ZESA HOLDINGS (PRIVATE) LIMITED INTERNAL CORRESPONDENCE From Head Corporate Services ‘At: ZESA Holdings To Addresses Below At: Various Date 12 May 2020 Ref: 137/1/SD/om Subject: Increase in Staff Special Fund Subscriptions and Benefits Pursuant to the increase in the Staff Special Fund subscriptions and benefits and for the avoidance of doubt, the revised benefit limit for the year 2020 shall apply as follows: iit Deductions for the revised subscriptions of ZWLS100.00 per month per employee shall commence on the May 2020 payroll, while the employer contributions per employee/pensioner will commence in April 2020. Revised benefits limit for the year 2020 shall be computed on a pro-rata basis since the annual revised limit was approved effective April 2020. A member will therefore be entitled to 75% of the total revised annual limit of ZWL$50000.00, which is ZWL$37500.00 from April to December 2020. Prior to April 2020, employee monthly contributions were ZWL$10.00 per month and the accumulated funds would only allow an annual benefit limit of ZWL$2500.00 per member. The increase in subscriptions effective April 2020 coupled with the employer contributions. have enabled the accumulated funds to be enhaneed from the time of implementation of the increase. Therefore members can only start to access the revised limits from April 2020. The benefit limit is on a draw down basis, and any unused portion cannot be rolled over into the next financial year, which runs from January to December. R. PASIPANODYA » HEAD CORPORATE SERVICES Addressees Senior Manager- HR - 2C Senior Manager -HR - ZETDC Human Resources Manager - ZENT Human Resources Manager = Powertel Administration Manager = ZESA Holdings ce: Group Financial Controller - ZESA Holdings