ACSION LIMITED - Changes in functions of directors

Changes in functions of directors

Acsion Limited
Incorporated in the Republic of South Africa
(Registration number 2014/182931/06)
Share code: ACS
ISIN: ZAE000198289
(“Acsion” or the “Company”)

CHANGES IN FUNCTIONS OF DIRECTORS

Shareholders are referred to the announcement released on SENS on 7 August 2020 relating to the
retirement of Advocate David Green as chairman and Nicholas Hlengani Bila as an independent non-
executive director. Pursuant to the aforementioned retirements, shareholders are advised as follows:

1. Chairman of the Board of Directors

   Mr. Thabani Subusiso Jali, and independent non-executive director of Acsion, has been appointed as
   chairman of the Board of Directors with effect from 11 August 2020.

2. Reconstitution of Board Committees with effect from 11 August 2020

   Audit and Risk Committee

   Mrs. Anna Modi Hlobo has been reappointed independent chairman of the Audit and Risk Committee.

   Mr. Thabani Sibusiso Jali and Dr Phetole David Sekete have been appointed as members of the Audit
   and Risk Committee.

   Remuneration Committee

   Dr Phetole David Sekete has been appointed independent chairman of the Remuneration Committee.

   Mrs. Anna Modi Hlobo and Mr. Thabani Sibusiso Jali have been reappointed as members of the
   Remuneration Committee.

   Social and Ethics Committee

   Dr Phetole David Sekete has been reappointed independent chairman of the Social and Ethics
   Committee.

   Mr. Kiriakos Anastasiadis and Mr. Thabani Sibusiso Jali have been appointed as members of the
   Remuneration Committee.

14 August 2020
Sponsor Nedbank Corporate and Investment Banking

Date: 14-08-2020 07:05:00
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