Appointments at Kagiso Tiso Holdings of Chief Executive Officer and Chief Financial Officer

20 January 2020

Kagiso Tiso Holdings ("KTH") is pleased to announce the appointments of Paballo Makosholo as Chief Executive Officer and Tshepo Setshedi as Chief Financial Officer with immediate effect.

Paballo previously served as a non-executive director of KTH since its inception in 2011 and chaired the Investment Committee. He joins KTH from Kagiso Capital where he was the Chief Operating Officer and has in excess of 12 years' experience at executive and board level. He currently serves as a director of FirstRand Limited. As a Chartered Accountant, he also holds an MComm South African and International Tax from the University of Johannesburg and did an International Executive Development Program with Columbia Business School

"We are fortunate to have someone of Paballo's calibre and experience step up to lead KTH," said Nkululeko Sowazi, Chairman of KTH. "We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead. Furthermore, as a member of KTH board of directors since 2011, Paballo has a solid understanding of our products, markets and espouses the KTH values."

Tshepo served as Chief Financial Officer of Kagiso Media, a wholly owned subsidiary of KTH. He was previously an executive at Kagiso Trust Investments ("KTI") and KTH

Finance and Investment divisions. Prior to joining KTI, he worked for Eskom Treasury and PricewaterhouseCoopers. He is currently Chairman of various group companies and a non- executive director on other boards including Kaya FM, Heart FM and Gagasi FM. Tshepo is a Chartered Accountant with in excess of 15 years' experience in finance.

Nkululeko Sowazi said "Tshepo's deep knowledge of KTH as well as his financial acumen make him highly qualified to take on the CFO role. His appointment also ensures continuity given his previous role in KTH and Kagiso Media which is one of the significant assets in our portfolio."

Kagiso Tiso Holdings

KTH is an investment holding company which, through its legacy companies Kagiso Trust Investments and Tiso Group, boasts a track record of investment performance and creating long term sustainable shareholder value. KTH currently has a portfolio of investments comprising market leading companies across key sectors.

For enquiries please contact:
Dumisani Mtshali
E-mail: dumisanim@kagisomedia.co.za
Cell: +27 (0) 82 717-5012