Change to the board of directors ELLIES HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2007/007084/06) JSE share code: ELI ISIN: ZAE000103081 ("Ellies" or "the company") CHANGE TO THE BOARD OF DIRECTORS Shareholders are referred to the announcement released on 11 December 2018, wherein shareholders were advised that that as a result of being appointed as directors of Ellies after the notice of annual general meeting was issued, the appointment of Reshoketswe Ralebepa and Ian Russell as directors of Ellies was not put to shareholders for confirmation at the annual general meeting held on Friday, 7 December 2018 ("AGM"). As a consequence, Reshoketswe Ralebepa and Ian Russell ceased to be directors at the AGM and two vacancies arose on the board at that time. In order to avoid the number of directors falling below the minimum number of directors required by the company's memorandum of incorporation, the board of directors opted, prior to the AGM, to fill such vacancies immediately as they arose by reappointing Reshoketswe Ralebepa and Ian Russell as directors. These board resolutions and the validity of the re- appointment of Reshoketswe Ralebepa and Ian Russell are both presently in dispute by certain of the shareholders. Shareholders are further advised that on Monday, 14 January 2019, Reshoketswe Ralebepa requested the board of directors to amend the company records to no longer reflect her as a director of the company with effect from 7 December 2018 due to the current dispute as to the validity of her re-appointment as a director of Ellies. 16 January 2019 Sponsor Java Capital Date: 16/01/2019 05:15:00 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.