ADCORP HOLDINGS LIMITED - Appointment of Independent Non-Executive Director

Appointment of Independent Non-Executive Director

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR & ISIN: ZAE000000139
("Adcorp" or "the Company")

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements,
shareholders are advised that Ms Tshidi Mokgabudi has been appointed as an Independent
Non-Executive Director to the Board of Adcorp with effect from 15 October 2020.

Ms Mokgabudi is a Chartered Accountant with extensive experience in board and executive
leadership, as well as governance, spanning across both the public and private sectors. She
has extensive financial expertise, business acumen and leadership qualities, with more than
30 years of accounting, auditing and advisory experience within the public and private
sectors.

Ms Mokgabudi is a qualified Chartered Accountant, and holds various other qualifications
which include Diploma in Tax Law, Honours Bachelor of Accounting Science, Bachelor of
Accounting Science and Bachelor of Commerce, Economics and Industrial Psychology.

Ms Mokgabudi currently serves as the Chairperson for the UCT Audit and Risk Committee
(“ARC”) and Eaglequest Investments (Pty) Ltd Board of Directors. She is also a Director of
Notes of Nature and Truworths International Limited.

The appointment of Ms Tshidi Mokgabudi will allow a smooth transition process from Ms
Sindi Mabaso-Koyana (existing ARC Chairperson), who will be stepping down from the
Adcorp Board of Directors on 28 February 2021 in line with her statutory tenure. Ms Tshidi
Mokgabudi will be taking over the Chairmanship of the ARC, effective 01 March 2021.

The Board welcomes Ms Mokgabudi and looks forward to her future contribution to Adcorp.
Her skills align with the need state of the Company.

Johannesburg
16 October 2020

Sponsor
PSG Capital

Date: 16-10-2020 04:39:00
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