BEE Shareholders

NATCO is 32% black women owned with Ms Monhla Hlahla and Dr Lulu Gwagwa being the primary BEE Investors via Praxley Private Equity.

Ms Monhla Hlahla is currently the Chairman of the Industrial Development Corporation ("IDC") and Chairman of Royal Bafokeng Holdings (Pty) Limited ("RBH"). In addition, Ms Monhla Hlahla is a main board director of Liberty Holdings Limited and Advisory Board Member of Suez Environment, a French water and waste company with a market capitalisation of some EUR4,5 billion. Until September 2011, Ms Hlahla was CEO of Airports Company South Africa ("ACSA") and she continues to maintain close relationships across the aviation and the transport and logistics sectors after being ACSA's CEO for some 10 years. Under Ms Hlahla's stewardship, ACSA spent some R17 billion on transforming the airport infrastructure across South Africa which is today recognised as one of the most significant infrastructure developments having been completed in South Africa since 1994. Monhla's passion for the transport and logistics resulted in her investing in NATCO in 2007 and subsequently increasing her equity interest NATCO in 2011.

Dr Lulu Gwagwa is Chairman of Tsebo Outsourcing a main board director of JSE listed FirstRand Limited and Massmart Limited. Dr Gwagwa was previously the CEO of the Independent Development Trust ("IDT"), deputy director-general in the department of public works and senior lecturer in town planning at the University of Natal. As in the case of Monhla, Lulu is no stranger to the aviation and logistics sector having served on the board of ACSA for a number of years.

An additional 3% of NATCO's issued share capital is owned by the NATCO Employees Trust ensuring that all previously disadvantaged employees within the company participate in the shareholding structure.

Today, NATCO is arguably one of the most transformed players within the freight forwarding sector and embraces all aspects of transformation.