Changes to the board - BIDEN DENEL SOC LIMITED Registration number: 1992/001337/30 JSE Alpha Code: BIDEN CHANGES TO THE BOARD Acting Group Chief Executive Following the expiry of Mr Talib Sadik’s contract as acting Group Chief Executive of Denel, the Board of Denel has nominated Mr William Hlakoane as the acting Group Chief Executive of Denel. The aforementioned nomination was approved by Denel’s shareholder, being the Government of South Africa, and Denel is now in a position to confirm the appointment of Mr William Hlakoane as the acting Group Chief Executive of Denel effective 22 February 2021 and for a period of six months. Coinciding with the end of his tenure as Acting GCEO, Mr Talib Sadik has resigned as the director of Denel. William Hlakoane is the current Group Chief Operating Officer of Denel which allows for a seamless transition. He has a wealth of experience in the manufacturing sector, backed by a solid career track record that adds value to Denel. Mr Hlakoane is a Mechanical Engineer with an MBA, an experienced executive in Operations Management with in-depth technical abilities, project management and business development. The Chairman of the Board, Ms Monhla Hlahla, says the Board wishes to thank the outgoing Mr Talib Sadik for the enormous value he has added over the years and more specifically during his acting period. Ms Hlahla further wishes to assure employees, suppliers, customers and all stakeholders that while the board is dealing with the difficult financial challenges – the focus remains on turning around the business towards sustainable growth and profitability. The Board welcomes Mr Hlakoane into the interim role and looks forward to working with him on a successful outcome for Denel. The recruitment process of the permanent Group Chief Executive Officer is underway and the appointment will be communicated to all stakeholders in due course. Resignation of directors The following resignations were noted at Denel’s Annual General meeting held 29 January 2021: - General (Retired) Siphiwe Nyanda resigned effective 21 January 2021. - Ms Kabelo Lehloenya resigned effective 14 January 2021. Subsequently the following resignation have been received: • Dr Sibusiso Sibisi effective 16 February 2021. • Ms Sue Rabkin effective 18 February 2021. For further information, contact: Pam Malinda Cell: +27 (0) 82 686 2198 Tel: +27 (0) 12 671 2662 email: pamm@denel.co.za 22 February 2021 Debt Sponsor Nedbank Corporate and Investment Banking Date: 22-02-2021 09:33:00 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.