Appointment Of Lead Independent Director And Changes To Board Committees THE FOSCHINI GROUP LTD Reg. No.: 1937/009504/06 Code : TFG ISIN: ZAE000148466 (“TFG” and “Company”) APPOINTMENT OF LEAD INDEPENDENT DIRECTOR AND CHANGES TO BOARD COMMITTEES In compliance with paragraph 3.59(c) of the JSE Listings Requirements, shareholders are advised of the following changes to the important functions of directors. APPOINTMENT OF LEAD INDEPENDENT DIRECTOR Graham Davin, currently an independent non-executive director, has been appointed as the Lead Independent Non-Executive Director with effect from 1 August 2020. The lead independent director performs specific duties primarily aimed at strengthening the chair of the board of directors in line with the recommendations contained in the King IV Report on Corporate Governance for South Africa 2016 (King IV). These duties include inter alia overseeing the evaluation of the chair, being a sounding board for the chair, being an avenue of communication for the other directors on any issues relating to the chair, and chairing discussions and decision making where the chair has a conflict of interest. CHANGE IN CLASSIFICATION OF RONNIE STEIN FROM NON-EXECUTIVE DIRECTOR TO INDEPENDENT NON-EXECUTIVE DIRECTOR Ronnie Stein, previously categorised as a non-executive director, is now classified as an independent non-executive director of the Company effective immediately. The Board of TFG, supported by the Nomination Committee, has assessed Mr Stein’s independence and is satisfied that he meets the requirements of independence, including those as set out in King IV. CHANGES TO BOARD COMMITTEES The following changes to the various board committees have been made with effect from 1 August 2020 and is a result of an ongoing review process, by the Nomination Committee, with regard to the composition of the Board and Board Committees as well as the need for succession planning and renewal and aims to align the Company with Corporate Governance requirements. Audit Committee • Sam Abrahams will step down as chairman and member of the Audit Committee • Eddy Oblowitz will be appointed as chairman of the Audit Committee • Fatima Abrahams will step down as a member of the Audit Committee • Ronnie Stein will be appointed as a member of the Audit Committee Risk Committee • Eddy Oblowitz will step down as chairman of the Risk Committee and will remain a member • Ronnie Stein will be appointed as chairman of the Risk Committee • Fatima Abrahams will be appointed as a member of the Risk Committee Nomination Committee • Sam Abrahams will step down as a member of the Nomination Committee • Graham Davin and Fatima Abrahams will be appointed as members of the Nomination Committee Cape Town 29 July 2020 Sponsor: UBS South Africa Proprietary Limited Date: 29-07-2020 02:50:00 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.