BARLOWORLD LIMITED - Engagement with shareholders with regards to Barloworld's remuneration implementation report

Engagement with shareholders with regards to Barloworld's remuneration implementation report

Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Income Tax Registration number 9000/051/71/5)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(JSE ISIN: ZAE000026647)
(Namibian Stock Exchange share code: BWL)
("Barloworld” or the “Company")


ENGAGEMENT WITH SHAREHOLDERS WITH REGARDS TO BARLOWORLD'S REMUNERATION IMPLEMENTATION REPORT


Shareholders are referred to the announcement dated Thursday, 13 February 2020 relating to the
results of voting at Barloworld's annual general meeting. The non-binding advisory resolution on the
endorsement of the remuneration implementation report was voted against by more than 25% of the
votes exercised. In terms of the recommendations of the King IV Report on Corporate Governance for
South Africa, 2016 and paragraph 3.84(j) of the JSE Limited Listings Requirements, shareholders are
hereby informed as follows:

• Barloworld believes that executive remuneration must align with shareholder value creation and
  believes that the group's key performance measure, which consists of monetary and non–monetary
  components ensures that the link between pay and performance is a direct one.

• The group therefore invites its shareholders to directly raise concerns or recommendations with the
  group chairman, Mrs Neo Phakama Dongwana, and the chairman of the group remuneration
  committee, Mr Michael Lynch-Bell, by a telephone conference to be held at 12:00 – 14:00 South
  African time on Wednesday, 18 March 2020.

• Shareholders who wish to participate in the telephone conference are requested to contact the
  Group Company Secretary, Ms Andiswa Ndoni, at the telephone number or email addresses
  provided below, by 17:00 on Monday, 16 March 2020, to obtain further details of the telephone
  conference.

• Shareholders are further invited to forward their concerns or questions on the remuneration
  implementation report to the Group Company Secretary in writing by close of business on Friday,
  13 March 2020.

Enquiries:

Andiswa Ndoni – Group Company Secretary
+27 11 445 1169
E-mail: Andiswan@barloworld.com with a copy to
invest@barloworld.com

Sandton

21 February 2020



Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 21-02-2020 10:00:00
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