Change to the Board of Directors of KAP KAP LIMITED (former name: KAP Industrial Holdings Limited) (Incorporated in the Republic of South Africa) (Registration number: 1978/000181/06) JSE alpha code: KAP LEI code: 3789001F51BC0045FD42 ('KAP' or 'the Company') CHANGE TO THE BOARD OF DIRECTORS OF KAP In accordance with paragraph 6.39(a) of the JSE Limited Debt Listings Requirements, bondholders are advised that the board of directors of KAP ('the Board') resolved to appoint Mr Sipho Nkosinathi Maseko ('Sipho') as an independent non-executive director of KAP, with effect from 15 March 2024. Sipho holds a Bachelor of Arts and a Bachelor of Laws (LLB). His professional experience includes articles at Werksmans, followed by positions at the Department of Trade and Industry and the Financial Services Board. Sipho spent more than a decade with BP South Africa, for the majority of which he served as the Managing Director of Retail Southern Africa, whereafter he was the Chief Operating Officer and Chief Executive Officer for BP Africa. He later joined Vodacom as Managing Director South Africa and Chief Operating Officer. Most recently, Sipho served as the Chief Executive Officer of Telkom, for 9 years. Sipho has previously served as chairman of Shell and BP South African Petroleum Refineries (SAPREF) and as a non-executive director of Afrox Ltd, Gyro Group and Trudon Pty Ltd. He is currently an independent non-executive director of Shoprite Holdings Ltd, an advisory board member of the Centre for Development and Enterprises, and runs his own family office, which participates in real estate, infrastructure and agriculture advisory services. In accordance with the KAP Board Succession Plan, Sipho has also been appointed to the KAP Investment Committee and the KAP Social and ethics Committee on the same date. Sipho has been appointed to the Board in terms of the Board succession plan and in anticipation of a potential retirement from the Board which will be announced in due course. The appointment has been made in terms of KAP's nomination policy. The Board welcomes Sipho and is looking forward to his valuable contribution to the future growth and development of KAP. By order of the Board KAP Secretarial Services Proprietary Limited Stellenbosch 12 March 2024 Debt Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 12-03-2024 02:00:00 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.