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 Price Price Value of transaction acquired VWAP (R) High (R) Low (R) transaction (R) 21 July 2020 113 689 78,02 79,23 77,13 8 870 016 22 July 2020 22 147 78,83 79,76 77,08 1 745 848 Woodmead, Sandton 23 July 2020 Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited) Date: 23-07-2020 10:00:00 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. 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.