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SFF Chevron expression of interest CEF response media release

1 July 2016                                               Media Statement                                                                                                                                                                           Response from CEF Group on SFF’s Expression of interest to Chevron SA The CEF Board of Directors met to consider reports that the Strategic Fuel Fund has expressed interest in acquiring Chevron SA assets. The board established that these reports were correct and that the actions of SFF did not comply with governance requirements. The CEF Board have accepted the resignation with immediate effect, of the Chairman and the Acting CEO of SFF and have resolved to urgently address the gaps in governance compliance at SFF and across the CEF Group of companies. The CEF Board regrets the impact of this occurrence to Chevron SA, who are a valued industry partner. The Group further regrets the perceived misalignment with the Minister of Energy and the Department of Energy. End Enquiries: Kesebonem@cefgroup.co.za