Premier Group Limited announced that Mr. Corrie Roodt has elected to resign as Chairman of the Premier Board of Directors (Board) with effect from and following the conclusion of the Company's Annual General Meeting (AGM) to be held on Tuesday, 5 September 2023. Mr. Roodt successfully chaired the Company and ushered it into its new listed phase and will for continuity and to ensure an effective succession process, remain an independent, non-executive director of the Board until 31 March 2024 (i.e.: until the end of the Company's current financial year). Mr. Iaan van Heerden, currently a non-executive director, has been appointed as the new Chairman of the Board with effect from the conclusion of the AGM.

Mr. van Heerden has been an important and integral part of the Board since his appointment in June 2021 and the Company is confident that he will ably lead the Board in the future. In compliance with King IV and paragraph 3.84(b) of the JSE Listings Requirements, Ms. Faith Khanyile, currently an independent non-executive director, has been appointed as the Company's Lead Independent Director. This appointment will similarly take effect from the conclusion of the AGM.

In addition, Mr. Rolf Hartmann has informed the Board that he will not make himself available for re-election at the AGM and will accordingly resign as a director of the Board with effect from the conclusion thereof. Following his resignation from the Board, he will simultaneously resign as a member of the Audit and Risk and Social and Ethics Committees, and as the Chair and a member of the Remuneration and Nomination Committee. Mr. Hartmann has served on the Board for a period of 16 years and has made an important and significant impact on Premier.

RECONSTITUTION OF BOARD COMMITTEES: Pursuant to the above, and with effect from the conclusion of the AGM, the following changes have been made to the composition of Board committees: - Ms. Faith Khanyile has been appointed as a member of the Social and Ethics Committee; and - Mr. Jonathan Matthews has been appointed as the Chairman and a member of the Remuneration and Nomination Committee. The Board committees will therefore be reconstituted as follows: Audit and Risk Committee: Mr. Harish Ramsumer (Chairman); Ms. Faith Khanyile; Mr. Jonathan Matthews. Social and Ethics Committee: Mr. Wandile Sihlobo (Chairman); Ms. Faith Khanyile; Mr. Jonathan Matthews.

Remuneration and Nomination Committee: Mr. Jonathan Mattews (Chairman); Mr. Corrie Roodt; Mr. Iaan Van Heerden.