SECRETARIAT REPORT

COMPANY SECRETARIAT REPORT

During the Federation’s 77th Annual General Meeting (AGM) held on 9 October 2020, the following Non-Executive Directors were elected to the SEIFSA Board:

• Ryan Haynes • Honey Mamabolo • Ernst Volschenk • Ntobeko Panya

The following Non-Executive Directors were reelected to serve on the SEIFSA Board:

• Alpheus Ngapo; • Nonhlanhla Ngwenya • Tumi Tsehlo

The following were elected President and VicePresidents from the elected Non-Executive Directors:

• SEIFSA President

- Alpheus Ngapo

• SEIFSA Vice-Presidents

- Elias Monage* - Nonhlanhla Ngwenya - Andrea Moz * Mr Monage’s two-year term came to an end at the AGM of 9 October 2020, however, he was automatically eligible to serve as Vice-President for another year.

BOARD MEETINGS

In the year under review, there were eight Board Meetings held on the following dates:

• 3 August 2020 • 29 September 2020* • 2 November 2020 • 1 February 2021 • 26 April 2021* • 3 May 2021 • 26 May 2021 • 15 June 2021*

*Special Board Meeting.

Board Committee Meetings

In the year under review, there were the following Board Committee Meetings, held on the following dates:

Audit and Risk Committee • 31 August 2020 • 29 September 2020 • 3 May 2021 • 26 May 2021

Social and Ethics Committee

• 29 March 2021

Remuneration Committee

• No meetings were held for this Committee in the year under review

GOVERNANCE ISSUES

The following noteworthy governance events took place during the course of the year: • During April 2021, Mr Ngapo resigned from the

Board and as SEIFSA’s President, and the Board appointed Mr Monage to serve as Interim Board

Chair and President until the next AGM. • After serving many terms as a SEIFSA Board

Member, Ms Veldhoven resigned from the Board due to her retirement from the industry. SEIFSA wishes her well and thanks her for her loyal and dedicated service. • Mr Panya also resigned from the Board due to time constraints, however, he continues to play an active role as a member of Light Engineering Industries’

Association’s Executive Committee. • During May 2021, the CEO of SEIFSA, Dr Kaizer

Nyatsumba, was placed under precautionary suspension and in July 2021 he resigned from

SEIFSA. • On the 3 August the SEIFSA Board appointed Lucio

Trentini as Chief Executive Officer. • During the Board Meeting of 26 May 2021, the Board of Directors resolved to constitute a

Nominations Committee, consisting of Mr Monage,

Ms Ngwenya and Mr Tsehlo.

Louwressè Specht Company Secretary