Early retirement of chief executive officer and strengthening of Metair management structure Metair Investments Limited (Incorporated in the Republic of South Africa) (Registration number 1948/031013/06) ISIN: ZAE000090692 Share code: MTA (“Metair” or the “Company”) EARLY RETIREMENT OF CHIEF EXECUTIVE OFFICER AND STRENGTHENING OF METAIR MANAGEMENT STRUCTURE In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, Metair shareholders (“Shareholders”) are hereby advised that Mr CT Loock has decided to take early retirement and will accordingly step down as Chief Executive Officer (“CEO”) of Metair, and Chairman and non-executive director of all local and international Metair subsidiaries and associated companies with effect from 31 December 2020. Mr Loock has been the CEO of Metair for close to fifteen years and spearheaded the development and successful implementation of Metair’s transformation and globalisation strategy. Under his capable guidance, the Company attained many milestones and established itself as a leader in the automotive component and energy storage segments of the market. Metair's Covid-19 response strategy which includes an ambitious recovery plan with growth opportunities, requires the strengthening of the Metair leadership and management structure. This timeous announcement of Mr Loock's retirement allows seven months for the Company to recruit the best replacement CEO. The group structure will be strengthened with the appointment of a Chief Operating Officer (COO). The recruitments will be conducted by a professional executive search agency and both internal and external candidates will be considered. Shareholders will be advised as soon as a new CEO has been appointed. To ensure a seamless hand over to the new CEO, continuity with the implementation of the Covid-19 recovery plan and to facilitate the smooth transition of relationships with key customers and technical partners, the Company and Mr Loock are contemplating an arrangement whereby Mr Loock would provide consultancy services to the Company following his retirement. The board of directors of Metair (the “Board”) is of the view that the retention of Mr Loock’s extensive automotive industry experience and technical expertise for a certain period, will benefit Metair stakeholders. For the avoidance of doubt, such an arrangement is yet to be agreed formally between Metair and Mr Loock. Shareholders will be advised should an agreement between the parties be reached. The Board would like to sincerely thank Mr Loock for his exemplary leadership and valuable contribution to the Company over the years and wishes him well in his future endeavours. Johannesburg 28 May 2020 Sponsor One Capital Date: 28-05-2020 01:58:00 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.