KAP LIMITED - Change To The Board: Appointment Of Chief Financial Officer

Change To The Board: Appointment Of Chief Financial Officer

KAP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Share code: KAP
ISIN: ZAE000171963
Company Alpha Code: KAP
LEI code: 3789001F51BC0045FD42
("KAP" or the "Company")

CHANGE TO THE BOARD: APPOINTMENT OF CHIEF FINANCIAL OFFICER ("CFO")

In accordance with the JSE Listings Requirements and the Debt and Specialist Securities Listings
Requirements, shareholders and noteholders are advised of the following change to the Company's board of
directors ("Board").

The Board is pleased to announce the appointment of Dries Ferreira as CFO, with effect from 1 February 2026,
filling the vacancy in the CFO position following the appointment of Frans Olivier (who was the CFO until
31 October 2025) as Chief Executive Officer ("CEO") of the Company from 1 November 2025.

Dries, a qualified Chartered Accountant (SA), is an experienced JSE-listed company CFO, having most recently
fulfilled the CFO role at Astral Foods Ltd. He is a seasoned executive with over two decades of experience in
the industrial and agribusiness sectors and has broad commercial experience in financial strategy and planning,
capital allocation and international trade.

The Board welcomes Dries and is looking forward to working with him. His background and experience will play
a key role in the financial success of the Company, and a strong pillar of support to Frans as the new CEO.

The Company confirms that the appointment was made in accordance with the Board nomination policy.

Stellenbosch

31 October 2025

Equity and Debt Sponsor
PSG Capital

Date: 31-10-2025 12:30:00
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