ADCOCK INGRAM HOLDINGS LIMITED - Changes to the board of directors

Changes to the board of directors

Adcock Ingram Holdings Limited
(Registration number 2007/016236/06)
(Incorporated in the Republic of South Africa)
Share code: AIP
ISIN: ZAE000123436
(“Adcock Ingram” or “the Company”)

CHANGES TO THE BOARD OF DIRECTORS

In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited,
Shareholders are advised of the following Board changes at Adcock Ingram:

•      Mr Clifford Raphiri will retire as Chairman of the Board and Nominations Committee as
       well as a member of the HR, Remuneration and Nominations Committee effective 30
       June 2019; and
•      Dr Roger Stewart will retire from the Board and as a member of the Audit Committee as
       well as the Chairman of the Risk and Sustainability Committee effective 30 June 2019.

Mr Raphiri and Dr Stewart retire from the Board in accordance with the Board resolution which
was adopted in 2018 that directors who have reached a 9-year tenure shall automatically retire
from the Board.

The Board is grateful for their contributions and wishes Mr Raphiri and Dr Stewart well in their
future endeavours.

•      Mr Lindsay Ralphs has been appointed Chairman of the Board effective 01 July 2019.
       He also serves as a member of the Acquisitions Committee; and
•      Prof Matthias (“Matt”) Haus has been appointed as the Lead Independent Director,
       effective 01 July 2019. In accordance with the principles of good corporate governance,
       the appointment of Prof Haus as Lead Independent Director is to achieve a balance of
       power and reinforce accountability mechanisms on the Board. Prof Haus also serves as
       a member of the Audit Committee and Risk and Sustainability Committee.

Adcock Ingram incoming Chairman, Mr Lindsay Ralphs, commented: “As a Board we express our
appreciation to Clifford and Roger for their significant contributions to the Company. I am delighted to
have been appointed Chairman of Adcock Ingram and look forward to working well with the Board,
management and Matt to build on the solid foundation laid by my predecessors.”

ABRIDGED CVS

Mr Ralphs is the CEO of The Bidvest Group Limited and Director of numerous Bidvest
subsidiaries, and Chairman of Bidvest Namibia. He joined the Adcock Ingram Board on 24
November 2016.

Prof Haus was elected to the Adcock Ingram Board on 1 June 2012. He is Extraordinary
Professor in Medicine at the University of Pretoria. He is also a partner at Gateways Business
Consulting Group.

The Board congratulates Mr Ralphs and Prof Haus on their appointments and wishes them well
in their new roles.

Midrand


29 May 2019
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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