In accordance with Section 3.59 of the JSE Limited Listings requirements, HCI shareholders are advised that the following changes have been made to the composition of the HCI Board
of Directors on the 22nd May 2019:

Dr Morelto Molefi and Connie September have resigned as non-executive directors of the Company with immediate effect. We thank both Connie and Moretlo for their contributions to
the company. A special thank you to Moretlo for her contributions to the board, social and ethics committee and audit and risk committee over the past 12 years. We wish them both
all the very best in their future endeavours.

We welcome Robert Nicolella (“Rob”) to the board as an executive director of the company with immediate effect and who will take up the position of Financial Director as of 1 August
2019. Kevin Govender, the present finance director and CFO of the past 17 years, will remain as an executive director of the company.

Rob is a qualified chartered accountant and has attended a leadership and development programme (”PLD”) at Harvard University. During his 18 year tenure at Investec Bank, Rob
headed the Structured Finance Division ( Western Cape) and thereafter, Private Bank Western Cape. He joined the HCI Group in 2011 to develop the HCI Properties portfolio. He is a director on the boards of Impact Oil and Gas and Tsogo Sun Hotels, and will step down as CEO of the Hospital Property Fund (“HPF”) on the 1 June 2019.