Changes to the board Insimbi Refractory and Alloy Supplies Limited (Incorporated in the Republic of South Africa) (Registration number: 2002/029821/06) Share code: ISB ISIN: ZAE000116828 (“Insimbi” or “the Company”) CHANGES TO THE BOARD In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are notified that the board of directors of Insimbi (“the Board”) is pleased to announce the appointment of Mr. Christiaan Coombs as an Executive Director and Mr. Robert Dickerson as a Non-Executive Director of the Board with effect from 16 January 2017 as part of the restructure of the Board following the AMR Group acquisition. Mr. Coombs has over 20 years of experience in the in the scrap metal trading industry with a focus on international commodity trading. He is a co-founder of the AMR Group which was established during 2002. He also serves on the board of the Metal Recyclers Association of South Africa. He has established a strong relationship with Insimbi as a business partner in the past and will be focused on growing the AMR business as part of the new Insimbi group. Mr. Dickerson holds a B:Com from Unisa and is a seasoned businessman with an impeccable track record. He is the founder of Dickerson Investments Proprietary Limited and is the former Chief Executive Officer and Group Chairman of the Fidelity Services Group. Previous to this he held numerous senior positions at the Chubb group of companies. He is currently a non executive director of the Fidelity Services Group as well as a non executive director of a number of non-listed companies. Furthermore, the Board is also pleased to announce the appointment of Mr. Brian Craig as an interim Chairperson with effect from 1 February 2017 following the resignation of the former Chairperson, Mrs. Lerato Okeyo. His term of office as interim chairperson will be determined after a thorough review of the operating structure of the business post the AMR Group acquisition, whereafter a permanent appointment will be made. Mr. Craig holds a Bachelor of Economics (cum laude), Honours (cum laude) from the University of the Western Cape (UWC), and a MSc (Finance) from the University of Illinois. He has accumulated over 25 years in the financial services industry as an investment banker and executive for Absa Capital and Deutsche Bank amongst others. Furthermore, Mr. Craig was the Non-Executive Chairman of the KZN Growth Fund Board of Trustees, a R 1 billion limited recourse debt fund, for 5 years. He also served as a Non-Executive Director of a major black owned and managed property and construction group, and chaired the Audit and Risk Committee and Investment Committee. Johannesburg 16 January 2017 Sponsor: Bridge Capital Advisors Proprietary Limited Date: 16/01/2017 10:00:00 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.