PPC Ltd
 (Incorporated in the Republic of South Africa)
 (Company registration number 1892/000667/06)
 JSE ISIN: ZAE000170049
JSE code: PPC ZSE code: PPC
(“PPC”)



                  APPOINTMENT OF MATIAS CARDARELLI AS CHIEF EXECUTIVE OFFICER OF PPC


Following the leadership update provided in June 2023, the board of directors of PPC (“the Board”) is pleased to
announce the appointment of Mr Matias Cardarelli as Chief Executive Officer of PPC. His appointment follows an
extensive search for a suitable successor for Mr Roland van Wijnen, whose contract expired on 31 August 2023
and was extended to 31 December 2023 to facilitate an appropriate handover and transition.

Mr Cardarelli has a remarkable track record in the cement industry, across multiple emerging markets having
importantly spent the last five years in South Africa as CEO and Chairman of Natal Portland Cement (NPC) part of
Intercement group. During his tenure at NPC he successfully transformed the organisation by improving
efficiencies, boosting margins and EBITDA, and increasing cash generation. With this deep understanding of the
local industry and his proven leadership skillset, Mr Cardarelli will play a pivotal role in continuing to drive PPC’s
growth, improve profitability and enhance returns.

Prior to moving to South Africa in 2019 to join NPC, Mr Cardarelli led the operational and financial turnaround of
Amreyah Cement in Egypt and scaling-up of Yguazu Cementos in Paraguay. Following the onset of Covid 19 and
the emergence of a new entrant in the Mozambican cement market, Mr Cardarelli’s portfolio was expanded to
include Cimentos de Mozambique, where he successfully implemented an operational and commercial plan to
return the company to profitability.

About his appointment, Mr Cardarelli says, “I am excited to be joining PPC at this important time in its journey
and highly value the trust placed in me by the Board. I equally look forward to working together with the PPC
team as we write this iconic company’s next chapter. In the five years we have lived here my family and I have
come to deeply love South Africa and her people. I look forward to contributing positively to both PPC and the
country.”

The Board welcomes Mr Cardarelli and looks forward to his leadership and contribution to the company’s path
to sustainable profitability. Mr Cardarelli has signed a four-year contract which is subject to obtaining the
necessary work permit and is expected to start during the last quarter of 2023.

The Board wishes to thank outgoing CEO Roland van Wijnen. Under Roland's leadership, PPC has undergone a
strategic repositioning through successfully implementing a restructuring of its debt, realigning its governance
and reporting procedures and re-focusing its growth objectives in Southern Africa whilst navigating the challenges
posed by Covid-19.

Sandton
4 September 2023

Sponsor
Questco Corporate Advisory Proprietary Limited

Financial Communications Advisor:
Instinctif Partners
Louise Fortuin
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