Dealings in Securities

Summary by AI ^BETAClose X

AECI Limited has entered into a hedging arrangement with Investec Bank Limited to cover the AECI Employee Share Scheme Trust's future obligation to deliver ordinary shares. This transaction involved the acquisition of 488,006 shares for a total value of R42,708,319.53 between November 17 and November 19, 2025, with prices not exceeding a 2% premium on the volume weighted average price. The acquisitions were executed on the market, with specific daily share numbers and values detailed, representing an indirect beneficial interest for the Trust.

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

AECI shareholders (Shareholders) and noteholders are advised that, on 19 November 2025, the Company, on behalf of the AECI Employee Share Scheme Trust (Trust), concluded a hedging arrangement with Investec Bank Limited (Investec), an independent third party, to hedge the Trust's potential future obligation to deliver AECI ordinary shares (Shares) to its participants, in accordance with the rules of the Trust (Hedging Transaction). The Hedging Transaction provides for the acquisition of a maximum of 488 006 Shares at a price not exceeding a 2% premium on the volume weighted average price (VWAP) of Shares over the five preceding trading days.

Shareholders and noteholders are hereby advised of the following acquisitions of Shares, on behalf of the Trust, in execution of the Hedging Transaction, between 17 November 2025 and 19 November 2025:

Name of entity:	Investec, on behalf of the Trust
Class of securities:	Ordinary shares
Nature of transaction:	Purchase of Shares pursuant to the Hedging Transaction
Transaction completed:	On-market
Total number of Shares acquired:	488 006
Total value of Shares acquired:	R42 708 319.53
Nature of interest:	Indirect beneficial (purchased by Investec acting as an independent agent on behalf of the Trust)

The breakdown of the acquisitions of Shares is as follows:

Date	Number of Shares	VWAP (cents per share)	High (price) (cents per share)	Low (price) (cents per share)	Value
17 Nov 2025	254 052	8 784.0000	8 830	8 651	R22 315 927.68
18 Nov 2025	183 954	8 722.9802	8 783	8 664	R16 046 271.00
19 Nov 2025	50 000	8 692.2417	8 777	8 653	R4 346 120.85