Cautionary Announcement AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE ISIN: ZAE000195731 (“the Company”) Cautionary Announcement Shareholders are advised that the Company has entered into discussions regarding a potential disposal which, if successfully concluded, may have material effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made. Cape Town 5 August 2022 Joint Sponsor Vunani Sponsors Joint Sponsor Merchantec Capital Date: 05-08-2022 05:25:00 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.