Appointment of an independent non-executive director Pinnacle Holdings Limited (Previously Pinnacle Technology Holdings Limited) Registration number 1986/000334/06 Share Code: PNC ISIN: ZAE000184149 (“Pinnacle” or “Pinnacle Group” or “the Company”) APPOINTMENT OF AN INDEPENDENT NON- EXECUTIVE DIRECTOR Further to the announcement released on SENS on 24 June 2014 and in compliance with paragraph 3.59 of the Listings Requirements of the JSE limited, shareholders are hereby notified of the following changes to the board of directors of the Company which became effective on 29 August 2014. Ms Ndumi Medupe has been appointed as an independent non-executive director and chairperson of the Audit and Risk Committee. In compliance with principal 3.2 of King III Report on Corporate Governance, which requires that all members of the Audit Committee must be independent non- executive directors, Mr A Tugendhaft, who served as Chairman of the Committee has stepped down from the Committee, but will continue to attend Audit and Risk Committee meetings as a permanent invitee. A brief biography of Ms Ndumi Medupe (43) is as follows: Qualifications: B Acc (KZN University); Post Graduate Diploma in Accountancy (KZN University); and a CA (SA). Ms Medupe is a founder and director of Indyebo Consulting (Pty) Ltd. Her areas of expertise include Governance, Risk, Compliance, Audit and Financial Management. She is currently a member of the South African Institute of Chartered Accountants, the Institute of Directors and the Institute of Internal Auditors. Due to her extensive experience in practice and through her roles on various boards, Ms Medupe will significantly add to the overall management of governance, risk, compliance and audit in her new role. Subsequent to the aforementioned changes, the Audit and Risk Committee will comprise: Ndumi Medupe CA (SA) (Independent Non-executive director) - Chairperson, Mr E van der Merwe CA (SA) (Independent-Non-executive director) and Ms S Chaba (Independent Non-executive director). The Board welcomes Ms Medupe in her new role and looks forward to her contribution. Midrand 29 August 2014 Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd Date: 29/08/2014 05:30:00 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.