Results of the General Meeting wherein shareholders have approved the Acquisition by the Company of IberAfrica AEP Energy Africa Limited Incorporated in the Republic of South Africa (Registration number: 2017/024904/06) JSE share code: AEY ISIN: ZAE000241741 (“AEP” or “the Company”) RESULTS OF THE GENERAL MEETING WHEREIN SHAREHOLDERS HAVE APPROVED THE ACQUISITION BY THE COMPANY OF IBERAFRICA 1. ACQUISITION OF IBERAFRICA Shareholders are referred to the announcements released on SENS on 26 June 2018 and 27 September 2018 pertaining to the Transaction and the Specific Issue. Using the terms defined therein unless otherwise stated, AEP is pleased to report on proceedings at the General Meeting held today, 25 October 2018. A further condition precedent has been fulfilled towards transforming the Company from a SPAC into an integrated energy business. Shareholders unanimously approved all of the ordinary and special resolutions relating to the acquisition of 100% of the shares and shareholder claims in IberAfrica for a cash consideration of US$61.5 million. 2. RESULTS OF THE GENERAL MEETING The total number of ordinary shares in issue is 5 255 680 shares of which 5 186 200 shares were voted at the General Meeting, representing 98.68%. There were no abstentions. Resolutions Shares voted Votes Votes For Against Number % (1) % (2) % (2) Ordinary resolution number 1: 5 186 200 98.68 100.00 0.00 Approval of the acquisition of IberAfrica. Special resolution number 1: 5 186 200 98.68 100.00 0.00 Authorisation to issue 30% or more of the Ordinary Shares currently in issue in terms of section 41(3) of the Companies Act for purposes of implementing the Specific Issue. Special resolution number 2: 5 186 200 98.68 100.00 0.00 Authority for the Board to issue new Shares of the Company to the PIC, Destiny, Trodera and Ebotos, to the extent they are regarded as persons falling within the ambit of section 41(1) of the Companies Act. Ordinary resolution number 2: 2 686 000 51.11(3) 100.00 0.00 Approval of the Destiny/Trodera Subscription in terms of the Listings Requirements. Ordinary resolution number 3: 5 184 200 98.64(4) 100.00 0.00 Approval of the Ebotos Subscription in terms of the Listings Requirements. Ordinary resolution number 4: 2 611 200 49.68(5) 100.00 0.00 Approval of the PIC Subscription in terms of the Listings Requirements. Ordinary resolution number 5: 5 186 200 98.68 100.00 0.00 General authorising resolution. Notes: 1. As a percentage of total ordinary shares in issue. 2. As a percentage of shares voted. 3. Destiny, Trodera and their respective associates (holding in aggregate 48.2% of the shares in issue) were excluded from voting on ordinary resolution number 2. 4. Ebotos and its respective associates (holding in aggregate 0.04% of the shares in issue) were excluded from voting on ordinary resolution number 3. 5. The PIC and its respective associates (holding in aggregate 49% of the shares in issue) were excluded from voting on ordinary resolution number 4. Johannesburg 25 October 2018 Designated Advisor Questco Corporate Advisory Proprietary Limited Date: 25/10/2018 05:00:00 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.