THE SOUTH AFRICAN NATIONAL ROADS AGENCY SOC LIMITED - Appointment of Chief Executive Officer

Appointment of Chief Executive Officer

The South African National Roads Agency SOC Limited
Incorporated in the Republic of South Africa
(Registration number 1998/009584/30)
Alpha code: BINRA
(“SANRAL” or the “Company”)

APPOINTMENT OF CHIEF EXECUTIVE OFFICER (“CEO”)

In accordance with paragraph 6.39(a) of the Debt Listings Requirements, the SANRAL Board is
pleased to announce that Cabinet has approved – after recommendation of the Board to the
Transport Minister, Mr Fikile Mbalula – the appointment of Mr Reginald Lavhelesani Demana as the
CEO designate of SANRAL. The appointment is subject to standard clearance and verification
procedures and has been made in terms of section 12(2)(b) of the SANRAL Act, No 7 of 1998, as
amended.

Mr Demana is currently a Divisional Executive at the Industrial Development Corporation of South
Africa SOC Limited (IDC), a state-owned development finance institution, where he is responsible for
a portfolio that covers mining, metals, infrastructure and energy. Mr Demana is a trained engineer
and has more than 20 years’ working experience, including in investment banking which should
stand SANRAL in good stead given its participation in the bond market. During this time, he played a
leading role in numerous major transformational transactions in the sector.

His scale of expertise includes mergers and acquisitions, structuring of BEE deals, capital raising and
general strategic corporate finance. He was previously the CEO of a JSE Main Board listed coal
mining and trading company.

Mr Demana began his professional working career as a mining engineering trainee with Anglo
American Platinum and then as a mine health and safety inspector with the Department of Mineral
Resources and Energy (formerly Department of Minerals and Energy).

He holds a BSc. in Mining Engineering from Wits University and a MSc. in Mining Engineering (with
distinction) from Exeter University in the United Kingdom.

The SANRAL Board believes that, given his impressive educational qualifications, experience in senior
strategic positions and the lead roles he has played in corporate finance in general, Mr Demana will
contribute towards the stabilisation of SANRAL’s finances (particularly the toll portfolio) and that he
will continue to implement the Company’s mandate to plan, build and maintain the national road
network with the excellence associated with SANRAL.

The SANRAL Board wishes to thank Ms Lehlohonolo Memeza, the Acting CEO, who has so diligently
carried the baton since the departure of the former CEO in 2021. Her efforts to steer the ship on all
levels and the support she has received from all her SANRAL colleagues are highly appreciated. She
has done us proud as our interim CEO and will continue in her current role until Mr Demana assumes
responsibility. As soon as formal communication is received from the Minister of Transport, the
SANRAL Board will finalise all processes relating to the appointment and will release a further
announcement confirming the effective date of the appointment.

21 October 2022

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

Date: 21-10-2022 11:57:00
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