DENEL SOC LIMITED - Denel board accepts resignation of group CEO - BIDEN

Denel board accepts resignation of group CEO - BIDEN

DENEL SOC LIMITED
Registration number: 1992/001337/30
JSE Alpha Code: BIDEN

DENEL BOARD ACCEPTS RESIGNATION OF GROUP CEO

Denel, the largest manufacturer of defence equipment in South Africa has announced the resignation
of its Group Chief Executive Officer, Mr Danie du Toit. Mr Du Toit will continue to render his services
until August 15, 2020.

Denel will appoint an interim Group CEO shortly and a further announcement will be released in due
course.

Denel remains an innovative defence, security and related technology solutions company, providing
solutions of defence, security and related technologies, to clients both domestic and international.

The turnaround plan is focusing on protecting promising business lines, disposing of non-core assets,
and seeking strategic partners to increase access to international markets, contribute skills and
funding to a profitable Denel.

The Board has taken far-reaching steps to stabilise the business and prepare the ground for Denel’s
long-term sustainability.

20 July 2020

Debt Sponsor
Nedbank Corporate and Investment Banking.

Date: 20-07-2020 04:15:00
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