Atlas Mara Limited

Directorate Change

TORTOLA, BRITISH VIRGIN ISLANDS--(Marketwired - Oct 3, 2017) - Atlas Mara Limited (LSE: ATMA)

LSE: ATMA

3 October 2017

Atlas Mara Limited ("Atlas Mara")

Strategic Update

Following its recently completed strategic transaction with Fairfax Africa, Atlas Mara Limited ("Atlas Mara" or the "Company" and, including its subsidiaries, the "Group"), the sub-Saharan African financial services group, today announces changes to its Board and management.

In accordance with the terms of the agreement entered into with Fairfax Africa as part of the Placing and Open Offer (the "Strategic Financing"), the Atlas Mara Board has approved the appointments of Michael Wilkerson, Richard Boucher, Quinn McLean and Hisham Ezz Al-Arab (the "New Directors") to the Board of Directors. Co-founder Ashish J. Thakkar and Tonye Cole, Chair of the Nomination Committee are stepping down from their respective roles on the Board. Following these changes, which take effect from October 2, 2017, Rachel Robbins, Amadou Raimi, Funke Opeke and Eduardo Mondlane, Jr. will remain on the Board.

Bob Diamond, Chairman of the Board, said: "On behalf of the Board, I wish to thank my partner and co-founder, Ashish and Tonye, one of our founding directors, for their incredible contributions to the Board. Ashish played an important role supporting the team in our Fintech business line and government and stakeholder relations, and will remain available to support us in these areas. Tonye will remain engaged in our Nigeria operations given the importance of Nigeria for our strategy." Regarding the incoming Board members, Mr. Diamond stated: "I am pleased to welcome such accomplished individuals to the Atlas Mara Board. Their skills and experience are excellent complements for our Board as we grow from strength to strength."

Mr. Thakkar stated, "I am proud of what Bob and I have accomplished with Atlas Mara to position it for the next phase of growth. There is an unbelievable opportunity to grow the company's footprint and boost financial inclusion on our continent via facilitating access to finance for the underserved particularly SMEs. As a co-founder, I look forward to continuing to support the team to realize our vision."

The Company also announces that Arina McDonald will today step down from her position as Chief Financial Officer to relocate back to South Africa for personal reasons and to pursue other interests. In the interim, Mr. Kenroy Dowers, Group MD of Strategy and Investments will assume the role of CFO until a permanent hire is selected.