Conduit Capital : Changes to the Board of Directors - Resignation of Chief Executive Officer

CONDUIT CAPITAL LIMITED

Incorporated in the Republic of South Africa

(Registration number 1998/017351/06)

Share code: CND ISIN: ZAE000073128

("Conduit Capital")

CHANGES TO THE BOARD OF DIRECTORS - RESIGNATION OF CHIEF EXECUTIVE OFFICER

In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of Conduit Capital ("the Board") hereby notifies its shareholders that:

• Conduit Capital has evolved into a diversified niche insurance investment holding company, with substantially all of its assets being its 100% ownership of the Constantia Group of insurance companies ("Constantia"). As a result, the affairs of Conduit Capital are mostly the affairs of Constantia.
• Mr Peter Todd, a proven leader identified by Conduit Capital some years ago, is the Chief Executive Officer ("CEO") of Constantia. Mr Todd has fulfilled the role of CEO of Constantia since February 2020.
• The Board is of the view that, in order to streamline the business, and create a delegated platform for Mr Todd to successfully conclude negotiations with investors (refer to the SENS announcement dated 21 June 2022), it makes sense for Mr Todd to assume the role of CEO of Conduit Capital, on an interim basis, in addition to his existing role as CEO of Constantia given the overlap.
• Mr Sean Riskowitz has therefore resigned from the Board and from his role as CEO with effect from Thursday, 21 July 2022.
• Consequently, Mr Riskowitz has also resigned from his directorships of the Constantia Group of companies.

The Board would like to express its gratitude to Mr Riskowitz for planting the seeds of the new Constantia over the last seven years, and for his valuable contribution as an executive and director of Conduit.

Johannesburg

22 July 2022

Sponsor

Merchantec Capital