Update in respect of SPAC listing and renewal of cautionary announcement 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”) UPDATE IN RESPECT OF SPAC LISTING AND RENEWAL OF CAUTIONARY ANNOUNCEMENT 1. UPDATE IN RESPECT OF SPAC LISTING Shareholders are referred to the announcement released on SENS on 31 July 2019 in which they were advised that the JSE had granted a further extension to AEP, until 30 September 2019, to finalise the acquisition of its Viable Asset. Shareholders are advised that the Company has requested a further extension from the JSE, and the JSE has granted the requested extension, until 25 October 2019. Shareholders are further advised that the Company has entered into binding facility agreements with a leading domestic bank, as well as binding equity subscription agreements with domestic and international investors. These agreements, upon implementation, provide the Company with the financial resources to settle the acquisition consideration. 2. RENEWAL OF CAUTIONARY ANNOUNCEMENT As a result of the aforesaid, shareholders are advised to continue exercising caution when dealing in the Company’s securities until a further announcement is made. Johannesburg 3 October 2019 Designated Advisor Questco Corporate Advisory Proprietary Limited Date: 03/10/2019 05:05:00 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.