INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - IN02 - Changes to the board and board committees

IN02 - Changes to the board and board committees

Industrial Development Corporation of South Africa Limited
Incorporated in the Republic of South Africa)
Registration No. 1940/014201/06)
Bond Issuer code: IN02
("IDC")

CHANGES TO THE BOARD AND BOARD COMMITTEES

We refer to the announcement released on SENS on 27 June 2025 regarding the appointment of directors,
which was subject to the verification of qualifications and relevant security clearances. Noteholders are hereby
advised that the following directors will retire from office with effect from 1 September 2025.

 Board Member                                             Designation
 Ms Busi Mabuza                                           Chairperson
 Mr Brian Dames                                           Non-Executive
 Ms Philisiwe Mthethwa                                    Non-Executive
 Mr Andre Kriel                                           Non-Executive
 Mr Bobby Godsell                                         Non-Executive
 Dr Sizeka Magwentshu-Rensburg                            Non-Executive
 Adv Thandi Orleyn                                        Non-Executive
 Ms Nomavuso Mnxasana                                     Non-Executive
 Ms Susan Mangole                                         Non-Executive

The following directors who were appointed to the Board in accordance with the cabinet announcement
published on 26 June 2025, will commence office with effect from 1 September 2025:

 Board Member                                             Designation
 Mrs. Gloria Tomatoe Serobe                               Chairperson
 Mr Reon Barnard                                          Non-Executive
 Ms Tanya Cohen                                           Non-Executive
 Ms Ayanda Dlodlo                                         Non-Executive
 Dr Keitumetse Tebogo Mothibeli                           Non-Executive
 Dr Fholisani Sydney Mufamadi                             Non-Executive


In terms of paragraph 6.42 of the JSE Limited Debt and Specialist Listings Requirements ("DSS
Requirements"), noteholders are hereby advised of the appointment of the new IDC Audit Committee Members
due to board rotation. The Audit Committee members are appointed in accordance with the provisions of the
Companies Act and the King IV Report on Corporate Governance for South Africa 2016 (King IV), as amended.

 Name                                                     Designation
 Mr Reon Barnard                                          Chairperson
 Ms Tanya Cohen                                           Non-Executive
 Dr Fholisani Sydney Mufamadi                             Non-Executive
 Mr Patrick Mathidi                                       Independent External Member
 Mr Roger Pitot                                           Independent External Member

Noteholders are further advised on the appointment of the Social and Ethics Committee Members due to board
rotation. Non-executive directors are appointed as members of the IDC Social and Ethics Committee in
accordance with Section 72 of the Companies Act and Regulation 43, as amended.

 Name                                       Designation
 Ms Tanya Cohen                             Chairperson
 Dr Keitumetse Tebogo Mothibeli             Non-Executive
 Dr Fholisani Sydney Mufamadi               Non-Executive
 Ms Ayanda Dlodlo                           Non-Executive

Johannesburg
29 August 2025

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 29-08-2025 04:20:00
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.