PPC LIMITED - Changes to the Board of Directors of PPC (Board)

Changes to the Board of Directors of PPC (“Board”)

PPC Ltd
(Incorporated in South Africa)
(Company registration number: 1892/000667/06)
JSE and ZSE Code: PPC
ISIN: ZAE000170049
(“PPC” or the “Company”)

CHANGES TO THE BOARD OF DIRECTORS OF PPC (“BOARD”)

PPC shareholders are referred to the announcement published on the Stock
Exchange News Service on 22 February 2018 regarding alignment of the Board
composition with its strategic priorities. In compliance with paragraph 3.59
of the Listings Requirements of the JSE Limited, the Board wishes to inform
shareholders of the following changes to the Board.

Resignations of Non-executive Directors of PPC

PPC shareholders are advised of the resignation of Mr Peter Nelson as the
Chairman of the Board and as a non-executive director of PPC, with effect
from 2 March 2018. Mr Nelson has successfully led the Company through a
period of headwinds and has achieved a number of significant milestones since
his appointment to the board in January 2015. Most notable is his role
during the refinancing of the business following its liquidity problems.

In addition, the Board hereby advises PPC shareholders that Mr Sydney Mhlarhi
and Mrs Dawn Earp have also resigned as non-executive directors of PPC, with
effect from 2 March 2018.

The Board would like to thank Mr Nelson, Mr Mhlarhi and Mrs Earp for their
valuable contribution to PPC and wishes them well on their future endeavours.

Appointments of Non-executive Directors to the Board

Furthermore, the Board is pleased to announce three new appointments to the
board, with immediate effect. The first appointment is that of Mr Jabu
Moleketi as the new Chairman of the Board and Chairman of the Nominations
committee.
•   Mr Moleketi is the Non-Executive Chairman of Brait as well as the
    Development Bank of Southern Africa (DBSA), Vodacom and Harith General
    Partners. He was the Deputy Minister of Finance (South Africa) from 2004
    to 2008 and MEC of Financial and Economic Affairs in the Gauteng Provincial
    Government (1994-2004). During his tenure as the Deputy Minister of
    Finance, he was the chairperson of the Public Investment Corporation. He
    is currently a non-executive director of several companies listed on the
    JSE. Mr Moleketi holds a Masters in Financial Economics from the
    University of London and an Advanced Management Programme from Harvard.

The board has also resolved to appoint Ms Noluvuyo Mkhondo to the Board as
non-executive director of PPC.
•   Ms Mkhondo is a seasoned investment banking and corporate finance
    professional, having spent time at Goldman Sachs International and Anglo
    American (both based in the United Kingdom) where she was responsible for
    M&A execution, investment evaluation and strategic long term financial
    planning. During her time at Goldman Sachs and Anglo American, she
    executed cross-border transactions in Consumer / Retail, Healthcare, Real
    Estate and Metals and Mining across the UK, Africa and the Americas. Ms
    Mkhondo is a Chartered Accountant by profession, having begun her career
    in the Audit and Advisory Financial Institutions services Team at Deloitte
    in Johannesburg. In addition, she has an MBA from London Business School
    where she was a Mo Ibrahim Scholar.

The third appointment to the board is that of Mr Antony Ball who is appointed
as non-executive director of PPC.
•   Mr Ball is the co-founder of Value Capital Partners (VCP). Prior to that,
    Antony’s notable business accomplishment was the founding (1990) and
    building of Brait, South Africa’s premier private equity business which
    is regarded as being the pioneer of private equity in the region, and
    played an important role in bringing both domestic and international
    investors into the asset class. In addition, Antony has a wealth of board
    experience and a track-record of building businesses. Mr Ball is a
    qualified Chartered Accountant.

The Board welcomes the newly appointed non-executive directors and is looking
forward to their contribution in their respective roles.

Sandton
2 March 2018

Investor contacts:
Anashrin Pillay
Tel: +27 (0) 11 386 9000
Anashrin.Pillay@ppc.co.za

Sponsor to PPC
Merrill Lynch South Africa (Pty) Ltd

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