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 the results of the voting at the annual general meeting of the Company held at 08:00 today, Friday, 18 January 2019, at the AEEI Head Office, at Quay 7, East Pier, V&A Waterfront, Cape Town (“AGM”), are as follows: Votes Votes for against resolution resolution as a as a Number of percentage percentage shares Number of of total of total voted at shares number of number of AGM as a abstained as Resolutions shares shares Number of percentage a percentage proposed at the voted at voted at shares voted of shares in of shares in AGM AGM AGM at AGM issue issue Ordinary resolution number 1: To appoint the Withdrawn following Director: Abdul Malick Salie Ordinary resolution number 2: To appoint the following Director: 100 0 401 128 722 81.64 0 Ngoako Abel Ramatlhodi Ordinary resolution number 3: To re- elect the following Director who retires 100 0 401 128 722 81.64 0 by rotation: Vukile Charles Mehana Ordinary resolution number 4: To re- elect the following Director who retires 100 0 401 128 722 81.64 0 by rotation: Aziza Begum Amod Ordinary resolution number 5: To re- Withdrawn elect the following Director who retires by rotation: Takudzwa Tanyaradzwa Hove Ordinary resolution number 6: To re- elect the following Director who retires Withdrawn by rotation: Zenariah Barends Ordinary resolution number 7: To re- elect the following Director who retires Withdrawn by rotation: Johannes Mihe Gaomab Ordinary resolution number 8: To re- appoint the following member of the audit and risk Withdrawn committee: Takudzwa Tanyaradzwa Hove Ordinary resolution number 9: To re- appoint the following member 100 0 401 128 722 81.64 0 of the audit and risk committee: Aziza Begum Amod Ordinary resolution number 10: To re- appoint the following member of the audit and risk Withdrawn committee: Johannes Mihe Gaomab Ordinary resolution number 11: To re- appoint the following member of the audit and risk 100 0 401 128 722 81.64 0 committee: Ngoako Abel Ramatlhodi Ordinary resolution number 12: The appointment of 100 0 401 128 722 81.64 0 BDO Cape Inc. as the independent auditor of the Company for the ensuing year Ordinary resolution number 13: Control of authorised but 100 0 401 128 722 81.64 0 unissued “B” ordinary shares Ordinary resolution number 14: Approval to issue “B” ordinary shares 100 0 401 128 722 81.64 0 and/or options for cash Ordinary resolution number 15: Non- binding advisory vote on the 100 0 401 128 722 81.64 0 Remuneration policy of the Company Ordinary resolution number 16: Non- binding advisory vote on the Implementation of 100 0 401 128 722 81.64 0 the remuneration policy of the Company Special resolution number 1: To approve the remuneration of the 100 0 401 128 722 81.64 0 non-executive Directors Special resolution number 2: To approve inter- 100 0 401 128 722 81.64 0 company financial assistance Special resolution number 3: To approve financial assistance for the subscription or 100 0 401 128 722 81.64 0 purchase of shares in the Company or in a related or inter- related company Special resolution number 4: Approval for the Company or its subsidiaries to 100 0 401 128 722 81.64 0 repurchase shares of the Company Note: Total number of shares in issue as at the date of the AGM was 491 339 434. CHANGES TO THE BOARD OF DIRECTORS Messrs AM Salie, TT Hove, JM Gaomab and Ms Z Barends did not make themselves available for re-election at the AGM and voluntary elected to step off the Board and accordingly the requisite resolutions were withdrawn. Furthermore, the Board wishes to advise that Ms CF Hendricks voluntary elected to step off the Board as an executive director of the Company with immediate effect but will continue in her role as an executive in the capacity of Corporate Affairs and Sustainability. Accordingly, in compliance with paragraph 3.59(b) of the JSE Listings Requirements, the Company advises that Messrs AM Salie, TT Hove, JM Gaomab, Ms Z Barends and Ms CF Hendricks were not available for re-election to the Board (the Board) and are therefore no longer directors to the Board with effect from 18 January 2019. The Board wishes to thank Messrs Salie, Hove, Gaomab, Ms Barends and Ms Hendricks for their tenure on the Board and its Committees. The Board wishes to take this opportunity of wishing them all of the very best and success going forward. The Board further advises that Mr Ismet Amod has been appointed to the Board of Directors as an independent non-executive director effective 21 January 2019. In addition, the Board further wishes to advise that Mr Ismet Amod has been appointed to the Audit and Risk Committee effective 21 January 2019. Cape Town 18 January 2019 Sponsor PSG Capital Date: 18/01/2019 03:00:00 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. 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