Declaration of Cumulative 5.5 per cent Preference Share Dividend No. 175

AECI LIMITED

(Incorporated in the Republic of South Africa)

(Registration Number 1924/002590/06)

Tax reference number: 9000008608

Share code: AFE ISIN: ZAE000000230

Hybrid code: AFEP ISIN: ZAE000000238

Bond company code: AECI

LEI: 3789008641F1D3D90E85

(AECI or the Company)

DECLARATION OF CUMULATIVE 5.5 PER CENT PREFERENCE SHARE DIVIDEND NO. 175

Notice is hereby given that on Tuesday, 25 November 2025, the board of directors of AECI (Board) declared a gross cash dividend, at the rate of 5.5 per cent per annum (equivalent to 2,75 pence sterling), for the six months ending Friday, 12   December 2025. The dividend is payable on Monday, 15 December 2025 to holders of preference shares recorded in the register of the Company at the close of business on the record date for receipt of the cash dividend, being Friday, 12 December 2025.

The last day to trade ` cum ' dividend will be Tuesday, 9 December 2025 and shares will commence trading `ex-dividend' as from the commencement of business on Wednesday, 10 December 2025.

The dividend is declared in pound sterling and payment will be made from the offices of the Transfer Secretaries in South Africa and the United Kingdom on Friday, 12 December 2025. Dividends payable from South Africa will be paid in South African currency at the rate of 62.37399 ZAR cents per share (gross dividend) in accordance with the exchange rate ruling on Tuesday, 25 November 2025 (1-pound sterling = ZAR 22.68145 ).

A South African dividend withholding tax of 20% will be applicable to all shareholders who are not either exempt or entitled to a reduction of the withholding tax rate in terms of a relevant Double Taxation Agreement resulting in a net dividend of 49.89919 ZAR cents per share payable to those shareholders who are not eligible for exemption or reduction. Application forms for exemption or reduction may be obtained from the Transfer Secretaries on Tel.   +27   11   370   5000 or by email #[email protected] and must be returned to them on or before Tuesday, 9 December 2025.

Dividends payable from the United Kingdom office will be subject to such tax deductions as are prescribed by United Kingdom legislation unless a certificate exempting the shareholder concerned from such tax deduction is received before Tuesday, 9 December 2025.

The issued share capital of the Company at the declaration date is 105,517,780 listed ordinary shares and 3   000   000 listed cumulative preference shares. The dividend has been declared from the income reserves of the Company (and has therefore not been declared as a reduction in the Company's contributed tax capital).

Any change of address or dividend instruction must be received on or before Tuesday, 9 December 2025.

Shares may not be dematerialised or rematerialised between Wednesday, 10 December 2025 and Friday, 12   December 2025, both days inclusive.

By order of the Board

C Singh

Group Company Secretary

Woodmead, Sandton

25 November 2025

Transfer Secretaries

Computershare Investor Services Proprietary Limited

Rosebank Towers

15 Biermann Avenue

Rosebank

2196

and

Computershare Investor Services PLC

PO Box 82

The Pavilions

Bridgwater Road

Bristol BS99 7NH

England

Registered office

1 st Floor, AECI Place

24 The Woodlands

Woodlands Drive

Woodmead

Sandton

Equity sponsor

One Capital

Debt sponsor

Questco Proprietary Limited