Dealings in securities by a prescribed officer

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 BY A PRESCRIBED OFFICER

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 as per the dates in the table below after the grant date of 1 September 2025, subject to the performance conditions attached to each allocation being met. The award of performance shares was accepted by S Miller (Prescribed Officer: AECI Executive Vice President, AECI Mining) on 1 September 2025 and the performance shares were issued at the grant prices as follows:

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

Woodmead, Sandton

2 September 2025

Equity Sponsor: One Capital

Debt Sponsor: Questco Proprietary Limited