AYO TECHNOLOGY SOLUTIONS LIMITED (Incorporated in the Republic of South Africa) Registration number: 1996/014461/06 JSE share code: AYO ISIN ZAE000252441 (“AYO” or “the Company”) CHANGES TO THE BOARD OF DIRECTORS - APPOINTMENT OF CHAIRMAN AND NON-EXECUTIVE DIRECTORS Shareholders are referred to the SENS announcement published on 4 April 2023 wherein shareholders were advised of the passing of the Company’s Independent Non-Executive Chairman, Dr Wallace Mgoqi. In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are hereby advised of the following changes to the board of directors of the Company (“the Board”). 1. Appointment of Chairman The Board is pleased to announce the appointment of Prof Louis Henry Fourie, currently an Independent Non-Executive Director, as the interim Independent Non-Executive Chairman of the Company with effect from Monday 17 April 2023, while the Company is in the process of appointing a permanent Chairman. Prof Fourie, who was first appointed to the Board in July 2020, will also serve on the Nomination Committee and Remuneration Committee. 2. Appointment of Non-Executive Directors The Board is also pleased to announce the appointments of: - Ms Valentine Dzvova as a Non-Executive Director of the Company with effect from Monday 17 April 2023. Ms Dzvova is a qualified Chartered Accountant with over a decade of leadership experience. She currently serves as a Non-Executive Director of multinational British Telecom SA and JSE listed Premier Fishing and Brands Limited (also serving on the audit and risk committee). She currently holds the position of Chief Executive Officer of the African Equity Empowerment Investments Limited (“AEEI”) group; and - Mr Jowayne van Wyk as a Non-Executive Director of the Company with effect from Monday 17 April 2023. Mr van Wyk is a qualified Chartered Accountant who has previously served as a Non-Executive Director of AEEI and the chairman of the audit and risk committee. He currently holds the position of Chief Financial Officer of the AEEI group. The Board looks forward to the aforementioned Directors’ contribution to AYO. Cape Town 18 April 2023 Joint Sponsor Vunani Sponsors Joint Sponsor Merchantec Capital