A E C I LIMITED - Dealings in securities on behalf of the AECI Long-Term Incentive Plan (the LTIP)

Dealings in securities on behalf of the AECI Long-Term Incentive Plan (the “LTIP”)

AECI LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1924/002590/06)
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(“AECI”)

DEALINGS IN SECURITIES ON BEHALF OF THE AECI LONG-TERM INCENTIVE PLAN (THE “LTIP”)

In compliance with the JSE Limited Listings Requirements (“Listings Requirements”), shareholders and noteholders
are advised that AECI had entered into an agreement with Investec Bank Limited (“Investec”), an independent third
party broking firm, to purchase AECI ordinary shares (“Shares”) on behalf of the LTIP, in order to settle the
obligations to its participants in respect of the Performance Shares (as defined in the rules of the LTIP) that vested
on 30 June 2020, in a non-dilutive manner in accordance with the rules of the LTIP.

Shares were purchased in terms of an approved share purchase programme, with binding instructions having been
provided to the broker ahead of the closed or prohibited period.

The following information is disclosed in compliance with the Listings Requirements:

Name of share scheme:                      LTIP
Company:                                   AECI
Nature of transaction:                     On-market purchase of Shares by Investec on behalf of the LTIP to settle
                                           the obligations to the LTIP participants
Class of securities:                       Ordinary shares
Extent of interest:                        Indirect non-beneficial (purchased by Investec acting as agent on behalf of
                                           the AECI LTIP vesting account)
Clearance to deal obtained:                Yes

Date of                No. of shares         VWAP            Price          Price           Value of
transaction            acquired              (R)             High (R)       Low (R)         transaction (R)
9 July 2020            605 355               79,73           81,77          78,74           48 264 954
10 July 2020           34 250                80,76           82,19          78,48           2 766 030
13 July 2020           19 720                79,76           81,05          78,77           1 572 867
14 July 2020           85 565                81,09           82,00          80,00           6 938 466


Woodmead, Sandton
15 July 2020

Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 15-07-2020 10:30:00
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.