ELB GROUP LIMITED - Change to the Board of Directors

Change to the Board of Directors

ELB GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 1930/002553/06)
ISIN: ZAE000035101
JSE Code: ELR
(“ELB” or “the Company”)

CHANGE TO THE BOARD OF DIRECTORS

In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are
advised that Ms Buyisiwe Makhunga and Ms Refilwe Nkabinde have been appointed to the board of
directors of ELB (“Board”) as independent non-executive directors with immediate effect.

–   Ms Buyisiwe Makhunga is a qualified Chartered Accountant (SA) and is a co-founder and
    executive director of Heritage Capital, a 100% black women owned private equity fund manager.
    She has eleven years investment banking experience working in the Investec Corporate Finance
    division in South Africa, where she gained specialist knowledge in Mergers & Acquisitions and
    Broad-Based Black Economic Empowerment transactions in a variety of sectors. Buyisiwe is an
    Archbishop Desmond Tutu Fellow and received the ABSIP Corporate Financier of the year
    award in 2013.

-   Ms Refilwe Nkabinde is a qualified Chartered Accountant (SA) and is currently the Chief
    Financial Officer for the Business Connexion Group (BCX), a wholly owned subsidiary of Telkom
    SOC, and serves as a non-executive director for other entities within the Business Connexion
    Group. She also serves as a non-executive trustee of the Diageo SA Empowerment trust. She
    was previously employed by Brandhouse Beverages Proprietary Limited, as the Finance and
    Strategy Director. Refilwe received the Business Connexion Aspire award for 2012 and was a
    top 5 finalist for the 2017 Standard Bank Rising Star Award, for the Information and
    Communications Technology sector.

Buyisiwe has been appointed as a member of the Audit and Risk Committee and Refilwe as a
member of the Social and Ethics Committee.

The Board welcomes Buyisiwe and Refilwe and looks forward to their contributions to the Company.


Johannesburg
24 November 2017

Sponsor
Questco Corporate Advisory Proprietary Limited

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