AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Appointment of Chief Financial Officer Appointment of Chief Financial Officer Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron") APPOINTMENT OF CHIEF FINANCIAL OFFICER In terms of paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are advised that Mr Cedric Miller has been appointed as Chief Financial Officer ("CFO") and executive director of Altron, with effect from 1 May 2019. Mr Miller is a qualified CA (SA) and CFP, and holds an advanced certificate in Taxation. He has been a member of a number of board and executive committees within the Standard Bank Group, has a strong commercial acumen and a proven record of delivering insights into strategy implementation and executive decision-making in high performance teams. Mr Miller´s most recent capacity in the Standard Bank Group has been as CFO for Personal and Business Banking (Global). Previously, Mr Miller was the CFO for the Global Investment Banking division within Standard Bank and has also occupied the position of Chief Operations Officer ("COO") of Standard Bank´s subsidiary in Argentina. Following Mr Miller's appointment, Mr Andrew Holden, the Altron Group COO, will step down as acting CFO, with effect from 30 April 2019. The Board expresses its appreciation to Mr Holden for assuming this additional role over the past number of months. The Board furthermore welcomes Mr Miller to his new role and looks forward to his contribution to the Altron Group. Johannesburg 14 March 2019 Sponsor Investec Bank Limited Date: 14/03/2019 09:00:00 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.