The SPAR Group Ltd. announced that Dr. Phumla Mnganga will be stepping down as an independent non-executive director of the Board, immediately upon conclusion of the Board meeting to be held on 14 February 2023, after serving as a director for 17 years; Mr. Graham O'Connor, a non-executive director of the Board, who is due to retire at the upcoming annual general meeting of Shareholders to be held on 14 February 2023, does not intend to make himself available for re-election to the Board and will therefore retire at the conclusion of the 2023 AGM; Dr. Shirley Anne Zinn and Mr. Pedro Manuel Pereira da Silva, are appointed as independent non- executive directors of the Board, effective immediately following the 2023 AGM. Mr. da Silva holds a Degree in Economics from Nova University in Lisbon and completed the Advanced Management Program at the Harvard Business School and the Program for Executive Development at IMD, Lausanne. He is currently Global Retail Advisor, board member at the Portuguese Diaspora Council in Lisbon and previously held various executive leadership positions in South Africa as Managing Director of Pick n Pay Retail and internationally as President of the Management Board and CEO of CEPD N.V (the retail holdings of the Pelion Group) and President of Dixy Group (the third largest Russian national food retailer).

Mr. da Silva also previously held various executive positions in the foreign listed entity, Jeronimo Martins Group, as Chief Operating Officer (COO): Country Manager for Portugal, Poland, Colombia; and before that as CEO of its Polish subsidiaries, Biedronka Discount Stores, Jeronimo Martins Dystrybucja for 10 years. Mr. da Silva is expected to contribute entrepreneurship, sustainable dynamic growth strategies, retail and international retails skills to the Board. Dr Zinn holds a Bachelor of Arts Degree, a Post Graduate Higher Diploma and a master's degree in Education from the University of the Western Cape; and an Honours degree in Education from UNISA.

She later obtained a further master's degree and a Doctorate in Education from Harvard University. She was the Group Head of Human Resources at Woolworths Holdings Limited, and the Head of Human Resources at Standard Bank of South Africa. Dr. Zinn currently serves on the boards of listed entities including Sanlam Limited and Sanlam Life Insurance Limited (also Chair of the Human Resources and Remuneration Committee); and Spur Corporation Limited (also Chairs the Remuneration and Nominations Committee).

She also serves as an independent non-executive director of MTN South Africa (Pty) Ltd. and also chairs their HR, Remuneration and Social and Ethics Committee. Dr. Zinn is also the Chair of the V&A Waterfront in Cape Town. She has served on various other boards including Shoprite Holdings Limited (Lead Independent Director) and the Institute of Bankers (Chair).

Dr. Zinn is expected to contribute people, leadership, culture and HR skills to the Board. Mr. Brett Botten will be retiring as member of the Board on 31 January 2023. Mr. Botten's retirement is pursuant to his request to the Board for an early retirement.