Declaration announcement in respect of the return of capital to shareholders 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”) DECLARATION ANNOUNCEMENT IN RESPECT OF THE RETURN OF CAPITAL TO SHAREHOLDERS Shareholders are referred to the announcement released on SENS on 30 October 2019, in which they were advised, inter alia, that the Company, being a SPAC unable to complete the acquisition of a Viable Asset within the Initial Period, is required to comply with paragraph 4.37 of the Listings Requirements. This states that, following the Intial Period, the SPAC must, inter alia complete a distribution to shareholders equal to the aggregate amount held in escrow, net of applicable taxes and expenses related to the distribution and voluntary winding-up of the Company (“Capital Distribution”). The Capital Distribution must be the maximum amount possible, while still complying with the solvency and liquidity test pursuant to the Companies Act, 2008 (Act 71 of 2008), as amended, which equates to the aggregate amount held in escrow, net of applicable taxes and, expenses related to the distribution and possible voluntary winding up of AEP. In accordance with the Listings Requirements, Shareholders are advised that the Board has determined the quantum of the Capital Distribution to be an amount of 95 cents per AEP share. The salient dates and times pertaining to the Capital Distribution are set out below. 2019 Declaration announcement released on SENS on Monday, 2 December Last day to trade to be eligible to receive the Capital Distribution Tuesday, 17 December Shares trade ex-Capital Distribution Wednesday, 18 December Record date to receive the Capital Distribution Friday, 20 December Payment date Monday, 23 December Johannesburg 2 December 2019 Designated Advisor Questco Corporate Advisory Proprietary Limited Date: 02-12-2019 05:47:00 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.