A E C I LIMITED - Dealings in securities

Dealings in securities

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 or the Company)

DEALINGS IN SECURITIES

AECI shareholders (Shareholders) and noteholders are advised that, on 19 November 2025, the Company, on behalf
of the AECI Employee Share Scheme Trust (Trust), concluded a hedging arrangement with Investec Bank Limited
(Investec), an independent third party, to hedge the Trust's potential future obligation to deliver AECI ordinary shares
(Shares) to its participants, in accordance with the rules of the Trust (Hedging Transaction). The Hedging Transaction
provides for the acquisition of a maximum of 488 006 Shares at a price not exceeding a 2% premium on the volume
weighted average price (VWAP) of Shares over the five preceding trading days.

Shareholders and noteholders are hereby advised of the following acquisitions of Shares, on behalf of the Trust, in
execution of the Hedging Transaction, between 17 November 2025 and 19 November 2025:

Name of entity:                                               Investec, on behalf of the Trust
Class of securities:                                          Ordinary shares
Nature of transaction:                                        Purchase of Shares pursuant to the Hedging Transaction
Transaction completed:                                        On-market
Total number of Shares acquired:                              488 006
Total value of Shares acquired:                               R42 708 319.53
Nature of interest:                                           Indirect beneficial (purchased by Investec acting as an
                                                              independent agent on behalf of the Trust)

The breakdown of the acquisitions of Shares is as follows:

Date                     Number of                   VWAP                  High                   Low                Value
                            Shares                                      (price)               (price)
                                        (cents per share)     (cents per share)     (cents per share)
17 Nov 2025                254 052             8 784.0000                 8 830                 8 651       R22 315 927.68

18 Nov 2025                183 954             8 722.9802                 8 783                 8 664       R16 046 271.00

19 Nov 2025                 50 000             8 692.2417                 8 777                 8 653        R4 346 120.85

Woodmead, Sandton
2 December 2025


Equity Sponsor: One Capital

Debt Sponsor: Questco Proprietary Limited

Date: 02-12-2025 04:45:00
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