NINETY ONE PLC - Notification of change of auditor

Notification of change of auditor

 Ninety One Limited                                 Ninety One plc
 Incorporated in the Republic of South Africa       Incorporated in England and Wales
 Registration number 2019/526481/06                 Registration number 12245293
 Date of registration: 18 October 2019              Date of registration: 4 October 2019
 JSE share code: NY1                                LSE share code: N91
 ISIN: ZAE000282356                                 JSE share code: N91
                                                    ISIN: GB00BJHPLV88




       Ninety One plc and Ninety One Limited (together the “Company” or “Ninety One”)
  Notification of change of auditor in terms of paragraph 3.78 of the JSE listing requirements

As part of the dual listed company structure, Ninety One plc and Ninety One Limited notify both the
London Stock Exchange and the JSE Limited of matters which are required to be disclosed under the
Disclosure Guidance, Transparency Rules and Listing Rules of the United Kingdom Listing Authority
(the “UKLA”) and/or the JSE Listing Requirements.

The Statutory Audit Services for Large Companies Market Investigation (Mandatory Use of Competitive
Tender Processes and Audit Committee Responsibilities) Order 2014 in the UK and the rules of the
Independent Regulatory Board of Auditors in South Africa prescribe that auditors of public interest
entities in each respective jurisdiction must comply with mandatory audit firm rotation.

In response to this, Ninety One has undertaken a competitive audit tender process overseen by the
Audit and Risk Committee, as first disclosed in the Integrated Annual Report 2020 published on 08 July
2020.

Following the conclusion of the tender process and the decision of the Board, Ninety One announces
the appointment of PwC as its External Auditor for the year ending 31 March 2023 subject to approval
by shareholders at the 2022 Annual General Meetings and relevant regulatory authority. Accordingly,
further announcements in this regard, will be made once the regulatory approval process has been
concluded.

A transition process will commence from 01 April 2021 whereby the appointed firm will observe the full
audit cycle performed by the incumbent. The formal appointment will be for the reporting period
commencing 01 April 2022 and will be in accordance with the requirements of s90 of the South African
Companies Act No. 71 of 2008.

KPMG LLP and KPMG Inc. (together “KPMG”), Ninety One's current External Auditor, will undertake
the audit for the year ending 31 March 2021, having been re-appointed at the 2020 Annual General
Meetings.

Victoria Cochrane, Chair of the Audit and Risk Committee, said: "We thank KPMG for their excellent
contribution as Ninety One's auditor for many years and we look forward to working with PwC in the
future”.


By order of the Board

Company Secretary
Paula Watts
Ninety One plc


Ninety One Africa (Pty) Ltd
Ninety One Limited


11 December 2020
JSE Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

Date: 11-12-2020 04:45:00
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