtsalubaGobodo Grant Thornton Inc. has ended as from the effective date.


17 February 2023

Debt Sponsor
Absa Corporate and Investment Bank (a division of Absa Bank Limited)

Date: 17-02-2023 01:49:00
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