Changes to the board: important functions of directors Metair Investments Limited (Incorporated in the Republic of South Africa) (Registration number 1948/031013/06) Share code: MTA ISIN: ZAE000090692 (“Metair”) CHANGES TO THE BOARD: IMPORTANT FUNCTIONS OF DIRECTORS In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited, Metair shareholders are hereby advised of the following changes to the functions of the directors of the Metair board (the “Board”). 1. Independent Directors As a result of Royal Bafokeng Holdings scaling back their interest in Metair, the Board believes that Mr Mpueleng Pooe and Mr David Wilson are now considered independent. Mr Mpueleng Pooe has been appointed as an independent non-executive Chairman of the Board with effect from 10 December 2014. 2. Audit and Risk Committee Mr David Wilson has been appointed as a member of the Metair Board Audit and Risk Committee with immediate effect. 3. Social and Ethics Committee Messrs Sjoerd Douwenga and Ken Lello have been appointed as members of the Social and Ethics Committee and Ralph Broadley has been appointed as acting Chairman of the Social and Ethics Committee. These appointments are with immediate effect. Johannesburg 12 December 2014 Sponsor One Capital Date: 12/12/2014 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.