BINPW - Notification of Changes to the Board of Directors 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 CHANGES TO THE BOARD OF DIRECTORS In accordance with paragraph 6.39 of the JSE Limited Debt Listings Requirements (the “Requirements”), noteholders are hereby advised of the following changes to the board of NamPower (the “Board”) with effect from 1 October 2020 due to the terms of the previous board coming to an end. The appointment of the following directors: Director Name Capacity Mr. Daniel Motinga Non- executive Chairperson Ms. Martha Mbombo Non-executive Deputy-Chairperson Mr. Laurence C. Kavendjii Non-executive Director Dr. Detlof von Oertzen Non-executive Director Ms. Silke Hornung Non-executive Director Mr. Evat Kandongo Non-executive Director Mr. Kahenge S. Haulofu Executive -Managing Director (collectively the “New Directors”), and the retirement of the following directors: Director Name Capacity Sara Katiti Non- executive Director Anna Matebele Non-executive Director Andrew Kanime Non-executive Director Kaunapaua Ndilula Non-executive Chairperson (collectively the “Retired Directors”). NamPower confirms that the appointments of the New Directors were made in accordance with the Issuer’s policy dealing with the nomination of directors and approved by the Minister of Public Enterprises. The members of the board committees will be discussed and confirmed on or about 22 October 2020. NamPower welcomes the New Directors and looks forward to their contributions to the company and wishes to thank the Retired Directors for their contribution over the years. 19 October 2020 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 19-10-2020 03:24:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.