Trading statement for the six months ended 31 December 2018 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”) _________________________________________________________________________________ Trading statement for the six months ended 31 December 2018 _________________________________________________________________________________ In terms of the JSE Limited (“JSE”) Listings Requirements companies are required to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for the current reporting period will differ by at least 20% from the results of the prior corresponding reporting period. Accordingly, AEP shareholders are advised that the Company anticipates both the loss per share (“LPS”) and headline loss per share (“HLPS”) to be between 224 cents per share and 233 cents per share for the six months ended 31 December 2018. This represents an increased loss of between 91.5 cents per share and 100.5 cents per share, which equates to an increased loss of between 69% and 76% when compared to the LPS and HLPS of 132.48 cents per share reported for the year ended 31 December 2017. Shareholders were advised by the Company on 25 October 2018 that the Company’s proposed acquisition of 100% of the shares in and shareholder claims against IberAfrica (East Africa) Limited (“the Viable Acquisition”) had been approved by the Company’s shareholders in general meeting. Implementation of the Viable Acquisition has taken longer than expected and has resulted in the Company incurring additional costs. This has resulted in the expected increase in the LPS and HLPS for the interim period to be reported as compared to the prior comparable period. The financial information on which this trading statement is based has not been reviewed and/or reported on by the Company’s external auditors. Johannesburg 19 March 2019 Designated Advisor Questco Corporate Advisory Proprietary Limited Date: 19/03/2019 05:15:00 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.