ADCORP HOLDINGS LIMITED - Change to the board of directors

Change to the board of directors

Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR & ISIN: ZAE000000139
(“the Company” or “the Group”)

CHANGE TO THE BOARD OF DIRECTORS

In compliance with the JSE Limited Listings Requirements, shareholders are advised that with
effect 30 April 2017, the Group Chief Financial Officer (Group CFO), Mr Anthony Sher (Mr Sher)
will leave the Company and resign as a director of the Company to pursue personal interests.

Mr Sher has kindly agreed to stay on for six months with the Group in order to ensure a smooth
and orderly handover to a suitable successor.

The Company shall commence a process of appointing a replacement candidate for the role of
Group CFO and an announcement in this regard shall be communicated in due course.

The board of directors extends their appreciation to Mr Sher for his contribution during his tenure
as Group CFO and as a director of the Company and wishes him well in his future endeavours.

Bryanston
31 October 2016


Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

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