Comair : SENS - 30 November 2020 – Resignation of Director and Appointment of Executives

Comair Limited

(Incorporated in the Republic of South Africa)

(Registration Number: 1967/006783/06)

ISIN: ZAE00002983

Share Code: COM

("Comair" or " the Company")

RESIGNATION OF DIRECTOR AND APPOINTMENT OF EXECUTIVES

In accordance with paragraph 3.59(b) of the JSE Limited Listings Requirements, the board of directors of the Company ("the Board") wishes to advise that Ms Wrenelle Stander has stepped down as Chief Executive Officer of the Company and Executive Director of the Board effective 30 November 2020.

The Board would like to thank Ms Stander for her invaluable contribution to the Company over the past two years and especially for the hard work, commitment and outstanding leadership she provided during the period of the COVID 19 Pandemic and Business Rescue Process. The Directors and the business rescue practitioners wish her every success in her new endeavours.

Mr Glenn Orsmond has been appointed as the new Chief Executive Officer and Ms Kirsten King as Chief Financial Officer.

Bonaero Park

30 November 2020

Sponsor

PSG Capital

IMPORTANT NOTICE TO FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS

FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS IN COMAIR LIMITED ("COMAIR") SHOULD NOTE THAT, IN ORDER TO ENABLE COMAIR (AS A LICENSED AIR SERVICES OPERATOR IN SOUTH AFRICA) TO REMAIN COMPLIANT WITH THE FOREIGN OWNERSHIP RESTRICTION CONTAINED SECTIONS 16(4)(c) AND 19(a) OF THE AIR SERVICES LICENSING ACT, NO. 115 OF 1990, THE VOTING RIGHTS OF FOREIGN SHAREHOLDERS MAY BE DECREASED PROPORTIONATELY SUCH THAT THE VOTING RIGHTS OF FOREIGN SHAREHOLDERS DO NOT, IN AGGREGATE, EXCEED 24.99%. FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS ARE REFERRED TO THE COMAIR'S MEMORANDUM OF INCORPORATION AND WEBSITE (www.comair.co.za) FOR FURTHER DETAILS. IF FOREIGN SHAREHOLDERS OR PROSPECTIVE INVESTORS ARE IN ANY DOUBT AS TO WHAT ACTION TO TAKE THEY SHOULD SEEK ADVICE FROM THEIR BROKER, ATTORNEY OR OTHER PROFESSIONAL ADVISER.