GLOBAL ASSET MANAGEMENT LIMITED - Changes to the Board of Directors

Changes to the Board of Directors

GLOBAL ASSET MANAGEMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/003192/06)
Share Code: GAM           ISIN: ZAE000173498
("Global" or “the Company”)

CHANGES TO THE BOARD OF DIRECTORS

In compliance with paragraph 3.59(c) and (b) of the Listings Requirements of the
Johannesburg Stock Exchange, shareholders are advised of the change in role of
Mr G Cunliffe, who has stepped down as a member of the Audit and Risk Committee following
the employment of a family member within the Global group, and of the resignation from the
board of Mr C Cilliers as a non-executive director, both with immediate effect.

The Audit Committee remains properly constituted in accordance with the Companies Act,
2008.

Johannesburg
20 December 2018

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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