Change in Chief Executive and Board responsibility Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 Share code: AEN ISIN: ZAE000191359 (“Altron” or “the company”) CHANGE IN CHIEF EXECUTIVE AND BOARD RESPONSIBILITY In accordance with Section 3.59 of the JSE Listings Requirements and in line with Altron’s publicly announced strategy to move from a family controlled and managed business to an independent management structure, the Altron Board is pleased to announce to shareholders the appointment of Mr Mteto Nyati as Altron Chief Executive from latest 1 July 2017. Mr Nyati has served as Chief Executive Officer of MTN South Africa since July 2015 and previously held executive positions at IBM and Microsoft South Africa. Mr Nyati holds a BSc in Mechanical Engineering from the University of KwaZulu-Natal. Shareholders are further advised that after 27 years with the Altron group and 16 years as Chief Executive, Mr Robbie Venter will step down as Altron Chief Executive in due course. Mr Venter will remain on the Altron Board as a non-executive director to continue to provide his wealth of knowledge and experience to the company. The Altron Board would like to take this opportunity to thank Mr Venter for the positive contribution he has made to Altron over the past 27 years and welcomes Mr Nyati in the role of Altron Chief Executive. Johannesburg 7 March 2017 Sponsor Investec Bank Limited Date: 07/03/2017 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.