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AECI Limited - Preference Dividend Declaration

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AECI LIMITED

(Incorporated in the Republic of South Africa)

(Registration Number 1924/002590/06)

Tax reference number: 9000008608

Share code: AFEP

ISIN: ZAE000000238

Bond company code: AECI

LEI: 3789008641F1D3D90E85

(AECI or the Company)

DECLARATION OF PREFERENCE SHARE DIVIDEND NO. 166

Notice is hereby given that, on Tuesday, 25 May 2021, the Directors of AECI 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 Tuesday, 15 June 2021. The dividend is payable on Tuesday, 15 June 2021 to holders of preference shares recorded in the register of the Company at the close of business on the record date, being Friday, 11 June 2021.

The last day to trade ‘cum’ dividend will be Tuesday, 8 June 2021 and shares will commence trading ‘ex’ dividend as from the commencement of business on Wednesday, 9 June 2021.

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 Tuesday, 15 June 2021. Dividends payable from South Africa will be paid in South African currency at the rate of 54,39541 ZAR cents per share (gross dividend) in accordance with the exchange rate ruling on Monday, 17 May 2021 (1 pound sterling = ZAR19,78015).

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 43,51633 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. +2711 370 5000 or by email #ZACSJHBDividendTaxQ@Computershare.co.za and must be returned to them on or before Tuesday, 8 June 2021.

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, 8 June 2021.

The issued share capital of the Company at the declaration date is 109 944 384 listed ordinary shares, 10 117 951 unlisted redeemable convertible B ordinary shares and 3 000 000 listed cumulative preference shares. The dividend has been declared from the income reserves of the Company.

Any change of address or dividend instruction must be received on or before Tuesday, 8 June 2021.

Share certificates may not be dematerialised or rematerialised between Wednesday, 9 June 2021 to Friday, 11 June 2021, both days inclusive.

By order of the Board

WJ Strydom

Group Company Secretary

Woodmead, Sandton

25 May 2021

Transfer Secretaries

Computershare Investor Services Propriety Limited

Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196

and

Computershare Investor Services PLC

P O Box 82

The Pavilions

Bridgwater Road

Bristol BS99 7NH

England

Registered office

1st Floor, AECI Place

24 The Woodlands

Woodlands Drive

Woodmead

Sandton

Equity and debt sponsor

Rand Merchant Bank (A division of FirstRand Bank Limited)

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