THE SPAR GROUP LIMITED
                             (Incorporated in the Republic of South Africa)
                                (Registration number: 1967/001572/06)
                                            JSE Code: SPP
                                         ISIN: ZAE000058517
                                 (“SPAR”, “Company” or the “Group”)

  CHANGES TO THE BOARD: APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER AND
                     GROUP CHIEF OPERATING OFFICER

SPAR shareholders (“Shareholders”) are referred to the announcement published by the Company on
SENS on Thursday, 4 May 2023, wherein Shareholders were advised, inter alia, that SPAR was still in
the process of recruiting a successor to the former Group Chief Executive Officer (“CEO”), and that
Mr Mike Bosman would continue in the executive role as Executive Chairman of the Group until such
time as the new CEO is appointed.

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the board of Directors of
the Company (“Board”) is pleased to announce the following changes to the Board:

         •   The appointment of Mr Angelo Swartz (41) as the CEO and Executive Director of the Board
             with effect from 1 October 2023. Mr Swartz is highly respected in the SPAR Group, with a
             deep knowledge of the South African market, having been with the Company for 16 years
             and at Woolworths before that. He is currently the Divisional Managing Director of the
             second largest SPAR division in Southern Africa, the SPAR KwaZulu-Natal (“KZN”)
             division. In addition to his role as CEO, Mr Swartz will also take up the role of Chairman of
             the SPAR Guild on 1 September 2023.
         •   The appointment of Ms Megan Pydigadu (48) to the new role of Group Chief Operating
             Officer (“COO”) and Executive Director of the Board with effect from 1 November 2023.
             This position will strengthen the Group’s executive team and provide support to the CEO
             on the co-ordination and oversight of the operational and functional activities of the Group
             as well as retailer profitability. Ms Pydigadu brings her extensive restructuring, operational
             and change management experience to the new role and will add valuable bench strength
             to the SPAR Group Executive team.
         •   Mr Bosman will revert to being the Independent Non-Executive Chairman of the Board,
             effective 1 October 2023. He will also continue to serve as Independent Non-Executive
             Chairman on SPAR’s major foreign subsidiary boards.

Mr Bosman will work closely alongside Mr Swartz, to ensure a seamless transition for Mr Swartz in his
new role as CEO.

Mr Swartz commenced his retail career at Woolworths Holdings Limited and four years later joined
SPAR as a Project Manager in 2007. Over the past 16 years, he has progressed through the Company,
having held multiple positions across the business, including Senior Retail Operations Manager,
Business Development Manager, Regional Executive and Divisional Director for Build it and Divisional
Retail Operations Director. He was appointed as Divisional Managing Director of the SPAR Eastern
Cape division in October 2019, a position he held until 1 August 2022 when he took on the role of
Divisional Managing Director of the SPAR KZN division. Mr Swartz has demonstrated excellent strategic
and operational leadership across all his roles at SPAR.

Ms Pydigadu is a respected business leader who is highly experienced in corporate restructuring,
governance, and delivering operating efficiencies. She is a CA(SA) and holds a BCom (Accounting)
degree from the University of KZN. She started her career at Deloitte South Africa, serving her articles,
and thereafter becoming an audit manager. In January 2002, she joined De Beers as a Senior Divisional
Financial Manager and in September 2005 became the Group Financial Controller for Bateman
Engineering. She joined MiX Telematics as Chief Finance Officer (“CFO”) in August 2010.
In February 2017, she became the CFO of Eazi Access Rental before joining EOH Limited (“EOH”) as
the Group Finance Director and Executive Director in January 2019. She has been responsible for
leading, inter alia, the EOH group’s legal, financial, human resources, information technology,
communications, investor relations and business support digitisation.

Mr Mark Godfrey, the Group CFO, will continue to serve in this role with his current duties and
responsibilities and will continue to report to the CEO.

Commenting on the changes to the Board, SPAR’s Executive Chairman, Mike Bosman, said, “I am
delighted to be handing over the reins to Angelo, a proudly South African leader with deep experience
in the local retail industry. Having conducted a long and thorough search process involving many South
African and international candidates, the Board has no doubt that Angelo is the right person to lead
SPAR. We are confident in his ability to provide strong executive leadership, supported by the new
perspectives from the Group Chief Operating Officer, Megan Pydigadu, and the extensive experience
of existing Group CFO, Mark Godfrey. Angelo has been part of the South African executive team for
four years and has played an integral leadership role in South Africa during this time. During my short
tenure as Executive Chairman of SPAR, I have had the pleasure of working with him on a couple of
projects. I look forward to supporting Angelo through this transition and supporting the Group Executive
team, including each country’s CEOs.”

Incoming CEO, Angelo Swartz said: “It is a privilege and an honour to be appointed the Group CEO of
SPAR. I am grateful to the Board for their confidence in me to lead the Group. SPAR is a business
founded on strong relationships and an entrepreneurial spirit and I look forward to embracing the spirit
of both as I get to know all of our stakeholders. Many thanks to Mike for his leadership and custodianship
of the business over the past six months. I believe my operational experience, deep knowledge and
understanding of the SPAR culture, coupled with fresh outside perspectives, will position SPAR well,
on our path to modernise the business. I look forward to guiding the business through this next phase
of its growth.”

The Board would like to thank Mr Bosman for stepping in as Executive Chairman and for his exemplary
direction and leadership of the business during the interim period.

The Board would further like to congratulate Mr Swartz and Ms Pydigadu on their new roles and looks
forward to the value and contribution that they will bring to the Board and the Company.


Pinetown
28 July 2023

Sponsor
One Capital

Corporate Broker
Rand Merchant Bank, a division of FirstRand Bank Ltd