PUTPROP LIMITED - Changes to the Board and Board Committees

Changes to the Board and Board Committees

PUTPROP LIMITED
Incorporated in the Republic of South Africa
(Registration number 1988/001085/06)
Share code: PPR  ISIN: ZAE000072310
("Putprop" or "the Company")


CHANGES TO THE BOARD AND BOARD COMMITTEES


In compliance with paragraph 6.71 of the JSE Limited ("JSE") Listings Requirements, the board of directors
of Putprop ("Board") hereby notifies its shareholders that with effect from 6 May 2026:

•   Mr Hayden Hartley, and Independent Non-Executive Director, has resigned as the Chairman of the Audit
    and Risk Committee but will remain a member of such committee.

•   Mr Khumbelo Nevhorwa has been appointed as an Independent Non-Executive Director to serve on the
    Board and as Chairman of the Audit and Risk Committee and a member of the Remuneration and
    Nomination Committee, and the Social and Ethics Committee, and the Investment Committee of the
    Company.

    Mr Nevhorwa is a CA(SA) and CFA charterholder, with early career experience in audit at Deloitte. He
    is a seasoned financial professional with over a decade of experience spanning investment analysis,
    valuation, auditing and strategic execution within the financial services sector. His expertise cuts across
    listed property, banking, insurance and asset management, with a particular depth in REIT analysis,
    capital structures and macroeconomic sensitivity.

    He currently serves in the Chief Operating Office at Standard Bank where he supports enterprise-wide
    strategy execution, performance tracking and executive-level decision-making. Prior to this, he held
    senior equity analyst roles, providing integrated sector insights, leading property valuation coverage and
    contributing to portfolio construction and credit risk assessment.

    Mr Nevhorwa combines strong technical capability in financial analysis and balance sheet assessment
    with strategic insight, governance awareness and stakeholder engagement at board level.

•   Mr Paolo Senatore has been appointed as a Non-Executive Director to serve on the Board, and as a
    member of the Audit and Risk Committee, the Remuneration and Nomination Committee, and the Social
    and Ethics Committee, and the Investment Committee of the Company.

    Mr Senatore is an experienced investment professional with long-standing leadership roles in South
    African asset management. He joined Melville Douglas in 2018 as Head of South African Equities and
    co-manages the Melville Douglas High Alpha Fund.

    Prior to this, he spent over two decades with the FirstRand Group, where he held a number of senior
    positions. He served as CIO of RMB Private Bank Portfolio Management, where he was responsible for
    building and scaling the institutional investment offering. He subsequently played a key role in
    establishing Ashburton Investments, FirstRand's asset management business, and was instrumental in
    consolidating the group's investment processes and capabilities.

    He holds an MSc in Mechanical Engineering.


The Board confirms that it has undertaken a fit and proper assessment of Messrs Nevhorwa and Senatore
and is satisfied with the outcome. Furthermore, it is confirmed that there are no positive statements to report
in respect of the integrity information contained in both director's declarations.

The Board congratulates Messrs Nevhorwa and Senatore on their appointments and looks forward to their
contributions to the Company.

Further to the above changes, the various Board Committees will be comprised as follows:

Audit and Risk Committee
Khumbelo Nevhorwa (Chairperson)
Janys Ann Finn
Hayden Hartley
Paolo Senatore

Remuneration and Nominations Committee
Hayden Hartley (Chairperson)
Janys Ann Finn
Khumbelo Nevhorwa
Paolo Senatore

Social and Ethics Committee
Janys Ann Finn
Khumbelo Nevhorwa
Paolo Senatore
Darryl Mayers
Alicia Nolte

Investment Committee
Hayden Hartley (Chairperson)
Darryl Mayers
Khumbelo Nevhorwa
Paolo Senatore
Alicia Nolte
Janys Ann Finn

The Chairperson of the Social and Ethics Committee will be appointed by the Board at its next meeting.
Shareholders will be notified of the outcome by way of a further announcement.

Johannesburg
6 May 2026

Sponsor
Merchantec Capital

Date: 06-05-2026 04:00:00
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.