Capitec Bank Holdings Limited and Capitec Bank Limited advised that Ms CH (Cora) Fernandez, Prof SA (Stan) du Plessis and V (Vusi) Mahlangu have agreed to join the boards effective 25 September 2020. In addition, the boards hereby advise that Mr. K (Kabelo) Makwane has resigned from the boards and all the committees upon which he served as a member, effective 25 September 2020, to pursue other interests. Mr. JD (Jock) McKenzie (lead independent director and chairman of the risk & capital management committee) has advised the boards that he intends to retire from the boards and all the committees upon which he serves as a member on 28 May 2021. He will then have served 9 years on the boards and will no longer be deemed to be independent. The respective appointments of Cora, Stan and Vusi as independent non-executive directors will strengthen the independent element of the boards and support the continuous drive to augment board acumen and diversity. Cora serves on various boards including Sphere Holdings, Spur Corporation and Tiger Brands. She also serves on committees of 27Four Black Business Growth Fund, Allan Gray and the National Empowerment Fund. She previously served as chief executive: institutional business at Sanlam Investment Holdings, managing director of Sanlam Investment Management and chief executive officer of Sanlam Private Equity. Stan is chief operating officer and professor of economics at Stellenbosch University. Previous positions include economist at Prescient Securities and Old Mutual Asset Managers (UK). He is the chairman of the Bureau for Economic Research governance committee and a past president of the Economic Society of South Africa. Vusi is the co-founder and director of Tamela. He serves on the boards of Emira Property Fund, Cure Day Hospitals and Aon South Africa. Previous positions include chief executive officer (and co-founder) of Makalani Holdings, investment banker at Investec Bank and production manager at Afrox. Changes to board committees effective 28 September 2020: Cora Fernandez was appointed to the Audit Committee. Stan du Plessis and Vusi Mahlangu were appointed to the risk & capital management committee. Emma Mashilwane was appointed as chairman of the social & ethics committee.