Appointment of Non-Executive Director and Chairman of the Board AFRICAN DAWN CAPITAL LIMITED Incorporated in the Republic of South Africa (Registration number: 1998/020520/06) Share code: ADW ISIN Code: ZAE000223194 (“Afdawn” or “the Company”) APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements, the board of directors of the Company (“the Board”) wishes to advise that James Slabbert (“James”) has been appointed as a non-executive director of the Company and as the chairman of the Board with effect from 6 December 2018. James has over 30 years of experience in the banking, investments and financial services sectors, having been involved in major business and various corporate transactions locally and internationally. Prior to founding Gowin Proprietary Limited, which is the holding company of Arvesco 153 Proprietary Limited, James held the following positions: - executive director of Group Strategy at Absa Bank Limited; - managing executive of Absa Corporate & Business Bank at Barclays Africa Group Limited; - founder and chief executive officer of First South Financial Services (which later became Macquarie First South); and - co-head of research for Southern Africa & emerging markets and top-rated banks, insurance and financial services analyst at Merrill Lynch (which later became Bank of America Merrill). The Board welcomes James and looks forward to his contribution to the Company. Johannesburg 6 December 2018 Designated Adviser PSG Capital Date: 06/12/2018 12:40:00 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.