SABVEST LIMITED - Changes to the composition of the Board and Committees

Changes to the composition of the Board and Committees

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
ISIN: ZAE000006417 SBV Ordinary shares
ISIN: ZAE000012043 SVN N Ordinary shares
(“Sabvest”)

Changes to the composition of the Board and Committees

Philip Coutts-Trotter has advised the board that he will retire as non-executive Chairman and
as a member of the Nominations and Remuneration committees at the AGM on 15 May 2017
but will continue as a non-executive director.

Philip is also executive Chairman of Sabvest’s largest investee company, S A Bias Industries
(Pty) Limited. Philip will be relinquishing his executive responsibilities at S A Bias but will
continue as its non-executive Chairman.

We are appreciative of all the years of support, service and intellectual rigour that Philip has
brought to the board and although he will be changing roles, we are delighted that he will
continue to be on the board.

Arising from this change, the board advises shareholders of the following appointments and
the reorganization of its committees, effective 15 May 2017:

1.   Dawn Mokhobo, currently Deputy Chairman of Sabvest, will be appointed as independent
     non-executive Chairman.

2.   Bheki Shongwe, currently a non-executive director of Sabvest, will be appointed
     independent non-executive deputy Chairman.

3.   The Remuneration Committee will be reconstituted as follows:

     Nigel Hughes (Chairman) – independent NED
     Carl Coutts-Trotter (Member) – NED
     Dawn Mokhobo (Member) – independent NED

4.   The Nominations Committee will be reconstituted as follows:

     Dawn Mokhobo (Chairman) – independent NED
     Carl Coutts-Trotter (Member) – NED
     Nigel Hughes (Member) – independent NED

5.   There will be no changes to the composition of the Audit Committee or of the Social &
     Ethics Committee.

The Sabvest board will accordingly continue to comprise seven directors of whom five are
non-executive and of whom three are independent. The board and all of the committees are
correctly constituted as required by the Companies Act, the JSE and King IV, as applicable.

Sandton
19 January 2017


Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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