Adcorp Holdings Limited (JSE:ADR) News - Changes to the Board: Appointment of Alternative Non-Executive Director & Resignation of a Non-Executive Director ADCORP HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number: 1974/001804/06 Share code: ADR & ISIN: ZAE000000139 ("Adcorp" or "the Group" or “Company”) CHANGES TO THE BOARD: APPOINTMENT OF ALTERNATIVE NON-EXECUTIVE DIRECTOR & RESIGNATION OF A NON-EXECUTIVE DIRECTOR In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements, shareholders are advised that Mr Timothy Olls has been appointed as an alternative non-executive director to Mr Samuel Sithole of Adcorp with immediate effect. Mr Olls is an investment professional at Value Capital Partners (“VCP”). Prior to joining VCP, he was a Manager in the Mergers and Acquisitions team at PwC. He holds a Bachelor of Commerce with Honours in Accounting cum laude from Nelson Mandela University, is a registered Chartered Accountant (South Africa), and has passed all 3 levels of the CFA Program and completed the required work experience. The Board is confident that Mr Olls’ skills and expertise align with the current needs of the Company. The Board welcomes Mr Olls and looks forward to his future contribution to Adcorp. Shareholders are also advised that Mr Monde Nkosi will be stepping down as non-executive director of Adcorp effective 01 June 2022. The Board wishes to extend its gratitude to Mr Nkosi for his significant contribution to Adcorp since his appointment. Johannesburg 06 December 2021 Sponsor PSG Capital Date: 06-12-2021 12:48:00 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.