ZEDER INVESTMENTS LIMITED - Change to the Board of Directors

Change to the Board of Directors

ZEDER INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2006/019240/06)
Share code: ZED
ISIN: ZAE000088431
LEI: 37890022AF5FD117D649
Main Board – General Segment
("Zeder" or "the Company")

CHANGE TO THE BOARD OF DIRECTORS

Shareholders are referred to the Company's announcement dated 3 February 2026, regarding the sale
of its shareholding in Zaad Holdings Proprietary Limited. Given the various disposals over recent years
of the majority of the Company's investment portfolio, Zeder's board of directors ("Board") has reviewed
the Company's management function and decided to restructure it to take account of the reduced
operational requirements. In this regard, the Board and Johann le Roux ("Johann") have agreed that
he will step down as Zeder's chief executive officer ("CEO") and financial director ("FD") with effect from
28 February 2026. He will however remain on the Board as a non-executive director.

Johann joined Zeder twelve years ago and was appointed as FD in September 2016 and as CEO in
April 2021. He has been instrumental in driving the Board's strategy over the past five years to maximise
shareholder returns. The various successful disposals over this period have allowed significant value
to be unlocked for shareholders through numerous special dividends and an unbundling.

The Board wishes to thank Johann for his leadership and efforts over his tenure at Zeder and wishes
him well with his future endeavours.

Dries Mellet ("Dries") has been appointed as Zeder's FD and acting CEO with effect from 1 March 2026.
Dries is a Chartered Accountant (SA) and brings experience across both listed and unlisted
environments to his appointment at Zeder. He has a strong understanding of the South African listed
landscape, strengthened through his tenure as a director of two JSE-listed companies that were later
delisted. He began his career at PwC, whereafter he joined the PSG Group investment team.

The Board is confident that Dries is adequately qualified to lead Zeder during this phase of its strategy.

Stellenbosch
4 February 2026

Sponsor                                     Independent Joint Sponsor
PSG Capital                                 BSM Sponsors

Date: 04-02-2026 12:00:00
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