A E C I LIMITED - Changes to board committees

Changes to board committees

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)

CHANGES TO BOARD COMMITTEES

In compliance with paragraph 3.59(c) of the JSE Limited Listings Requirements, the AECI board of directors (Board)
advises the Company's shareholders that, as part of its ongoing commitment to strengthening corporate governance
and enhancing effectiveness and efficiency, the Board has resolved to (i) appoint Mr Walter Dissinger as the Lead
Independent Director, as well as a member of the Nominations, Governance and Directors' Affairs Committee; (ii)
rename the Remuneration and HR Committee as the Remuneration Committee and appoint Mr Billy Mawasha as a
new member of this committee; and (iii) reconstitute certain of the Company's Board committees as follows:

    -   the Audit Committee and the Risk Committee have been combined to form a new Audit and Risk Committee,
        comprising Ms Marna Roets (chair), Mr Walter Dissinger, Ms Fikile De Buck, Ms Patricia O' Brien and
        Ms Nombulelo Moholi;
    -   the Social, Ethics and Sustainability Committee and the Environmental, Health and Safety Committee have
        been combined to form a new Social, Ethics and Safety Committee, comprising Mr Billy Mawasha (chair),
        Mr Steve Dawson, Mr Sam Coetzer, Ms Fikile De Buck and Ms Patricia O'Brien; and
    -   the Investment, Innovation and Technology Committee has been replaced by the Strategy and Investment
        Committee, comprising Mr Steve Dawson (chair), Ms Philisiwe Sibiya, Mr Sam Coetzer, Mr Walter Dissinger,
        Mr July Ndlovu and Ms Nombulelo Moholi.

The above changes have been instituted with effect from Friday, 7 November 2025.


Woodmead, Sandton
10 November 2025

Equity Sponsor: One Capital

Debt Sponsor: Questco Proprietary Limited

Date: 10-11-2025 03:00:00
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