Appointment of Group Chief Executive Officer and changes to director’s executive responsibilities ELB GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 1930/002553/06) ISIN: ZAE000035101 JSE Code: ELR (“ELB” or “the Company”) APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER AND CHANGES TO DIRECTOR’S EXECUTIVE RESPONSIBILITIES In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are advised of the following changes to the board of directors of ELB (“Board”) with immediate effect. The Board is pleased to announce the appointment of Mr Charles Pettit as ELB Group Chief Executive Officer. Mr Pettit’s initial responsibilities will be to review the suitability of the current Group structure and to arrange a recapitalisation of the Group following the recent losses that occurred on the Gamsberg Project. Charles will also be free to identify any acquisitions he feels may be compatible with ELB’s current product offering. The Board further announces that Dr Stephen Meijers will step down as Group Chief Executive Officer but remains CEO of ELB Engineering Services. In addition, Peter Blunden remains CEO of ELB Equipment and Christopher Malan as CEO of ELB Equipment Australia. The Board welcomes Charles into the ELB family with its full support. Johannesburg 5 December 2019 Sponsor Questco Corporate Advisory Proprietary Limited Date: 05-12-2019 04:50:00 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.