NDALA INVESTMENTS NO.1 (RF) LIMITED - Changes to the board of directors

Changes to the board of directors

Ndala Investments No.1 (RF) Limited
Registration number 2008/029037/06
JSE Alpha code: NDAI
(“Ndala”)

CHANGES TO THE BOARD OF DIRECTORS

In compliance with paragraph 6.39 of the Debt Listings Requirements, bondholders are advised of the
following changes to the board of directors of Ndala:

1.   Mr Richard Hayne, a non-executive director of Ndala and Mr BA Stewart, alternate director to Mr
     Hayne, have resigned with effect from 23 May 2022. The resignation of Mr Hayne is as a result
     of his retirement from Nedbank Limited; and

2.   subsequent to the above, Mr H Ackermann has been appointed as a non-executive director and
     Mr S Gounder as alternate director to Mr Ackermann, with effect from 23 May 2022 to fill the
     vacancy.

27 May 2022

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 27-05-2022 04:05:00
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