A E C I LIMITED - Dealings in securities on behalf of the AECI Long-Term Incentive Plan (the LTIP)

Dealings in securities on behalf of the AECI Long-Term Incentive Plan (the LTIP)

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 ON BEHALF OF THE AECI LONG-TERM INCENTIVE PLAN (THE LTIP)

In compliance with the JSE Limited Listings Requirements and Debt Listings Requirements, shareholders and
noteholders are advised that AECI had entered into an agreement with Investec Bank Limited (Investec), an
independent third party broking firm, to purchase AECI ordinary shares (Shares) on behalf of the LTIP, in order to
settle the obligations to its participants in respect of the Performance Shares (as defined in the rules of the LTIP)
that will vest on 16 April 2021, in a non-dilutive manner in accordance with the rules of the LTIP.

The following information is disclosed in compliance with the Listings Requirements:

Name of share scheme:                    LTIP
Company:                                 AECI
Nature of transaction:                   On-market purchase of Shares by Investec on behalf of the LTIP to settle
                                         the obligations to the LTIP participants
Class of securities:                     Ordinary shares
Extent of interest:                      Indirect non-beneficial (purchased by Investec acting as agent on behalf of
                                         the AECI LTIP vesting account)
Clearance to deal obtained:              Yes

          Date of          No. of shares          VWAP         Price           Price             Value of
      transaction               acquired                        High             Low          transaction
   18 March 2021                  64 634     R101,7130     R103,7200       R100,6200      R6 574 118,0420
   19 March 2021                 182 239     R101,6552     R103,0300       R101,0300     R18 525 541,9928
   23 March 2021                  90 717     R100,8745     R101,8600        R99,9700      R9 151 032,0165
   24 March 2021                 154 464      R99,8966     R102,3200        R98,9200     R15 430 426,1054

Woodmead, Sandton
25 March 2021

Equity and Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 25-03-2021 10:45:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.