AECI : Dealings in securities by directors and prescribed officers

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 or the Company)

DEALINGS IN SECURITIES BY DIRECTORS and PRESCRIBED OFFICERS

In compliance with the JSE Limited Listings Requirements and Debt Listings Requirements, shareholders and noteholders are advised of the following sales under the AECI Long-term Incentive Plan (LTIP) in respect of the awards that vested on 14 April 2022:

Name:	Mark Dytor
Position and company:	Chief Executive, AECI
Date of transaction:	25 April 2022
Nature of transaction:	On-market sale of ordinary shares to settle the tax obligations arising
from the LTIP awards
Number of securities:	26 698
Class of securities:	Ordinary shares
VWAP per security:	R97,8754
Total value of transaction:	R2 613 077,43
Highest price per security	R98,37
Lowest price per security	R97,80
Extent of interest:	Direct beneficial
Clearance to deal obtained:	Yes
Name:	Mark Kathan
Position and company:	Chief Financial Officer, AECI
Date of transaction:	25 April 2022
Nature of transaction:	On-market sale of ordinary shares to settle the tax obligations arising
from the LTIP awards
Number of securities:	18 381
Class of securities:	Ordinary shares
VWAP per security:	R97,8754
Total value of transaction:	R1 799 047,73
Highest price per security	R98,37
Lowest price per security	R97,80
Extent of interest:	Direct beneficial
Clearance to deal obtained:	Yes

Name:	Dean Mulqueeny
Position and company:	Prescribed Officer, AECI
Date of transaction:	25 April 2022
Nature of transaction:	On-market sale of ordinary shares to settle the tax obligations arising
from the LTIP awards
Number of securities:	10 864
Class of securities:	Ordinary shares
VWAP per security:	R97,8754
Total value of transaction:	R1 063 318,35
Highest price per security	R98,37
Lowest price per security	R97,80
Extent of interest:	Direct beneficial
Clearance to deal obtained:	Yes
Name:	Dean Murray
Position and company:	Prescribed Officer, AECI
Date of transaction:	25 April 2022
Nature of transaction:	On-market sale of ordinary shares to settle the tax obligations arising
from the LTIP awards
Number of securities:	10 724
Class of securities:	Ordinary shares
VWAP per security:	R97,8754
Total value of transaction:	R1 049 615,79
Highest price per security	R98,37
Lowest price per security	R97,80
Extent of interest:	Direct beneficial
Clearance to deal obtained:	Yes
Woodmead, Sandton
28 April 2022

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