AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Resignation of the Chief Financial Officer and Appointment of an Acting Chief Financial Officer Resignation of the Chief Financial Officer and Appointment of an Acting 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" or "Group" or "the Company") RESIGNATION OF THE CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR OF THE ALTRON BOARD AND APPOINTMENT OF AN ACTING CHIEF FINANCIAL OFFICER The Company announces that Mr. Cedric Miller, Altron´s Chief Financial Officer and executive director of the Altron Board has tendered his resignation on 31 May 2021. Mr. Miller´s notice of resignation applies to all his roles and responsibilities within the Altron Group and its affiliates, effective from 30 June 2021. Mr. Miller will continue to support the Group until 31 July 2021, during which time he will provide a comprehensive handover to Altron´s Acting Chief Financial Officer. The Board has accepted Mr. Miller´s resignation and would like to express sincere appreciation to him for his service and wish him well in his future endeavors. Mr. Nicholas Bofilatos (39) will assume the role of the Group´s Acting Chief Financial Officer effective from 1 July 2021. Mr. Bofilatos has held various positions within the Altron Group from 2019 with his most recent position held as the Finance Executive: Change Management for the Altron Group, Head of Central Finance. His prior positions include: CFO; FD and Company Secretary for Ctrack Holdings (Pty) Limited (Previously Digicore Holdings Limited) and; Senior Manager: Assurance at Ernst & Young. Mr. Bofilatos has over 15 years´ experience in finance leadership positions. Mr. Bofilatos holds a BCom from the University of Pretoria; BCompt Hons and Certificate in Theory of Accountancy from UNISA and he is a Chartered Accountant. The Board will notify the market of a permanent appointment of a Chief Financial Officer in due course. Johannesburg 31 May 2021 Sponsor: Investec Bank Limited Date: 31-05-2021 07:05:00 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.