Dealings in securities by a prescribed officer

Summary by AI ^BETAClose X

On September 1, 2025, a prescribed officer of AECI, accepted an award of performance shares under the company's Long-Term Incentive Plan (LTIP). These shares, issued with a grant date of September 1, 2025, will convert into ordinary AECI shares and vest on various dates, subject to performance conditions. 42,884 shares were issued at a grant price of R107.1500, with a total value of R4,595,020.60 and will vest on March 26, 2026. Additionally, 15,702 shares were issued at R92.9000, valued at R1,458,715.80, vesting on March 25, 2026. A further 1,989 shares at R92.9000, valued at R184,778.10, vesting on March 25, 2027, and 94,214 shares at R92.9000, valued at R8,752,480.60, vesting on March 28, 2028. These off-market transactions represent a direct beneficial interest in the company.

Disclaimer*

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:

Grant Share Price	Vest Date	Number of performance shares	Value
R107,1500	26 Mar-26	42 884	R4 595 020.60
R92,9000	25 Mar-26	15 702	R1 458 715.80
R92,9000	25 Mar-27	1 989	R184 778.10
R92,9000	28 Mar-28	94 214	R8 752 480.60

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