Changes to the Board

THE SPAR GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/001572/06)
JSE Code: SPP
ISIN: ZAE000058517
(“SPAR”, “Company” or the “Group”)

CHANGES TO THE BOARD

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, SPAR shareholders are
hereby advised of the following changes to the board of directors of the Company (“Board”), which will
be effective from 1 March 2021.

As previously advised in the 2019 integrated annual report and the announcement published on SENS
on 23 December 2019, Mr Graham O’Connor, the group chief executive officer (“Group CEO”) and Mr
Mike Hankinson, the chairman of the Board, will be retiring at the annual general meeting that will be
held in 2021. Accordingly, the Board has resolved to appoint:

•   Brett Botten, the current Managing Director of SPAR South Rand as the Group CEO;
•   Graham, as a non-executive director and chairman of the Board; and
•   Andrew Waller, an independent non-executive director, as the lead independent director of the
    Board.

Brett is a qualified Chartered Accountant (South Africa) and holds a BCom Accounting degree from
University of Port Elizabeth. He joined the Group in 1994 and is the current Managing Director of SPAR
South Rand division, a position which he held since 2010, and a member of the SPAR Guild of Southern
Africa. Brett has also previously served as the Managing Director of SPAR North Rand, SPAR Lowveld
and SPAR Eastern Cape divisions.

As a result of Brett’s appointment as Group CEO, Mr Desmond Borrageiro, Managing Director of SPAR
North Rand division, will replace Brett as Managing Director of SPAR South Rand division. Jerome
Jacobs, Marketing Executive of SPAR South Rand division, will replace Desmond as Managing Director
of SPAR North Rand division.

The Board would like to thank Mike for his stellar service and steadying hand at the helm since he was
first appointed to the Board in September 2004. His guidance, sound leadership and strategic input has
helped the Group grow strongly over more than a decade and wish him well in his retirement.

Further thanks are extended to Graham for his tenure as Group CEO and member of the international
board for the past 6 years and the Board looks forward to working under his guidance as non-executive
chairman.

The Board would like to congratulate Brett, Andrew, Desmond and Jerome on their new roles and looks
forward to the value and input that they will bring to the Board and the Company.

Pinetown
4 September 2020

Sponsor
One Capital

Date: 04-09-2020 07:05:00
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