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AECI Limited - Dealings in Securities re LTIP

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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)

DEALINGS IN SECURITIES ON BEHALF OF THE AECI LONG-TERM INCENTIVE PLAN (THE LTIP)

In compliance with the JSE Limited Listings Requirements and Debt Listings Requirements (Listings Requirements), shareholders and noteholders are advised that AECI had entered into an agreement with Investec Bank Limited (Investec), an independent third party broking firm, to purchase AECI ordinary shares (Shares) on behalf of the LTIP, in order to settle the obligations to its participants in respect of the Performance Shares (as defined in the rules of the LTIP) that will vest on 16 April 2021, in a non-dilutive manner in accordance with the rules of the LTIP.

The following information is disclosed in compliance with the Listings Requirements:

Name of share scheme: LTIP

Company: AECI

Nature of transaction: On-market purchase of Shares by Investec on behalf of the LTIP to settle the obligations to the LTIP participants

Class of securities: Ordinary shares

Extent of interest: Indirect non-beneficial (purchased by Investec acting as agent on behalf of the AECI LTIP vesting account)

Clearance to deal obtained: Yes

Date of transaction

No. of shares acquired

VWAP

Price
High

Price
Low

Value of transaction

25 March 2021

66 417

R101,6477

R102,1600

R101,0400

R6 751 135,29

26 March 2021

49 193

R102,1364

R103,0200

R100,9900

R5 024 394,79

Woodmead, Sandton

29 March 2021

Equity and Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)