AFRICAN BANK LIMITED - Changes To The Board Of Directors - ABKI and ABLI

Changes To The Board Of Directors - ABKI and ABLI

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
LEI: 2549008X8SL1B1J86F98
Company code: ABKI
(the "Bank" or "African Bank")

AFRICAN BANK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No.: 2014/176855/06)
Company code: ABLI
LEI: 254900UUEMIK0XL5A056
("ABHL" or the "Group")

CHANGES TO THE BOARD OF DIRECTORS OF AFRICAN BANK LIMITED ("ABL") AND
AFRICAN BANK HOLDINGS LIMITED ("ABHL")

In accordance with paragraph 6.42 of the JSE Limited Debt and Specialist Securities Listings
Requirements, noteholders are hereby advised that Mrs Happy Ralinala, an Independent
Non-Executive Director ("INED") of both ABL and ABHL, has resigned with effect from 31
December 2024, to pursue her personal business interests. Consequently, she simultaneously
resigns as Chairman of the ABHL Remuneration Committee and member of the Social, Ethics
and Transformation Committee, the Directors' Affairs and Governance Committee and the
Special Projects and Large Exposures Committee.

In line with the Board succession plan, the Board of Directors of ABHL and ABL have approved
the appointment of Mrs Lindiwe Dlamini as the Chairman of the Remuneration Committee
effective 1 January 2025.

The recruitment of a replacement INED to the ABHL and ABL Boards is currently underway,
and noteholders will be advised of progress as updates become available.

Mrs Ralinala was appointed to the ABHL and ABL Boards on 23 May 2018 and has served on
various Board Committees and on subsidiary Boards during her tenure. The Boards have
expressed their gratitude and sincere appreciation to Mrs Ralinala for her immense and
invaluable contribution while serving on the Boards and Board Committees. Mrs Ralinala has
been instrumental in carving out and implementing a remuneration philosophy and policy
that balanced the interests of employees and investors in pursuit of a sustainable and
competitive African Bank Group. Her expertise, wisdom and experience will be sorely missed
and the Boards wish her continued success in her future business endeavours.


23 December 2024
Debt Sponsor
The Standard Bank of South Africa Limited

Date: 23-12-2024 08:40:00
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