Dealings in securities by directors, the group company secretary and directors of a major subsidiary AECI LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1924/002590/06) Share code: AFE ISIN: ZAE000000220 (“AECI”) DEALINGS IN SECURITIES BY DIRECTORS, THE GROUP COMPANY SECRETARY AND DIRECTORS OF A MAJOR SUBSIDIARY In compliance with the JSE Limited Listings Requirements, shareholders are advised of the following dealings in AECI’s securities relating to Performance Shares that vested on 28 June 2016 in terms of the 2012 AECI Long-Term Incentive Plan (“LTIP”): Name: Mark Dytor Position and company: Chief Executive, AECI Class of securities: Ordinary shares Nature of transaction: On-market disposal of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 27 July 2016 Number of securities: 10 417 Price per security: 9 311,50 cents Total value of transaction: R969 978,96 Nature of interest: Direct beneficial Clearance to deal obtained: Yes Name: Mark Kathan Position and company: Chief Financial Officer, AECI Class of securities: Ordinary shares Nature of transaction: On-market disposal of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 27 July 2016 Number of securities: 9 666 Price per security: 9 311,50 cents Total value of transaction: R900 049,59 Nature of interest: Direct beneficial Clearance to deal obtained: Yes Name: Nomini Rapoo Position and company: Group Company Secretary, AECI Class of securities: Ordinary shares Nature of transaction: On-market disposal of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 27 July 2016 Number of securities: 1 545 Price per security: 9 311,50 cents Total value of transaction: R143 862,68 Nature of interest: Direct beneficial Clearance to deal obtained: Yes Name: Edwin Ludick Position and company: Director of AEL Holdco Limited, a major subsidiary of AECI Class of securities: Ordinary shares Nature of transaction: On-market disposal of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 27 July 2016 Number of securities: 2 204 Price per security: 9 311,50 cents Total value of transaction: R205 225,46 Nature of interest: Direct beneficial Clearance to deal obtained: Yes Name: Wayne Du Chenne Position and company: Director of AEL Holdco Limited, a major subsidiary of AECI Class of securities: Ordinary shares Nature of transaction: On-market disposal of ordinary shares Date of transaction: 27 July 2016 Number of securities: 3 116 Price per security: 9 311,50 cents Total value of transaction: R290 146,34 Nature of interest: Direct beneficial Clearance to deal obtained: Yes Woodmead, Sandton 28 July 2016 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 28/07/2016 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.