MULTICHOICE GROUP LIMITED - Changes to the board

Changes to the board

MULTICHOICE GROUP LIMITED
(incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
("MultiChoice"/"the Group")

CHANGES TO THE BOARD

Shareholders are advised that Mr SJZ Pacak, the lead independent director, will be stepping down as the
lead independent director of the Group, with effect from 3 April 2020, and will be retiring as an
independent non-executive director, with effect from after the board meeting to be held in April 2021.

Mr JA Mabuza, an independent non-executive director appointed to the board of MultiChoice in July 2019,
will take over from Mr Pacak as the lead independent director of the Group, with effect from 3 April 2020.

Shareholders are further advised that Mr DE Eriksson will retire as an independent non-executive director
of Multichoice, with effect from 11 June 2020.

The board of Multichoice expresses its gratitude to Messrs Eriksson and Pacak for their significant and
invaluable contributions to the Group over the years.

Randburg
3 April 2020

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

Important notice

Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of
incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including
MultiChoice shares deposited in terms of the American Depositary Share ("ADS") facility) so that the
aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to
South Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of the
total voting power in MultiChoice. This is to ensure compliance with certain statutory requirements
applicable to South Africa. For this purpose, MultiChoice will presume in particular that:
    •   all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or held by
        foreigners to South Africa, regardless of the actual nationality of the MultiChoice ADS holder; and
    •   all shareholders with an address outside of South Africa on the register of MultiChoice will be
        deemed to be foreigners to South Africa, irrespective of their actual nationality or domicilium,
        unless such shareholder can provide proof, to the satisfaction of the MultiChoice board, that it
        should not be deemed to be a foreigner to South Africa, as envisaged in article 40.1.3 of the
        MultiChoice memorandum of incorporation.
Shareholders are referred to the provisions of the MultiChoice memorandum of incorporation available
at www.multichoice.com for further details. If shareholders are in any doubt as to what action to take,
they should seek advice from their broker, attorney or other professional adviser.

Date: 03-04-2020 03:00:00
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