Ellies : Changes to the board of directors

ELLIES HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2007/007084/06)

JSE share code: ELI ISIN: ZAE000103081 ("Ellies" or the "Company")

CHANGES TO THE BOARD OF DIRECTORS

The board of directors of Ellies (the "Board") is pleased to advise that Ms Maya Makanjee and Ms Sedzani Faith Mudau have been appointed as independent non-executive directors of the Company with effect from 1 July 2022. In addition, Ms Makanjee has been appointed to the Remuneration Committee and the Nomination Committee, and Ms Mudau to the Audit and Risk Committee and the Social and Ethics Committee.

Ms Makanjee holds a Master's degree in Business Leadership from Unisa graduating cum laude, as well as a Bachelor of Commerce from the University of KwaZulu Natal and a Bachelor of Fine Arts from the University of Mumbai. She has also completed numerous management and leadership programmes at Harvard and Stanford in USA and at IMD in Switzerland. At present, she chairs the board of a JSE-listed global IT products and services company, and is a director of a listed packaging company and a South African fashion retailer. Ms Makanjee also serves on the board of the Nelson Mandela Foundation. She is a previous director of a national food company as well as a South African mobile network operator, and has gained experience across a number of areas in various industries, having held executive director positions in financial services, human resources, marketing communication, corporate affairs, strategy and business re-engineering.

Ms Mudau CA(SA) is a Certified Director and holds a MBA from the University of the Witwatersrand. In addition, she has completed multiple management development programmes at both the University of the Witwatersrand and through UNISA. She currently serves as the managing director of Favest Advisory Proprietary Limited, and has also held numerous non-executive roles at both state-owned enterprises and within the private sector. Ms Mudau has a wealth of knowledge within the business turnaround, process improvement, financial management, risk management and transaction advisory sectors, and has in addition both served on audit and risk committees and chaired such committees in the past.

The Board welcomes Ms Makanjee and Ms Mudau as directors of the Company, and looks forward to their contribution.

1 July 2022

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