KOMATI BASIN WATER AUTHORITY - KOBWA - Appointment of Finance Director and Notification of Change in Debt Officer

KOBWA - Appointment of Finance Director and Notification of Change in Debt Officer

Komati Basin Water Authority
Established in terms of the Treaty on the Development and Utilisation of Water Resources of the
Komati River Basin
ISIN Code: ZAG000016296
(“KOBWA” or “the Issuer”)


APPOINTMENT OF FINANCE DIRECTOR AND NOTIFICATION OF CHANGE IN DEBT OFFICER


Further to the announcement released on SENS on 6 May 2026 regarding the appointment of Ms Futhi
Kunene ("Ms Kunene") as Acting Finance Director on an interim basis, and as KOBWA’s Debt Officer, in
compliance with paragraph 6.42 of the Debt and Specialist Securities Listings Requirements ("DSS
Requirements") of the JSE, noteholders are hereby advised that:

-   Ms Lethuxolo Chrissy-Ane Siyabulela Mdaka ("Ms Mdaka") has been appointed as Finance Director
    of KOBWA, replacing Ms Kunene as Acting Finance Director, with effect from 17 September 2026,
    notwithstanding that she will not be appointed as a member of the Board.

    The appointment was made pursuant to the Issuer's Board Nomination and Appointment Policy (as
    published on (www.kobwa.co.za/about/docs/KOBWA_Board_Nomination.pdf).

    Ms Mdaka is a Chartered Accountant (South Africa) registered with SAICA, with a career spanning
    external audit and corporate financial management. She completed her SAICA training contract with
    PricewaterhouseCoopers, where she progressed to Assistant Manager and gained extensive
    experience in statutory, regulatory and public sector audits.

    Since October 2025, she has served as Financial Accountant at TWK Agri (Pty) Ltd, with responsibility
    for financial reporting, budgeting and forecasting, tax compliance and internal controls.

    Her expertise in audit, financial management and compliance positions her well to fulfil the role of
    Finance Director of KOBWA.

-   Further to the above, Ms Mdaka has been appointed as Debt Officer of KOBWA, replacing Ms Kunene,
    with effect from 17 September 2026.

    The Board has considered and is satisfied with the competence, qualifications and experience of the
    new Debt Officer.

    The contact details of the Debt Officer are as follows:
    Email:           lethuxolo.mdaka@kobwa.co.za
    Telephone:       +27 79 179 4046

The Board, together with the Joint Water Commission, welcomes Ms Mdaka and looks forward to her driving
KOBWA’s strategic objectives, and ultimately transforming the transboundary water sector for the benefit
of all its stakeholders.

Piggs’ Peak, Eswatini
17 September 2026

Debt Sponsor
Merchantec Capital
Date: 17/09/2026 03:20:00
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