Change to the Board of Directors ELB GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 1930/002553/06) ISIN: ZAE000035101 JSE Code: ELR (“ELB” or “the Company”) CHANGE TO THE BOARD OF DIRECTORS In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are advised that Ms Buyisiwe Makhunga and Ms Refilwe Nkabinde have been appointed to the board of directors of ELB (“Board”) as independent non-executive directors with immediate effect. – Ms Buyisiwe Makhunga is a qualified Chartered Accountant (SA) and is a co-founder and executive director of Heritage Capital, a 100% black women owned private equity fund manager. She has eleven years investment banking experience working in the Investec Corporate Finance division in South Africa, where she gained specialist knowledge in Mergers & Acquisitions and Broad-Based Black Economic Empowerment transactions in a variety of sectors. Buyisiwe is an Archbishop Desmond Tutu Fellow and received the ABSIP Corporate Financier of the year award in 2013. - Ms Refilwe Nkabinde is a qualified Chartered Accountant (SA) and is currently the Chief Financial Officer for the Business Connexion Group (BCX), a wholly owned subsidiary of Telkom SOC, and serves as a non-executive director for other entities within the Business Connexion Group. She also serves as a non-executive trustee of the Diageo SA Empowerment trust. She was previously employed by Brandhouse Beverages Proprietary Limited, as the Finance and Strategy Director. Refilwe received the Business Connexion Aspire award for 2012 and was a top 5 finalist for the 2017 Standard Bank Rising Star Award, for the Information and Communications Technology sector. Buyisiwe has been appointed as a member of the Audit and Risk Committee and Refilwe as a member of the Social and Ethics Committee. The Board welcomes Buyisiwe and Refilwe and looks forward to their contributions to the Company. Johannesburg 24 November 2017 Sponsor Questco Corporate Advisory Proprietary Limited Date: 24/11/2017 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.