A E C I LIMITED - Change to the board resignation of chief financial officer

Change to the board – resignation of chief financial officer

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 or the Group)

CHANGE TO THE BOARD – RESIGNATION OF CHIEF FINANCIAL OFFICER

In compliance with paragraphs 3.59 of the JSE Limited (JSE) Listings Requirements and 6.39 of the
JSE Debt Listings Requirements, the AECI Board of Directors of (“the Board”) hereby notifies its
shareholders and noteholders that it has accepted the resignation of the Chief Financial Officer (CFO)
of AECI, Ms Aarti Takoordeen, for personal reasons, and with immediate effect.

Shareholders are further advised that the Board has appointed Rafael Fernandes as acting Chief
Financial Officer of AECI effective until further notice. Mr Fernandes has been group CFO for AECI
Mining since 2015 and knows the company and its leadership well. He is a qualified chartered
accountant (SA) with a B.Com Honours degree in Accounting, an ACMA qualification from CIMA, and
has completed the Strategic Financial Leadership Programme at Stanford University.

The Board has initiated a process to identify a new CFO and will consider internal and external
candidates.

Woodmead, Sandton
26 April 2023

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

Date: 26-04-2023 02:45:00
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