AVENG LIMITED - Changes to executive management, resignation of directors and appointment of chairman

Changes to executive management, resignation of directors and appointment of chairman

AVENG LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1944/018119/06)
ISIN: ZAE000302618
SHARE CODE: AEG
("Aveng" or "the Group")


CHANGES TO EXECUTIVE MANAGEMENT, RESIGNATION OF DIRECTORS AND APPOINTMENT OF CHAIRMAN

Changes to executive management

Shareholders are referred to the Company’s previous SENS announcement on 16 January 2026,
regarding the permanent appointment of its Group Chief Executive Officer (“CEO”) role.

In compliance with paragraph 6.71 of the Listings Requirements of the JSE Limited (“Listings
Requirements”), the Board of Aveng (“Board”), through its Remuneration and Nomination Committee
and with the support of an executive search firm, conducted a rigorous selection process to identify the
most suitable candidate to lead the Company through its next phase. The Nominations Committee
considered a number of strong internal and external candidates.

The Board is pleased to announce the appointment of Mr. Fraser Wyllie, as CEO designate of the
Company. Fraser will assume his role as CEO and will be appointed as a director of the Company with
effect from 1 October 2026.

Fraser is a highly experienced civil engineer with over 30 years of civil contracting experience in the UK
and New Zealand. He joined McConnell Dowell as Managing Director New Zealand and Pacific Islands
in July 2017 following similar roles at other New Zealand based civil contractors. On joining, he
undertook a significant turnaround of underperforming projects. He has since that time grown the
business into a highly effective and profitable business.

Over the past 3 years his business unit has had no loss-making projects. In the previous year, the New
Zealand business unit has worked successfully on two projects with the Australian business unit
providing transfer of skills in the water and wastewater sector where the New Zealand team has strong
expertise.

Fraser holds a Bachelor of Engineering (Civil) from the University of Auckland and a Master of Business
Administration from Massey University. He is a Chartered Engineer and an active Member of the
Institute of Directors (New Zealand). Fraser is a director of Horizon Energy Group and serves as the
Chair of Infrastructure New Zealand.

The Board congratulates Fraser on his appointment and looks forward to working with him.

Resignation of directors

Shareholders are referred to the Company’s previous SENS announcement on 4 June 2026, noting the
intended retirement from the Board of Mr. Philip Hourquebie and Mr. Nicolas Bowen. These retirements
form part of a broader Board refresh programme. Both Philip and Nick retired from the Board on 21
August 2026.

Philip joined the Board in August 2015 and has served variously as an independent non-executive
director, Chairman of the Audit Committee and Chairman of the Board during some particularly trying
periods. The Board wishes to thank Philip for his contributions and leadership over the years.

Nick joined the Board in July 2023 and has chaired the Risk and Health and Safety Committees. The
Board would like to express its thanks to Nick for his contributions in both these areas over the last
years.
Appointment of Chairman

Following the resignation of Philip from the Board, Mr. Graeme Bevans has been appointed as
Chairman with effect from 21 August 2026.


24 August 2026
Boksburg, South Africa


JSE Sponsor
Valeo Capital (Pty) Ltd

Edinah Mandizha
Company Secretary
Tel: 011 779 2800
Email: Edinah.mandizha@avenggroup.com
Date: 24/08/2026 05:05:00
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