THE SPAR GROUP LIMITED - Appointment of an independent non-executive director and changes to board committees

Appointment of an independent non-executive director and changes to board committees

THE SPAR GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/001572/06)
JSE Code: SPP
ISIN: ZAE000058517
("SPAR" or the "Company")

APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHANGES TO
BOARD COMMITTEES

Appointment of an independent non-executive director

In compliance with paragraph 3.59(a) of the JSE Limited Listings Requirements ("JSE Listings
Requirements"), the board of directors of SPAR ("Board") wishes to notify SPAR shareholders
("Shareholders") of the appointment of Ms Olufunke (Funke) Ighodaro as an Independent Non-
Executive Director of the Board, with effect from the conclusion of the Company's 2024 Annual General
Meeting, held on Wednesday, 21 February 2024.

Funke Ighodaro is currently an Independent Non-Executive Director and Chair of the Audit Committee
of Old Mutual Limited and its life insurance subsidiary, Old Mutual Life Assurance Company (South
Africa) Limited, and the Lead Independent Director and Chair of the Investment Committee of Sabvest
Capital Limited as well as an Independent Non-Executive Director of Telkom SOC Limited. She was
previously the Deputy Chair and Lead Independent Director of Massmart Holdings Limited, and was
the Chair of the Audit and Risk Committee. She has also served as Chair of the Audit and Risk
Committee of Transaction Capital Limited and was an Independent Non-Executive Director of Datatec
Limited.

Ms Ighodaro was previously the Chief Financial Officer of Tiger Brands Limited and of Primedia Limited
and an Executive Director of EMTS Limited (trading as 9mobile), Nigeria's fourth largest
telecommunications company. She also founded and led the private equity business of the Kagiso Trust
Investment Group.

Ms Ighodaro holds a Bachelor of Science (Honours) degree in Operational Research from the University
of Salford. She is a Fellow of the Institute of Chartered Accountants in England and Wales, and a
Chartered Accountant (SA).

Changes to the composition of the Board committees

In compliance with paragraph 3.59(c) of the JSE Listings Requirements, Shareholders are further
notified of the following changes to the composition of the Audit Committee and Social, Ethics and
Sustainability Committee, respectively, with effect from Thursday, 22 February 2024:

•   Mr Pedro da Silva has resigned as an interim member of the Audit Committee;
•   Mr Lwazi Koyana has stepped down from his role as interim Chairman of the Audit Committee,
    but will remain as a member;
•   Ms Funke Ighodaro has been appointed as a member and Chairman of the Audit Committee;
    and
•   Ms Trudi Makhaya has been appointed to serve as the Chairman of the Social, Ethics and
    Sustainability Committee.


Pinetown
22 February 2024

Sponsor
One Capital

Date: 22-02-2024 05:20:00
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