Capricorn Group Limited

(Incorporated in the Republic of Namibia) (Date of Registration: 5 September 1996) (Registration Number: 96/300)

Share code: CGP ISIN: NA000A1T6SV9 ("Capricorn Group")

UPDATE TO CEO APPOINTMENT

As per the NENS announcement published on 15 November 2023, the Capricorn Group Board is pleased to announce the appointment of Mr. David Nuyoma as the substantive Group CEO with effect from 1 March 2024, following regulatory approval and the successful conclusion of a leadership transition and induction programme which commenced on 1 January 2024 following his appointment as Group CEO designate.

The Chairperson of Capricorn Group, Mr. Fourie, welcomed Mr. Nuyoma into his new role on behalf of the Capricorn Group board, management and staff and said: "With immense pleasure, I extend a warm Capricorn welcome to Mr. David Nuyoma, who officially takes over as the Group's new Chief Executive Officer on 1 March. David is widely recognised as one of Namibia's most esteemed business leaders, and his journey is marked by a history of exemplary leadership, strategic insight, and a commitment to driving economic growth through contributions to both the public and private sectors. His notable career includes serving as the CEO of the Government Institutions Pension Fund (GIPF) until recently and, before that, as the CEO of the Development Bank of Namibia. This rich experience positions him as the ideal leader for our financial services group, especially at this crucial stage of our journey", commented Gerhard Fourie, Chairperson of the Capricorn Group Board.

Mr. Fourie also extended the Capricorn Group board, management and staff's sincere gratitude and appreciation to Mr. Thinus Prinsloo for his valuable contribution to the growth and success of the Capricorn Group during his tenure as Group CEO since 2016. He wished him the very best for the future as he takes up his new role at Capricorn Investment Holdings, the largest shareholder of Capricorn Group.

By order of the Board

Windhoek

29 February 2024

Sponsor on the Namibian Stock Exchange

Sponsor on the Botswana Stock Exchange

PSG Wealth Management (Namibia) (Pty) Ltd

Imara Capital Securities (Pty) Ltd

Member of the Namibian Stock Exchange

A Member of the Botswana Stock Exchange

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Capricorn Group Ltd. published this content on 04 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2024 06:34:10 UTC.