Changes to the Board of Directors – Change in Function and Appointment of Directors PSV Holdings Limited Incorporated in the Republic of South Africa (Registration number 1998/004365/06) Share code: PSV ISIN: ZAE000078705 ("PSV" or “the Company”) CHANGES TO THE BOARD OF DIRECTORS – CHANGE IN FUNCTION AND APPOINTMENT OF DIRECTORS Further to the change to the board of directors announcement dated 16 August 2019 and in compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of PSV (“the Board”) hereby notifies its shareholders of the following changes to the Board with effect from 5 September 2019: - Mr Aldworth Mbalati (“Aldworth”), currently an executive director, has been appointed as the executive chairman of the Board. - Mr Basil Kgaugelo Mashabane (“Basil”) has been appointed as lead independent non-executive director. Basil is an Admitted Attorney (High Court of South Africa, 2003) holding an LLB from the University of Pretoria and an MSc in Finance and Financial Law from the University of London. In addition to this he obtained an LLM in Corporate Law and an Advanced Certificate in Corporate and Securities Law from Unisa and is currently an LLD Candidate in Mercantile Law at Unisa. He has 15 years’ experience in litigation and corporate law with 8 of those years spent as Legal Counsel and more recently as the Deputy Executive Director of the Takeover Regulation Panel. - Mr Olivier Bernard (“Olivier”) has been appointed as a non-executive director. Olivier studied Business and Finance in Neoma (previously known as Reims Management School) in France, and a few years later studied Management at INSEAD. He gained experience with Blue Chip companies within the Oilfield Service Industry in various countries within Europe and Africa. From 2000 until 2016 he was a key member of the team developing the biggest onshore support base in sub Saharan Africa, based in Luanda (Angola), with a total investment of USD 1 billion. During this time, he assumed various positions, negotiating financing with international banks, implementing SAP (a German-based multinational software corporation that makes enterprise software to manage business operations and customer relations), and ultimately in the General Management of the company. He moved to Regis in 2017 to become the group COO. The Board welcomes Basil and Olivier and looks forward to their contribution to the Company. The reconstituted Board will advise on further appointments in order to fill committee vacancies and statutory requirements. Johannesburg 6 September 2019 Designated Adviser Merchantec Capital Date: 06/09/2019 05:10:00 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.