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IN02 - Changes to the Board Committees
Industrial Development Corporation of South Africa Limited
Incorporated in the Republic of South Africa)
Registration No. 1940/014201/06)
Bond Issuer code: IN02
("IDC") (the "Issuer") (the
"Corporation")
CHANGES TO THE BOARD COMMITTEES
We refer to the announcement published on SENS on 17 October 2025 regarding changes to the Issuer's
statutory committees. Pursuant to paragraph .42(c) of the JSE Limited Debt and Specialist Securities Listings
Requirements ("DSS Requirements "), noteholders are hereby advised of the reconfigurations of the IDC Board
Audit Committee ("BAC") and the Board Social and Ethics Committee ("BSEC") following the recent
appointments to the Board of IDC, with effect from 19 November 2025. These changes to the BAC and BSEC
have been made in compliance with the provisions of the Companies Act, the IDC's governance framework and
the King IV Report on Corporate Governance for South Africa, 2016 (King IV), as amended.
The following members have been appointed to BAC:
Board Member Designation
Ms Tryphosa Ramano Chairperson
Mr Reon Barnard Non-Executive
Mr Brian Dames Non-Executive
Mr Patrick Mathidi Non-Executive
Mr Roger Pitot Non-Executive
Noteholders are further advised on the appointment of the below mentioned persons to the IDC's Social and
Ethics Committee ("BSEC") due to mandatory board rotation. Non-executive directors are appointed as
members of the SEC in accordance with section 72 of the Companies Act and Regulation 43, as amended.
Board Member Designation
Ms Ayanda Dlodlo Chairperson
Ms Tanya Cohen Non-Executive
Dr Keitumetse Mothibeli Non-Executive
Mr Brian Dames Non-Executive
The above changes to the composition of the respective board Committees have been made in line with the
IDC's commitment to maintaining robust governance structures and ensuring that its statutory committees are
well equipped to fulfill their fiduciary responsibilities.
The board welcomes the new appointments and looks forward to their valuable contributions to the Corporation.
Johannesburg
21 November 2025
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 21-11-2025 05:10:00
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