INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - Changes to the Board

Changes to the Board

Industrial Development Corporation of South Africa Limited
Incorporated in the Republic of South Africa)
Registration No. 1940/014201/06)
Bond Issuer code: IN02
("IDC") (the "Issuer") (the
"Corporation")

CHANGES TO THE BOARD

In terms of paragraph 6.42 of the JSE Limited Debt and Specialist Listings Requirements ("DSS
Requirements"), noteholders are hereby advised that the following persons have been appointed
("Appointees") to the board of the IDC ("Board") to address vacancies on the Board, thereby ensuring
continuity in governance and strategic oversight. The appointments are in accordance with the cabinet
announcement published on 16 October 2025.


 Board Member                                           Designation
 Ms Tryphosa Ramano                                     Non-Executive
 Mr. Andre Thomas Kriel                                 Non-Executive
 Ms Busi Mabuza                                         Non-Executive
 Mr Brian Dames                                         Non-Executive
 Adv. Thandi Orleyn                                     Non-Executive

Noteholders are further advised that, following recent changes to the composition of the Board, updates to its
statutory committees will be made. Further details regarding the statutory committees as well as the
commencement of the Appointees' term will be announced in due course.

The appointment of the directors was made pursuant to the Issuer's policy dealing with the nomination of
directors and is in accordance with the provisions of the Industrial Development Corporation Act No. 22 of 1940,
as amended, relating to the composition and size of the Board.

The Board welcomes the Appointees and looks forward to their valuable contributions to the Corporation.


Johannesburg
17 October 2025

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 17-10-2025 05:05:00
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