New Board Appointment Capital Appreciation Limited Incorporated in the Republic of South Africa (Registration number 2014/253277/06) Share code: CTA ISIN: ZAE000208245 (“CAPPREC") NEW BOARD APPOINTMENT In compliance with the Listings Requirements of the JSE Limited, shareholders are advised of the appointment of Professor Hanoch Neishlos as a Non-executive Director of CAPPREC with effect from 13 November 2017. Professor Neishlos is the Founder of African Resonance and will continue to lead the “payments” related activities of CAPPREC and guide its local and international strategic direction. Hanoch has a wealth of experience in the payment and technology sector, holding the title of Professor of Computer Science (Dr. Sc). Hanoch is the former ISM Chair and Head of Computer Science at the University of Witwatersrand, also a former South African representative to the International Federation for Information Processing (IFIP). Hanoch was the founder of SEPCO (Pty) Ltd, (sold to Datakor) and co-Founder of Aplitec/Net 1 (listed on the JSE and NASDAQ). Having been an integral member of the acquisition team that acquired Cash Paymaster Services (CPS) from FNB, Hanoch is well versed in the latest technologies and cutting edge applications and procedures for the payment, distribution and cash settlement of social grants and welfare payments. CAPPREC warmly welcomes Professor Neishlos to the Board and looks forward to his valuable contribution in the years ahead. Sandhurst 13 November 2017 Sponsor: Investec Bank Limited Date: 13/11/2017 10:19:00 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.