The board of directors of African Rainbow Capital Investments Limited ("Board") hereby notifies its shareholders of the following changes to the composition of the Nominations and Remuneration Committee ("N&RC/the Committee"), with effect from 11 September 2023: Mr. Anil Currimjee has been appointed as the Chair of the N&RC, replacing Ms Refiloe Nkadimeng, who will remain a member of the Committee; and Mr. Clive Msipha resigns and steps down as a member of the N&RC. Accordingly, the Committee will be comprised as follows: Mr. Anil Currimjee (Chair of the Committee); Mr. Mark Olivier (Chair of the Board); and Ms Refiloe Nkadimeng. The Board would like to express its sincere gratitude to the directors for their valued, ongoing contribution to the Company and looks forward to their continued contributions.