AECI Limited – Dealings in securities by the AECI Limited Long Term Incentive Scheme

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 BY THE AECI LIMITED LONG TERM INCENTIVE SCHEME (SCHEME)

In accordance with paragraphs 6.78 to 6.90 of the JSE Listings Requirements,
AECI shareholders and noteholders are advised of the following acquisitions of
AECI ordinary shares (Shares) on behalf of the Scheme (Acquisitions):

+—–+——-+————————+———-+———+————+
|Date |Number |Volume weighted average |High Price|Low Price|Value |
| |of |price (VWAP) / Price per| | | |
| |Shares |Share | | | |
+—–+——-+————————+———-+———+————+
|13 |296 327|R108.8936 |R112.08 |R106.94 |R32268119.44|
|March| | | | | |
|2026 | | | | | |
+—–+——-+————————+———-+———+————+
|16 |84 032 |R109.5615 |R111.48 |R107.97 |R9206667.93 |
|March| | | | | |
|2026 | | | | | |
+—–+——-+————————+———-+———+————+
|17 |12 659 |R111.1198 |R112.35 |R108.41 |R1406 665.46|
|March| | | | | |
|2026 | | | | | |
+—–+——-+————————+———-+———+————+

The Acquisitions (in respect of which the Scheme has a direct beneficial
interest) were executed on-market. Clearanceto deal was obtained in terms of
paragraph 6.83 of the JSE Listings Requirements.

Woodmead, Sandton

18 March 2026

Equity Sponsor: One Capital

Debt Sponsor: Questco Proprietary Limited

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