Frans qualified as a chartered accountant in 2004, after completing his articles at KPMG in Johannesburg. In 2005, Frans joined Riso Africa Proprietary Limited as the financial manager. He was appointed as a financial manager by Steinhoff Africa Holdings Proprietary Limited in 2006. He joined PG Bison Proprietary Limited in 2009 as the group financial manager and was appointed as chief financial officer in 2010. Frans was promoted to the position of chief financial officer of the diversified industrial segment of KAP Limited in 2015 and, in April 2016, he was appointed as the chief financial officer of KAP. Frans was appointed as chief executive officer of KAP, effective November 2025.

Dries qualified as a chartered accountant in 2005, after completing his articles with PwC. In 2004, he joined Plastop (Pty) Limited (part of the Astrapak Limited Group) as financial manager. In 2005, Dries joined DAWN Limited as group financial manager and was appointed chief financial officer in 2007. In 2016, he was appointed chief financial officer of Newpark Real Estate Investment Trust. From 2022 Dries was the chief financial officer of Astral Foods Limited. Dries was appointed as chief financial officer of KAP on 1 February 2026.

Penwell joined Steinhoff Africa Holdings Proprietary Limited in September 2005, as group industrial relations manager, responsible for the management of labour relations and labour law matters. He joined KAP Limited in April 2012. In June 2016, he was appointed as the group stakeholder relations executive and member of the executive committee, focusing on industrial relations and community interactions in the areas in which the group operates. Penwell was appointed as an executive director responsible for corporate affairs of KAP on 18 November 2021. Penwell represents KAP in various industry, trade and government-related matters in addition to his human capital and industrial relations responsibilities.

Johan is an admitted attorney and a member of the Law Society with more than 26 years’ corporate finance and private equity experience. He is the non-executive chairperson of PSG Capital, chairperson of the CA&S Group and WeBuyCars Holdings, and a non-executive director of various unlisted entities, which include financial services and private equity.Johan is highly experienced across multiple practice areas and has led and advised on numerous listings, mergers, acquisitions, capital raisings, private equity and BEE transactions, both in South Africa and abroad. Johan was appointed as an independent non-executive director of KAP Limited on 1 March 2023 and as chairperson of the board on 29 November 2024.

Zellah has a Bachelor’s degree in Social Sciences, completed the GIBS Global Executive Development Programme in 2015, and is certified as a Chartered Director (SA) by the Institute of Directors in South Africa. She started her career with Engen Limited (‘Engen’), followed by various executive positions, including as managing director of Plessey South Africa Proprietary Limited, managing director of Worldwide African Investment Holdings Proprietary Limited and chief executive officer of Afric Oil Proprietary Limited. Prior to her promotion as the global chief risk and sustainability officer at Nippon Telegraph and Telephone (the Dimension Data parent company) in September 2022, she served as the chief corporate governance officer of Dimension Data Middle East and Africa. Zellah has previously served as a non-executive director on the boards of AECI Limited, Engen, Afric Oil, Oceana Group Limited, 18th World Petroleum Council 2005, Worldwide Coal Carolina and the Unisa School of Business Leadership. Zellah was appointed as an independent non-executive director of KAP Limited on 1 March 2020.

Ken became a CA(SA) in 1978, and was an audit partner at Deloitte & Touche and KPMG for more than 30 years, where he specialised in auditing and advising financial institutions. As a retired audit partner and full-time professional director, Ken serves in a non-executive capacity on the boards of Old Mutual Finance RF Proprietary Limited and 27Four Holdings Limited, where he chairs the audit and risk committees. Ken is also a member of the social and ethics and remuneration committees of 27Four Holdings Limited. Ken was appointed as an independent non-executive director of KAP Limited on 6 December 2019.

After completing his articles at Werksmans, Sipho held positions with the Department of Trade and Industry and the Financial Services Board. He spent more than a decade with BP South Africa, serving as the managing director of Retail Southern Africa before becoming chief operating officer and chief executive officer of BP Africa. Sipho later joined Vodacom as managing director South Africa and COO. He served as the CEO of Telkom for nine years. Sipho has previously served as chairperson of Shell and BP South African Petroleum Refineries, and as a non-executive director of Afrox Limited, Gyro Group and Trudon Proprietary Limited. He is currently an independent non-executive director of Shoprite Holdings Limited, an advisory board member of the Centre for Development and Enterprise, and runs a family business which provides real estate, infrastructure and agricultural advisory services. Sipho was appointed as an independent non-executive director of KAP Limited on 15 March 2024.

Viv holds an MSc degree in Economics and a Banking and Finance diploma from the University of London, and completed the Advanced High-Performance Leadership Executive Programme at the International Institute for Management Development in Switzerland. In her early career, Viv served as the secretary-general of NUSAS. In 1992, she received the Helen Suzman Award for Leadership and, in mid-2000, she served on the President’s Economic Advisory Panel and on the Anglo American Plc Transformation Committee. She has been a member of various not-for-profit boards, including serving for more than a decade as the deputy chair of the South African Association for Marine Biological Research for the protection of the East Indian Ocean. Viv was awarded the European Industry Woman of the Year award as presented by the Fastmarkets Forest Products PPI Awards during 2023. Viv has held a number of executive positions in Mondi South Africa over a 20-year period and was recently appointed as the Business Unit chief executive officer of the uncoated fine paper divisions of Mondi’s South African, Slovakian and Austrian mills. She is also a member of the Mondi Plc Executive Committee. Viv was appointed as an independent non-executive director of KAP Limited on 12 December 2019.

Andrew holds degrees in Chemistry and Biology, Civil Engineering and Construction Management obtained in Botswana, Canada and the UK respectively, and attended Advanced Management Programmes in the USA. He is the executive chairperson of Imphandze Investment Holdings Proprietary Limited and former Deputy Group CEO of the Vodacom Group, instrumental in their African Expansion plan. Andrew has held directorships in the IT, infrastructure, digital security, shipping and agriculture industries, and is a past IT advisor to the Minister of Public Enterprises in South Africa. He was the inaugural chairperson of Broadband Infraco in South Africa, and was instrumental in the conceptualisation and rollout of the West African Cable System, which led to the promotion of the BRICS Cable System. Andrew was part of the team that delivered the International Broadcast Centre for the 2010 FIFA Soccer World Cup in South Africa. He has experience in mergers, acquisitions and disposals, has worked for major industrial conglomerates in the infrastructure sector, and advised and assisted international OEMs with their market development in the Southern African Development Community. Andrew was appointed as an independent non-executive director of KAP Limited on 15 January 2024.

Steve qualified as a chartered accountant and worked at KPMG from 1983 to 1992. In 1995, Steve joined Genbel Investments, where he rose to the positions of chief operating officer: Equities of Genbel Securities Limited, and executive director of Gensec Bank Limited. He also served as a non-executive director and member of the audit and remuneration committees of various investee companies within the Genbel Securities Group. In 2008, he retired from the group to pursue his own interests. Steve served as an independent non-executive director and chairperson of the audit committee of SACOIL Limited from 2013 to 2016. In August 2017, Steve became an independent non-executive director of Pepkor Holdings Limited and in January 2018, he was appointed as an independent non-executive director of the Phumelela Gaming and Leisure Limited board. Steve is a member of the IoDSA and was a member of SAICA from 1990 to 2023.Steve was appointed as an independent non-executive director of KAP Limited in 2012.

Samara has diverse experience in the areas of corporate finance, private equity and operational and executive management across various sectors, including financial services and education, in both the listed and unlisted space. Her most recent executive position was chief financial officer of STADIO Holdings Limited where she played an instrumental role in establishing the company and listing it on the JSE, as well as directing the overall commercial strategy of the business. Samara has also served on numerous boards of listed and unlisted companies, with a current directorship held at We Buy Cars Holdings Limited. Samara was appointed as an independent non-executive director of KAP Limited on 5 May 2025.