Changes to the Board of Directors Arden Capital Limited (formerly Brainworks Limited) (Registration number: 115883 C1/GBL) Share Code: ACZ ISIN: MU0548S00026 (“Arden Capital” or “the Company”) CHANGES TO THE BOARD OF DIRECTORS In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the Board of directors of the Company (“the Board”) wishes to advise shareholders of the following changes to the Board: 1. Mrs Manisha Ramphul has resigned from the Board with effect from 30 November 2020. 2. Mr Mohammad Naeem Sadagur has been appointed to the Board as Independent Non-Executive Director with effect from 30 November 2020. Mr Mohammad Naeem Sadagur has over five years’ of experience in the global business sector in Mauritius and is currently working as Client Service Manager at Adansonia Management Services Limited. He is also the Money Laundering Reporting Officer of the Adansonia group of companies. In 2014, he started his career at Maitland (Mauritius) Limited, where he performed the role of Client Accountant. After spending around one and a half year with Maitland (Mauritius) Limited, he joined Adansonia Management Services Limited in 2016, as a Senior Client Accountant and has since continued developing his career with Adansonia. The Board would like to take this opportunity to express its gratitude to Mrs Manisha Ramphul for her contribution to Arden Capital and welcome Mr Naeem Sadagur to the Board. Grand Baie, Mauritius 12 November 2020 Sponsor Questco Corporate Advisory Proprietary Limited Date: 12-11-2020 10:52:00 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.