Changes to the board of directors ELLIES HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2007/007084/06) JSE share code: ELI ISIN: ZAE000103081 ("Ellies" or the "Company") CHANGES TO THE BOARD OF DIRECTORS The board of directors (the "Board") is committed to turning around the Company with the focus on optimising and enhancing current profitability for all shareholders. In this regard the Board has reconstituted and appointed a number of respected and experienced new members with effect from 4 April 2019. Francois Olivier, a portfolio manager at Mazi Asset Management Proprietary Limited has been appointed as a non-executive director. Mr Olivier has 19 years of investment research and portfolio management experience, six years of which were spend in the USA. He is a chartered accountant and CFA charter holder. Edward Raff has been appointed as a non-executive director. He has extensive financial and commercial experience and previously worked in investment banking, most recently at Rothschild & Co. Prior to this he served as a senior executive in corporate finance at AngloGold Ashanti for almost 10 years. Mr Raff holds a B Comm, BSc Honours in Advanced Mathematics of Finance, H Dip Tax, H Dip Man and has completed all 3 CFA levels. Timothy Fearnhead has been appointed as a non-executive director and chairman of the Board. Mr Fearnhead is a chartered accountant and was a partner at Deloitte for over 20 years. He served in various executive roles within the Nedbank group between 1997 to 2006 and currently serves as an independent non-executive director to two listed companies. The CEO, Dr. Shaun Prithivirajh has been reappointed as an executive director. Christiaan Booyens the current interim chief financial officer ("CFO"), has been appointed as an executive director and will continue as the CFO. Mr. Elliott Salkow ("Ellie") will take on a non-executive director role on the Board and will relinquish fulltime duties at the Company. The Company is grateful to Ellie for his invaluable contribution and looks forward to his strategic guidance at board level going forward. Shareholders are advised that all above director appointments will be submitted to shareholders for approval at a general meeting. The notice of meeting will be delivered to shareholders in due course The Board welcomes the new directors and looks forward to their contribution to the Company. 5 April 2019 Sponsor Java Capital Date: 05/04/2019 01:00:00 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.