Results Of The Annual General Meeting African Equity Empowerment Investments Limited (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE ISIN: ZAE000195731 ("AEEI" or “the Company”) RESULTS OF THE ANNUAL GENERAL MEETING Shareholders are hereby advised that all of the ordinary and special resolutions tabled at the annual general meeting of the Company held yesterday, 21 February 2018 at AEEI’s head office at, Quay 7, East Pier, V&A Waterfront, Cape Town, Western Cape (“AGM”), were passed by the requisite majority, with the exception of ordinary resolutions number’s 2 and 7 which were withdrawn prior to the AGM. All of the resolutions were passed by the requisite majority of the AEEI shareholders. The detailed voting results of the AGM are set out below Votes for Votes Number of Number of Shares resolution against shares voted shares abstained as a as a resolution at the AGM voted at percentage (%) percentage as a the AGM as of shares in of total percentage a issue number of of total percentage shares number of (%) of voted at shares shares in AGM(%) voted at issue AGM(%) Ordinary Resolution Number 1: 100 0 382 088 489 77.76 0.06 To re-elect the following Director who retires by rotation: Reverend Dr VC Mehana Ordinary Resolution Number 2: Withdrawn To re-elect the following Director who retires by rotation: Mr S Young Ordinary Resolution Number 3: 100 0 379 962 409 77.33 0.06 To re-elect the following Director who retires by rotation: Mr JM Gaomab Ordinary Resolution Number 4: 100 0 379 962 409 77.33 0.06 To re-elect the following Director who retires by rotation: Mrs AB Amod Ordinary Resolution Number 5: 100 0 379 962 409 77.33 0.06 To re-elect the following Director who retires by rotation: Mr TT Hove Ordinary Resolution Number 6: 100 0 379 962 409 77.33 0.06 To re-elect the following Director who retires by rotation: Ms Z Barends Ordinary Resolution Number 7: Withdrawn To re-appoint the following member of the audit and risk committee: Mr S Young Ordinary Resolution Number 8: 100 0 379 962 409 77.33 0.06 To re-appoint the following member of the audit and risk committee: Mr JM Gaomab Ordinary Resolution Number 9: 100 0 379 962 409 77.33 0.06 To re-appoint the following member of the audit and risk committee: Mr TT Hove Ordinary Resolution Number 10: 100 0 379 962 409 77.33 0.06 Re-appointment of Grant Thornton Cape Inc. as the independent auditor of the Company Ordinary Resolution Number 11: 100 0 379 962 409 77.33 0.06 Control of authorised but unissued “B” ordinary shares Ordinary Resolution Number 12: 99.99 0.01 382 088 409 77.33 0.06 Approval to issue “B” ordinary shares and/or options for cash Ordinary Resolution Number 13: 100 0 379 962 409 77.33 0.06 Non-Binding Advisory Vote on the Remuneration Policy of the Company Ordinary Resolution Number 14: 100 0 379 962 409 77.33 0.06 Non-Binding Advisory Vote on the Implementation of the Remuneration Policy of the Company Special Resolution Number 1: 100 0 379 962 409 77.33 0.06 To approve the remuneration of the non-executive Directors Special Resolution Number 2: 100 0 379 962 409 77.33 0.06 To approve intercompany financial assistance Special Resolution Number 3: 100 0 379 962 409 77.33 0.06 To approve financial assistance for the subscription or purchase of shares in the Company or in a related or inter- related company Special Resolution Number 4: 100 0 379 962 409 77.33 0.06 Approval for the Company or its subsidiaries to repurchase shares of the Company CHANGES TO THE BOARD OF DIRECTORS Mr Young did not make himself available for re-election at the AGM and voluntary elected to step off the Board to focus on his duties as the independent non-executive Chairman of AYO Technology Solutions Limited (AYO) and accordingly the requisite resolutions were withdrawn. Accordingly, in compliance with paragraph 3.59(b) of the JSE Listings Requirements, the Company advises that Mr S Young was not available for re-election to the board (“the Board”) and is therefore no longer a director to the Board with effect from 21 February 2018. The Board wishes to thank Mr Young for his 13-year tenure as an independent non-executive director, Lead Deputy Chairman and Chairman of the Audit and Risk as well as the Remuneration Committees. The Board wishes to take this opportunity to wish Mr Young all of the very best and success in his new role as independent non-executive chairman of AYO. In addition, the Board further wishes to advise that Mrs AB Amod has been appointed to the Audit and Risk Committee with immediate effect. The Board further advises that Mr Abdul Malick Salie has been appointed to the Board of Directors as an executive director in the capacity of Chief Investment Officer with immediate effect. Cape Town 22 February 2018 Sponsor PSG Capital Proprietary Limited Date: 22/02/2018 04:45:00 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.