HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Change to the Board of Directors

Change to the Board of Directors

HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI & ISIN: ZAE000003257)
("HCI" or "the Company")

CHANGE TO THE BOARD OF DIRECTORS

In accordance with Section 3.59 of the JSE Limited Listings Requirements, HCI shareholders are
advised that the following change has been made to the composition of the HCI Board of
Directors:

Rob Nicolella's transition to Africa Energy

Mr. J.R. Nicolella ("Rob") has resigned, effective 29 May 2025, as the Financial Director of HCI
and an Executive Director of the HCI Board. Rob is not leaving the HCI group but Africa Energy
Corp (AEC) has developed to a point where it requires Rob's full-time attention as it's Chief
Executive Officer. Accordingly, through discussions with the AEC board, HCI has agreed to
release Rob from his role as Financial Director of HCI.

We extend our sincere thanks to Rob for his invaluable contributions during his tenure as Financial
Director. Notably, Rob also spearheaded the establishment and successful growth of our property
division, a testament to his vision and leadership.

Cisco Pereira promoted to Financial Director

We are delighted to announce the promotion of Mr. A.F. Pereira ("Cisco") to Financial Director of
the HCI group and Executive Director of the HCI Board effective 29 May 2025, succeeding Rob .

Cisco joined HCI in 2010 as group financial manager. He currently serves as Chief Executive
Officer of La Concorde Holdings and is a Non-Executive Director of HCI Resources Proprietary
Limited and Paarl-Vallei Botteleringsmaatskappy. He has also contributed significantly across
various executive committees and boards of HCI's subsidiary companies. Cisco holds a B.Acc
(Hons) from Stellenbosch University and qualified as a Chartered Accountant at PKF (Cpt) Inc,
having previously worked at PSG Asset Management.

Welcome Adhika Singh as Non-Executive Director

We are also pleased to welcome Ms Adhika Singh ("Adhika") to the board of HCI as a Non-
Executive Director effective 29 May 2025.

Adhika is a Chartered Accountant and Certified Internal Auditor with 26 years of extensive
experience in governance, risk, and compliance. She served her articles at KPMG, advancing
into leadership roles across the corporate and advisory areas. Adhika currently serves as Co-
Founder and Chief Operating Officer of GRiPP Advisory (Pty) Ltd, where she leads strategic
operations and drives the delivery of bespoke GRC solutions to clients across sectors. Adhika
also serves as a Non-Executive Director at the Institute of Internal Auditors, contributing to the
advancement of the internal audit and governance professions.

We wish Cisco, Adhika and Rob every success in their new positions within the HCI group.


Cape Town
30 May 2025

Sponsor: Investec Bank Limited

Date: 30-05-2025 12:17:00
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