Changes to the Board of Directors – Appointment of Director and Alternate Director EFFICIENT GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 2006/036947/06) Share code: EFG ISIN: ZAE000151841 (“Efficient” or “the Company”) CHANGES TO THE BOARD OF DIRECTORS – APPOINTMENT OF DIRECTOR AND ALTERNATE DIRECTOR In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of Efficient (“the Board”) hereby notifies its shareholders of the following changes to the Board with immediate effect. - Mr Erol Zeki has been appointed to the Board as a non-executive director. Erol has over 18 years of experience in the Wealth and Investment industry and is currently the CEO of Sasfin Wealth. Before joining Sasfin, Erol was the founder and CEO of SIPP Investments, a fintech and financial services business which was acquired by Sasfin Wealth. Prior to that, he held the role of CEO of FNB Securities. Erol holds a BCom (Hons): Finance from the University of Pretoria and is a CFA Charter holder. He is also a member of the South African Institute of Stockbrokers who, over his career has gained broad experience across client relationship management, the technical and operational side of wealth and investment as well as business and leadership. - Ms Bongiwe Momoza has been appointed as alternate director to non-executive director, Mr Erol Zeki. Bongiwe has more than 10 years’ experience in the financial services industry and is currently employed as a Senior Asset Consultant at Sasfin. Before joining Sasfin Bongiwe was a Senior Asset Consultant at Absa Asset Consulting as well as an Associate Consultant at Alexander Forbes Asset Consultants. Bongiwe holds a BCom (Hons): Economics and a Masters in Finance and Investments from Wits Business School. The Board welcomes Erol and Bongiwe to the Board and looks forward to their contributions to the Company. Johannesburg 13 February 2019 Sponsor Merchantec Capital Date: 13/02/2019 04:02:00 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.