STEFANUTTI STOCKS HOLDINGS LIMITED - Leadership Changes

Leadership Changes

Stefanutti Stocks Holdings Limited
(Registration number 1996/003767/06)
Share code: SSK     ISIN: ZAE000123766
(“Stefanutti Stocks” or “the company”)

LEADERSHIP CHANGES

In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are
advised of the following changes to the board:

    (a)    Kevin Eborall will retire as board chairman and a director with effect from 31 May 2019 (as
           reported in the notice of annual general meeting which was posted to shareholders today, 28
           June 2018). Kevin has served on the board since 2007. Zanele Matlala, currently chairman of
           the Audit, Governance and Risk Committee, will be appointed as board chairman on 1 June
           2019 and at the same time she will step down as chairman of this committee. Zanele has been
           on the board as an independent non-executive director since 2012.

    (b)    Willie Meyburgh will retire from Stefanutti Stocks as CEO on 31 May 2019. Russell Crawford,
           currently Managing Director of the company’s Construction & Mining business unit, has been
           appointed as CEO Designate, reporting to CEO Willie with effect from 1 July 2018. This
           transitional arrangement will remain in place until 31 May 2019, when Russell’s appointment as
           CEO and director of the company, will be formalized and take effect from 1 June 2019. This
           arrangement will provide a structured handover at a time when experience, industry knowledge
           and stability are essential to the continued success of the business.

           Russell has worked in the civil engineering and construction industry for over 30 years and with
           Stefanutti Stocks for the past 28 years. He has been a director within the group since 2004 and
           Managing Director of the Roads & Earthworks division since 2006. From 2014 he held the
           position of Managing Director of the former Roads, Pipelines & Mining Services business unit,
           and was recently appointed as Managing Director of the Construction & Mining business unit.
           Russell has been a member of Stefanutti Stocks’ executive committee since 2016. He has
           extensive construction and contract mining experience and has been at the forefront of the
           group’s expansion into the rest of Africa.

    (c)    On 1 June 2019, Willie will be appointed as a non-executive director (non-independent) of the
           company. This will ensure his institutional knowledge, wide experience in the construction
           sector and wise counsel are retained at board level.

The board acknowledges Russell’s service to the company and welcomes him to his new role as CEO
Designate, and looks forward to his contributions.

The above changes are the consequence of a carefully considered and structured succession plan. They
are also indicative of the depth of leadership both at board level and within the senior management of the
group.

28 June 2018
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

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