INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - Changes to the Board

Changes to the Board

Industrial Development Corporation of South Africa Limited
Incorporated in the Republic of South Africa)
Registration No. 1940/014201/06)
Bond Issuer code: IN02
("IDC") (the "Issuer") (the
"Corporation")


CHANGES TO THE BOARD


In terms of paragraph 6.42 of the JSE Limited Debt and Specialist Securities Listings Requirements ("DSS
Requirements"), noteholders are hereby advised that Dr Tebogo Makube ("Dr Makube") has been appointed
to the board of directors of IDC (the "Board") for a period of three years effective from 1 October 2025 to 30
September 2028 as an additional member to augment the skills of the Board.


The appointment of Dr Makube was made pursuant to the Issuer's policy dealing with the nomination of directors
and is in accordance with the provisions of the Industrial Development Corporation Act No. 22 of 1940, as
amended, relating to the composition and size of the Board.


The Board welcomes Dr Makube and looks forward to his valuable contribution to the Corporation.


Johannesburg
13 November 2025


Debt Sponsor
The Standard Bank of South Africa Limited

Date: 13-11-2025 02:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.