Board and committee composition changes – Chief Executive to step down

Board and committee composition changes – Chief Executive to step down

ALTRON LIMITED
Registration number 1947/024583/06
Incorporated in the Republic of South Africa
Share code: AEL ISIN: ZAE000191342
(“Altron” or “Group” or “the Company”)

BOARD AND COMMITTEE COMPOSITION CHANGES – CHIEF EXECUTIVE TO STEP DOWN

In terms of paragraph 3.59 of the JSE Listings Requirements, the Company advises that Mr. Mteto
Nyati will be stepping down from his role as Chief Executive effective 30 June 2022. This decision was
informed by Mr. Nyati’s impending completion of a five-year term with the Altron Group and following
his successful contribution to the increase of shareholder value by approximately six-times during his
tenure. Mr. Nyati will be stepping down from the Altron Board, its subsidiaries and its Committees
effective from 30 June 2022.

The Altron Board would like to extend its sincere gratitude to Mr. Nyati for his visionary and
inspirational leadership, his contribution to Altron and its shareholders, and looks forward to the
continued contribution during his remaining term with the Group. Additionally, the Board wishes
Mr. Nyati well in all his future endeavours.

Altron’s Nomination Committee have commenced a process to identify and appoint a successor to
Mr. Nyati and shareholders will be notified of the successor once the recruitment process has been
finalised.

Johannesburg
11 January 2022
Sponsor: Investec Bank Limited

Date: 11-01-2022 02:05:00
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