Changes to the board of directors ETION LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1987/001222/06) (Share Code: ETO) (ISIN: ZAE000097028) (“Etion” or “the Company” or “the Group’’) Changes to the board of directors In compliance with section 3.59 of the JSE Listings Requirements, shareholders are advised of the following changes to the Board of Etion (“the Board”) : • Mr Teddy Daka has been appointed as the Non-Executive Chairperson with effect from 1 February 2021; • Mr. Coenraad Bester has been appointed as the Lead Independent Non-Executive Director with effect from 1 January 2021; and • Ms. Nerishini Naidoo has been appointed as the Group Chief Financial Officer with effect from 1 February 2021. The Board will be constituted from 1 February 2021 as follows: Non-Executive Chairperson Mr Teddy Daka Lead Independent Non-Executive Director Mr. Coenraad Bester Independent Non-Executive Director Ms. Martie Janse van Rensburg Non-Executive Director Mr. Richard Willis Group Chief Executive Officer Mr. Elvin de Kock Group Chief Financial Officer Ms. Nerishini Naidoo The Board welcomes the above persons and wishes them well in their new roles. 26 November 2020 Pretoria Designated Adviser Exchange Sponsors Date: 26-11-2020 03:38:00 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.