AECI : Dealings in securities on behalf of the AECI Long-Term Incentive Plan (the LTIP)

AECI LIMITED

Incorporated in the Republic of South Africa (Registration number: 1924/002590/06) Share code: AFE ISIN: ZAE000000220 Hybrid code: AFEP ISIN: ZAE000000238 Bond company code: AECI

LEI: 3789008641F1D3D90E85 (AECI)

DEALINGS IN SECURITIES ON BEHALF OF THE AECI LONG-TERM INCENTIVE PLAN (THE LTIP)

In compliance with the JSE Limited Listings Requirements and Debt Listings Requirements, shareholders and noteholders are advised that AECI had entered into an agreement with Investec Bank Limited (Investec), an independent third party broking firm, to purchase AECI ordinary shares (Shares) on behalf of the LTIP, in order to settle the obligations to its participants in respect of the Performance Shares (as defined in the rules of the LTIP) that will vest on 14 April 2022, in a non-dilutive manner in accordance with the rules of the LTIP.

The following information is disclosed in compliance with the Listings Requirements:

Date of transaction	No. of shares acquired	VWAP	Price High	Price Low	Value of transaction
30 March 2022	8 146	R114,578974	R114,94	R113,81	R933 360,00
31 March 2022	18 323	R114,767481	R115,65	R114,00	R2 102 885,00
1 April 2022	37 456	R115,899113	R116,80	R115,00	R4 341 117,00
4 April 2022	351 492	R114,546323	R116,12	R114,34	R40 262 116,00

Name of share scheme:	LTIP
Company:	AECI
Nature of transaction:	On-market purchase of Shares by Investec on behalf of the LTIP to settle
the obligations to the LTIP participants
Class of securities:	Ordinary shares
Extent of interest:	Indirect non-beneficial (purchased by Investec acting as agent on behalf of
the AECI LTIP vesting account)
Clearance to deal obtained:	Yes
Woodmead, Sandton
5 April 2022

Equity and Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)