Dealings in securities by directors AECI LIMITED Incorporated in the Republic of South Africa (Registration number: 1924/002590/06) Share code: AFE ISIN: ZAE000000220 Share code: AFEP ISIN: ZAE000000238 Bond company code AECI ("AECI" or "the Company") DEALINGS IN SECURITIES BY DIRECTORS In compliance with JSE Limited Listings Requirements, shareholders are advised of the following sales under the LTIP in respect of the awards that vested on 30 June 2018: Name: Mark Dytor Position and company: Chief Executive, AECI Class of securities: Ordinary shares Nature of transaction: On-market sale of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 26 July 2018 Number of securities: 17 666 Price per security: 10 501.93 cents Total value of transaction: R1 855 270.95 Extent 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 sale of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 26 July 2018 Number of securities: 13 005 Price per security: 10 501.93 cents Total value of transaction: R1 365 776.00 Extent of interest: Direct beneficial Clearance to deal obtained: Yes Name: Edwin Ludick Position and company: Director, AECI Mining Solutions Ltd (a major subsidiary) Class of securities: Ordinary shares Nature of transaction: On-market sale of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 27 July 2018 Number of securities: 6 859 Price per security: 10 500.52 cents Total value of transaction: R720 230.67 Extent 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 sale of ordinary shares to settle the tax obligations arising from the LTIP Date of transaction: 25 July 2018 Number of securities: 3 659 Price per security: 10 560.19 cents Total value of transaction: R386 397.35 Date of transaction: 26 July 2018 Number of securities: 35 Price per security: 10 501.93 cents Total value of transaction: R3 675.68 Extent of interest: Direct beneficial Clearance to deal obtained: Yes Woodmead, Sandton 30 July 2018 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 30/07/2018 09:00:00 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.