Changes To The Board AFRICAN DAWN CAPITAL LIMITED Incorporated in the Republic of South Africa (Registration number: 1998/020520/06) Share code: ADW ISIN Code: ZAE000223194 (“Afdawn” or “the Company”) CHANGES TO THE BOARD In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, the board of directors of the Company (“the Board”) wishes to advise that Mr Jacques Groenewald (“Mr Groenewald”) and Ms Hester Hickey (“Ms Hickey”) have resigned as executive director and independent non-executive director of the Company, respectively, with effect from 31 August 2019. Shareholders are further advised that Mr James Slabbert, who assumed the role of non-executive chairman of the Board, will move into the role of executive chairman with effect from 1 September 2019. Mr Groenewald will continue to serve as a director on the boards of Elite Group Proprietary Limited and YueDiligence Proprietary Limited, both being subsidiaries of the Company. His services will also continue to be available to the Company on a consulting basis. The Board would like to thank Mr Groenewald and Ms Hickey for their valuable contribution to the Company and wishes them well in their future endeavours. Johannesburg 30 August 2019 Designated Adviser PSG Capital Date: 30/08/2019 05:05:00 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.