Changes to the board TORRE INDUSTRIES LIMITED Incorporated in the Republic of South Africa (Registration number: 2012/144604/06) Share code: TOR ISIN: ZAE000188629 (“Torre” or “the Group”) CHANGES TO THE BOARD In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised of the following changes to the Torre Board: The Board is pleased to announce that Mr Jon Hillary has been appointed as full-time Executive Deputy Chairman of Torre with effect from 1 July 2017 to work with the existing executive team to build the Group, with a specific focus on strategic growth initiatives. Jon (BCompt Hons, CA(SA), AMP Harvard) has been a group executive committee (exco) member and head of the Investments & Concessions cluster of Group Five since 2004. Jon possesses a broad range of skills and has significant local and international experience in various leadership and management roles. Mr Charles Pettit will step down as Executive Deputy Chairman on 30 June 2017 but will remain on the Board as a non-executive director and will continue to provide advisory services to the Group. The Board welcomes Jon and looks forward to the impact that he will have on the next phase of the Group’s development. Johannesburg 4 May 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 04/05/2017 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.