Resignation of Group Chief Financial Officer and executive changes ALEXANDER FORBES GROUP HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number: 2006/025226/06) JSE Share Code: AFH ISIN: ZAE000191516 (“Alexander Forbes” or “the Company” or “the Group”) RESIGNATION OF GROUP CHIEF FINANCIAL OFFICER AND EXECUTIVE CHANGES In compliance with the JSE Limited Listings Requirements, Alexander Forbes announces the resignation of Group Chief Financial Officer Mr Deon Viljoen, with effect from 30 April 2017. Mr Viljoen leaves the Group after 14 years’ service, in order to pursue other opportunities. Mr Bruce Bydawell will assume the position of acting Group Chief Financial Officer. The Company also announces the retirement of Mr Peter Edwards, Managing Director of Institutional Financial Services, with effect from 31 March 2017. Mr Edwards has agreed to stay with the Group as a senior adviser post his retirement, so as to provide counsel as needed while the Company executes on its single institutional strategy. Extensive searches are underway to identify suitable candidates for the roles of Group Chief Financial Officer and MD of Institutional Clients and further announcements will be made in due course. Alexander Forbes is committed to appointing first class leaders commensurate with the standing of the Group. The Board thanks Mr Viljoen for 14 years of committed service to the Group. Mr Andrew A. Darfoor, the Group Chief Executive, advises that Mr Viljoen has decided to pursue a new role outside the Group. “The Alexander Forbes Board is most grateful to Deon for his contribution over the years. He leaves with my best wishes and that of the Board,” said Mr Darfoor. Mr Darfoor also thanks Mr Edwards for the contribution he has made to Alexander Forbes for the past 21 years. “Peter has been an integral member of the executive team for a number of years and we are delighted that he has agreed to stay on post his retirement as a senior advisor, to provide counsel as needed, as we execute on our single institutional strategy” said Darfoor. Mr Darfoor continued: "The strategy we announced in September 2016 is underpinned by the simplification of our operating model and a focus on delivering an integrated value proposition to our clients through 3 clear business lines – Institutional clients, Retail clients and Emerging Markets clients. This strategy will focus and help us accelerate our execution and delivery capability in building a Pan-African financial services leader. We are making strong and decisive progress with the full backing and support of our Board. In the interim, I will also act as Head of the Institutional clients division effective April 1.” 3 February 2017 Sandton Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/02/2017 11:00:00 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.