Disclosure of a disposal of a beneficial interest in AECI securities

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)

DISCLOSURE OF A DISPOSAL OF A BENEFICIAL INTEREST IN AECI SECURITIES

In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008, as amended (the Companies Act), regulation 121(2)(b) of the Companies Regulations, 2011 and paragraph 3.83(b) of the JSE Limited Listings Requirements, AECI shareholders and noteholders are advised that the Company has received notification, in the prescribed form, from Truffle Asset Management Proprietary Limited (Truffle), advising that it has disposed of a beneficial interest in the ordinary securities of AECI, such that Truffle now holds a beneficial interest of 4.84% of the total issued ordinary share capital of the Company.

As required in terms of sections 122(3)(a) and 122(3A) of the Companies Act, the Company will file the required notice with the Takeover Regulation Panel and the Companies and Intellectual Property Commission.

Woodmead, Sandton

28 November 2025

Equity Sponsor: One Capital

Debt Sponsor: Questco Proprietary Limited