Eskom Board commissions independent enquiry ESKOM HOLDINGS SOC LTD MEDIA STATEMENT 12 MARCH 2015 Eskom Board commissions independent enquiry Thursday, 12 March 2015: The Eskom Board has today resolved to commission an independent enquiry on the current status of the business and its challenges. The Board, in its quest to address the current challenges faced by Eskom, has deemed it prudent to seek an independent view on the status of, among other things: • The poor performance of generation plant • Delays in bringing the new generation plant on-stream • High costs of primary energy • Cash flow challenges “To ensure that this process is as transparent and uninhibited as possible, the Board has also resolved that four of its senior executives, including the Chief Executive Mr. Tshediso Matona, should step down for the duration of this enquiry,” said Eskom Chairman, Mr Zola Tsotsi, The other executives who have been asked to step down while the enquiry is underway are Ms Tsholofelo Molefe (Finance Director), Mr Dan Marokane (Group Capital) and Mr Matshela Koko (Commercial and Technology). One of the current non-executive Board members, Mr Zethembe Khoza, has been asked to assume the position of interim Chief Executive. Mr Khoza will be supported by Ms Nonkululeko Veleti (Finance), Mr Abram Masango (Group Capital) and Mr Edwin Mabelane (Commercial and Technology). “All these senior executives have been with the organisation a long time and we are confident that they will maintain business continuity during this period,” Mr Tsotsi said. The Board also resolved that the independent enquiry be conducted by external parties, who will be selected within the next week. They will be given unfettered rights of access to all information deemed necessary for this probe to be successful. The Board has emphasized that this process is a critical step towards ensuring that the situation facing Eskom improves as expeditiously as possible. “To that end, we would like to assure our customers and employees that this was done in the best interest of all our stakeholders, and we hope to come out of this with a better grasp of all the challenges facing the business, and most importantly, with solutions”, added Mr Tsotsi. Ends More on the interim appointees Ms Nonkululeko Veleti Ms Nonkululeko Veleti is a registered Chartered Accountant and has been with the organisation for almost 14 years working in the Finance Department. Abram Masango Mr Abram Masango, a qualified engineer, has been with Eskom for over 18 years and is currently Project Director at Kusile. He brings to the role many years of valuable experience, having occupied various senior positions within the organisation. Edwin Mabelane Mr Edwin Mabelane has been with the organisation for 21 years. He is a qualified engineer; has been a very senior executive before this appointment. He brings into the role many years of valuable experience. Date: 12/03/2015 04:03:00 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.