The board of directors of Novus Holdings Limited notifies its shareholders of the following: Mr. Neil Birch has confirmed his intention to retire as Chief Executive Officer ("CEO") and executive director of the Group during the course of 2023, which is in line with the Novus retirement policy. Neil, who joined the Group in 2017 as the non-executive Chairman, stepped into the CEO role in May 2018 and has effectively executed his promised strategy, specifically playing a pivotal role in the restructuring of the Company to be fit for purpose. Neil has also been central in the negotiation, closing and integration planning of the recent acquisition of the Pearson SA business as announced on SENS, and has committed to continue to oversee the integration process to the extent required.

Dr. Phumla Mnganga, Chairman of the Board and independent non-executive director, has been considering and reviewing her listed board portfolio for some time and accordingly, has indicated her intention to step down from the Board with effect from the financial year ending 31 March 2023 to balance her commitments. Ms Noluvuyo (Nono) Mkhondo, non-executive director, who has served on the Board since December 2017 following Value Capital Partners' ("VCP") investment in Novus, has similarly indicated her intention to step down from the Board with effect from the financial year ending 31 March 2023 to balance her commitments. VCP will remain invested in Novus as a significant minority shareholder.