Cash payment in respect of fractional entitlements AVENG LIMITED Incorporated in the Republic of South Africa (Registration number: 1944/018119/06) ISIN: ZAE000302618 SHARE CODE: AEG ("Aveng" or "the Company") CASH PAYMENT IN RESPECT OF FRACTIONAL ENTITLEMENTS Shareholders are referred to the circular (“Circular”) issued by the Company on Tuesday, 12 October 2021 relating to the share consolidation (“the Consolidation”) of the Company’s share capital on a 500 to 1 basis and to the subsequent announcement released by the Company on SENS on Wednesday, 10 November 2021 advising shareholders that the special resolutions relating to the Consolidation were passed by the requisite majority of Aveng shareholders at the general meeting of the Company on the same date. In implementing the Consolidation, a shareholder becoming entitled to a fraction of a share arising from the Consolidation (“Fractional Entitlement”) will be rounded down to the nearest whole number, resulting in the allocation of whole shares and a cash payment for the fraction (“Cash Payment”). The value of such Cash Payment will be the volume weighted average traded price (“VWAP”) per Aveng share traded on the JSE Limited on Wednesday, 8 December 2021 (being the first day of trade after the last day to trade in order to participate in the Consolidation), less 10%. The VWAP of Aveng ordinary shares traded on the JSE on Wednesday, 8 December 2021 was 2 511,13043 cents per share. This amount, discounted by 10%, is 2 260,01739 per share, which amount will be used to determine the cash payment for the fractional entitlements. Shareholders are informed that, as far as the tax implications of the cash payment of the fractional entitlements are concerned, the receipt of the cash payment will not be subject to dividend withholding tax. The above is a general guide and is not intended to constitute a complete analysis of the taxation consequences of the cash payment of fractional entitlements in terms of South African taxation law. It is not intended to be, nor should it be considered as legal or taxation advice and shareholders are advised to seek their own tax advice from an independent tax adviser. The Company and its advisers cannot be held responsible for the taxation consequences that the Consolidation may have on individual shareholders and therefore shareholders are advised to consult their own tax advisers if they are in any doubt about their tax position. The salient dates and times announced by the Company on 25 November 2021 remain unchanged. 9 December 2021 Melrose Arch JSE Sponsor UBS South Africa Proprietary Limited Itumeleng Lepere Stakeholder Engagement Lead Tel: 011 779 2800 Email: investor.relations@avenggroup.com Date: 09-12-2021 11:00:00 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.