Appointment Of Independent Chairperson CALGRO M3 HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2005/027663/06) JSE Share code: CGR ISIN: ZAE000109203 (“Calgro M3 or “the Company”) APPOINTMENT OF INDEPENDENT CHAIRPERSON In accordance with paragraph 3.59(c) of the Listings Requirements of the JSE Limited, shareholders are hereby advised that Mr Hatla Ntene (“Mr Ntene”) has been appointed as the independent chairperson of Calgro M3 with effect from 26 June 2020. As previously announced on SENS on 24 March 2020, Ms Pumla Radebe will be stepping down as chairperson of the board, effective 26 June 2020. Mr Ntene was appointed to the Board of Directors as a non-executive director in 2007 and therefore has extensive knowledge and experience of the Company and its operations. Mr Ntene obtained his Bachelor of Science Degree (Quantity Surveying) from the University of Dublin, a Diploma in Construction Economics from the Bolton Street College of Technology, Republic of Ireland and a Diploma in Civil Engineering from Lerotholi Polytechnic. Mr Ntene is currently serving as the executive chairman of both Mvua Property Partners and Pulaprop. He is also a non-executive director of Wilson Bayly Holmes Ovcon (WBHO), Vukile Property Fund, AECOM South Africa, Spectrum Valuations & Asset Solutions and The Don Group. Mr Ntene was previously a partner in Farrow Laing Ntene, one of the largest Quantity Surveyor firms in South Africa. Mr Ntene was also the Property Executive Manager of Propnet (Property Division of Transnet) for three years. Mr Ntene has over 35 years’ experience in, and exposure to, the built environment, and the construction, property and property-related industries. This experience, together with his experience as a board chair and board member, and his outstanding leadership qualities and pragmatic approach to problem solving, makes Mr Ntene a sought-after leader in the property development environment. The board welcome the appointment of Mr Ntene as chairperson of the board and looks forward to his leadership. Johannesburg 18 May 2020 Sponsor PSG Capital Date: 18-05-2020 01:55:00 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.