Dealing in Securities by a Director

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)

DEALING IN SECURITIES BY A DIRECTOR

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (Listings Requirements), the following information is disclosed:

Acceptance of award of performance shares: Long-term Incentive Plan (LTIP)

In terms of the standard rules of the Company's LTIP, the participant has been allocated an award of performance shares in line with an annual award process. These will convert into AECI ordinary shares and will vest three years after the grant date of 14 April 2025, subject to the performance conditions attached to each allocation being met. The award of performance shares was accepted by the participant on 17 June 2025 and the performance shares were issued at the grant price of R92.9000 on the same date, as follows:

The abovementioned transaction, for which the prescribed clearance was granted in terms of paragraph 3.66 of the Listings Requirements, was effected off-market and represents a direct beneficial interest in the Company.

Woodmead, Sandton

17 June 2025

Equity Sponsor: One Capital

Debt Sponsor: Questco Proprietary Limited