THE PIVOTAL FUND LIMITED - Changes to the board of directors

Changes to the board of directors

THE PIVOTAL FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/030215/06)
JSE share code: PVT  ISIN: ZAE000196440
(“the company”)


CHANGES TO THE BOARD OF DIRECTORS

Shareholders are advised that, effective 20 May 2016, Dave Savage has stepped down as an executive
director of the company but will remain on the board as a non-executive director.

Shareholders are further advised that, effective 20 May 2016, Tom Wixley has stepped down as chairman of
the board but will remain on the board as an independent non-executive director. Sakumzi Macozoma (Saki)
has been appointed as an independent non-executive director and chairman of the board.

Saki Macozoma is one of the most prominent business figures in South Africa. He is chairman of mining
and exploration companies, Tshipi é Ntle Manganese Mining and Ntsimbintle Mining and a board member
of Volkswagen SA. In addition to his business interests, Mr. Macozoma is recognised for this work in civil
society. In 2012, the University of South Africa (UNISA) gave him a Calabash award, the university’s
highest honour, for his fight against State oppression during the apartheid regime.

24 May 2016


Sponsor
Java Capital

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