Changes to the Arrowhead board of directors ARROWHEAD PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2007/032604/06) JSE share code: AHA ISIN: ZAE000275491 JSE share code: AHB ISIN: ZAE000275509 (Approved as a REIT by the JSE) (“Arrowhead” or “the Company”) _______________________________________________________________________________________ CHANGES TO THE ARROWHEAD BOARD OF DIRECTORS _______________________________________________________________________________________ Shareholders are referred to the (i) category 1 circular and accompanying revised listing particulars (“Circulars”) which were distributed to Shareholders on 10 December 2021, (ii) results of the Arrowhead general meeting announced on 14 January 2022 and (iii) the joint finalisation announcement by Arrowhead and Fairvest Property Holdings Limited on 18 January 2022. The Company hereby wishes to confirm the following appointments to the Arrowhead board of directors (“Arrowhead Board”), effective from the operative date of the Scheme (as defined in the Circulars), which is expected to be from the commencement of trade on 31 January 2022: Director Capacity Board committee membership Darren Wilder Chief executive officer Investment Jacques Kriel Chief financial officer Investment Ndabezinhle Mkhize Chairman Remuneration, nomination, Independent non-executive director Investment (Chair) Jacques du Toit Independent non-executive director Remuneration, nomination, Investment Louis Andrag Independent non-executive director Remuneration, nomination (Chair), Social and ethics (Chair), Investment Khegu Nkuna Independent non-executive director Audit and risk, Investment Advocate Jacob Wiese Independent non-executive director Audit and risk, Investment The following directors will remain on the Arrowhead Board: Director Capacity Board committee membership Nozipho Makhoba Independent non-executive director Audit and risk (Chair) Investment Arnold Basserabie* Independent non-executive director Investment * Previously chairman of the audit and risk committee The following directors will resign from the Arrowhead Board and board committees: Director Capacity previously held Board committee membership previously held Mark Jonathan Kaplan Chief executive officer Investment, Social and ethics Junaid Limalia Chief financial officer Investment Gregory Stephen Kinross Chairman Nomination (Chair), Independent non-executive director Remuneration Taffy Monty Adler Independent non-executive director Remuneration, nomination, Social and ethics Sam Mokorosi Independent non-executive director Social and ethics (Chair), Investment (Chair), Audit and risk The Arrowhead Board would like to express their appreciation to the departing members of the Arrowhead Board for their valuable contribution towards the Company and its success. The Arrowhead Board accepts responsibility for the information contained in this announcement insofar as it relates to Arrowhead. To the best of the Arrowhead Board's knowledge and belief, the information contained in this announcement is true and the announcement does not omit anything likely to affect the importance of the information. 19 January 2022 _______________________________________________________________________________________ Lead corporate advisor Ferryman Capital Partners Proprietary Limited Joint corporate advisor and transaction sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Attorney and competition law advisor Cliffe Dekker Hofmeyr Incorporated Date: 19-01-2022 04:37:00 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.