Accelerate Property Fund Limited appointed Mr. TT Mboweni as an independent non-executive director and Chairman of Accelerate, effective 1 February 2022. Mr. TJ Fearnhead will step down as Chairman on the same date, due to the appointment of Mr. Mboweni. Securityholders are further advised that Mr. JF van der Merwe has been appointed as the lead independent non-executive director of Accelerate and Mr. J Templeton has been appointed as a non-executive director of Accelerate, both appointments effective 1 April 2022.

In addition, the following changes to the board committees also effective 1 February 2022 will occur: Mr. TT Mboweni and Mr. JF van der Merwe will be appointed to the Nomination Committee. Mr. TT Mboweni will chair the committee. Mr. TJ Fearnhead and Mr. J Templeton will be appointed to the Audit and Risk Committee.

Mr. TT Mboweni and Mr. JF van der Merwe will be appointed to the Remuneration Committee. Mr. AM Mawela will chair the committee.