Raubex Group Limited
(Incorporated in the Republic of South Africa)
Registration number 2006/023666/06
Share Code: RBX
ISIN Code: ZAE000093183
(“Raubex” or “the Company”)


APPOINTMENT OF BOARD CHAIRMAN, LEAD INDEPENDENT                                 DIRECTOR,
INDEPENDENT DIRECTOR AND CHANGES TO BOARD COMMITTEES

Appointment of Board Chairman and Lead Independent Director
Further to the SENS announcement dated 16 August 2022 wherein shareholders were
advised of the appointment of Mr Les Maxwell as the Acting Chairman of the Board, and in
compliance with paragraph 3.84(b) of the JSE Listings Requirements, shareholders are now
advised that Mr Les Maxwell is stepping down as Acting Chairman of the Board and that Mr
Rudolf Fourie has been appointed as the permanent Board Chairman of Raubex effective 6
December 2022.

Due to the fact that Mr Rudolf Fourie is the former CEO of Raubex and accordingly not
considered independent, the Board has, as recommended by the King IV Code, appointed Ms
Setshego Bogatsu as the Lead Independent Director. Ms Bogatsu has been an Independent
Non-Executive Director of the Company since 2017.

Appointment of Independent Director
In compliance with paragraph 3.59(a) of the JSE Listings Requirements, shareholders are
advised that Ms Nosisa Fubu has been appointed as an Independent Non-Executive Director
of the Board of Raubex with effect from 6 December 2022.

Ms Fubu is a qualified Chartered Accountant (SA) and an experienced executive and business
leader. She holds 16 years’ experience as a partner (head of forensic) and 8 years as a board
member at KPMG, and has also completed Graduate of Leadership Programmes at the
London and Stellenbosch Business Schools.

Changes to Board committees
In accordance with paragraph 3.59(c) of the JSE Listings Requirements, shareholders are
further advised of the following changes to the Board committees with effect from 6
December 2022 –

Audit Committee
• Mr Bryan Kent steps down as Acting Chairman of the Audit Committee but remains a
  member of this Committee.
• Mr Les Maxwell is, due to him stepping down as Acting Chairman of the Board, re-
  appointed as the Chairman and member of the Audit Committee.
• Following implementation of above, the Audit Committee members will be as follows –
  o Les Maxwell (Chairman)
  o Bryan Kent (Member)
  o Setshego Bogatsu (Member)

Risk Committee
• Ms Setshego Bogatsu is appointed as a member of the Risk Committee.
• Following implementation of above, the Risk Committee members will be as follows –
   o Bryan Kent (Chairman)
   o Robert Shedlock (Member)
   o Felicia Msiza (Member)
   o Les Maxwell (Member)
   o Setshego Bogatsu (Member)

Remuneration and Nomination Committee
• Ms Setshego Bogatsu steps down as Acting Chairperson of the Remuneration and
  Nomination Committee but remains a member of this Committee.
• Mr Les Maxwell is, due to him stepping down as Acting Chairman of the Board, re-
  appointed as the Chairman and member of the Remuneration and Nomination Committee.
• Following implementation of above, the Remuneration and Nomination Committee
  members will be as follows –
  o Les Maxwell (Chairman)
  o Bryan Kent (Member)
  o Setshego Bogatsu (Member)

The Board thanks Mr Les Maxwell for his contributions as Acting Chairman of the Board while
a permanent replacement was being sought.

The Board wishes Mr Rudolf Fourie and Ms Setshego Bogatsu well in their new roles as
Chairman and Lead Independent Director of Raubex, respectively.

The Board also welcomes Ms Fubu to Raubex and looks forward to her contribution on the
Board.

Centurion
7 December 2022
Sponsor
Investec Bank Limited