Kagiso Tiso Holdings Chairman Announcement

1 July 2020

On behalf of the KTH Board, I wish to announce that Mr Nkululeko Sowazi has decided to step down as Chairman of the Board with effect from 30 June 2020. Rev Frank Chikane, Non-Executive Director, has been appointed by the Board to succeed Mr Sowazi as Chairman of KTH with effect from 1 July 2020.

Mr Sowazi served as Co-Chairman at the time of the merger of Kagiso Trust Investments and Tiso Investment Holdings in 2011. He has been Chairman of KTH since 2014. He steps down as Chairman in order to focus on his business interests. He will continue to serve as a Non-Executive Director of KTH.

Mr Sowazi said: "It has been a huge honour to serve as Chairman of KTH and I am very proud of the work we continue to do as a truly purpose-driven company. I look forward to seeing KTH grow with Rev Chikane as Chairman. I will continue to be an ambassador of the KTH family".

Rev Chikane served on the KTH Board since November 2019. He has significant business experience having served on various boards in different capacities.

Rev Chikane said: "On behalf of the Board, I would like to thank Mr Sowazi for his strong leadership and the contribution he has made as Chairman. I am very proud to have been asked to succeed Mr Sowazi and I look forward to working with the Board and the KTH leadership team to support the company's continued growth aspirations."

Paballo Makosholo
Chief Executive