Changes to the board of directors RBA HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1999/009701/06) (Share Code: RBA ISIN Code: ZAE000199642) (“RBA” or “the company”) CHANGE TO THE BOARD OF DIRECTORS In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the Board of Directors of RBA (the “Board”) is pleased to announce the appointment of Christine Glover and Martin Nienaber to the board as non-executive directors as well as Rob Baker who is appointed as an alternative director to Christine Glover. Christine has been nominated by HIFSA (Housing Impact Fund of South Africa) to the Board. She is the head of the Development Impact Funds of Old Mutual who she joined in July 2006. Christine was previously the Managing Director of CashBank and its predecessor the Group Credit Company. Martin has been nominated to the Board by Protea Asset Management LLC, Conduit Capital Limited and Midbrook Lane (Pty) Ltd, being shareholders of RBA. He is a Chartered Accountant (SA) and the Chief Financial Officer of Midbrook Lane (Pty) Ltd and consultant for Protea Asset Management LLC. Prior to joining Midbrook Lane (Pty) Ltd Martin worked for Canadian-listed Forbes & Manhattan Coal Corporation. Rob Baker is an investment actuary with more than 20 years experience in the South African financial industry. In 2007 he joined Old Mutual, where he was an investment advisor. He has continued to provide an investment consulting service to Old Mutual’s investment arm since leaving in March 2011. The Board welcomes the new directors to the team and look forward to the value that they will add to the company. 10 December 2015 Braamfontein Designated Adviser Exchange Sponsors Date: 10/12/2015 05:09:00 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.