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: ZAE00000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(AECI or the Company)

CHANGES TO BOARD COMMITTEES

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, AECI shareholders and noteholders are
hereby advised of the following changes to the committees of the Company's Board of Directors (Board) with effect
from the conclusion of the annual general meeting of the Company to be held on or about 27 May 2025.

        •   As a result of her election as chairperson of the Board, and in compliance with the recommendations
            of the King IV Report on Corporate Governance for South Africa, 2016, Ms Philisiwe Sibiya will resign
            as chairperson and as a member of the Audit Committee and will be replaced in these roles by
            Ms Marna Roets. Furthermore, Ms Sibiya will be appointed as chairperson of the Nominations,
            Governance and Directors' Affairs Committee and the Investment, Innovation and Technology Committee,
            as well as a new member of both the Remuneration and Human Capital Committee and the Social, Ethics
            and Sustainability Committee.

        •   Ms Roets will resign as both chairperson of the Remuneration and Human Capital Committee and as
            a member of the Social, Ethics and Sustainability Committee, with Mr July Ndlovu assuming the role of
            chairperson of the Remuneration and Human Capital Committee going forward. Ms Roets will remain
            a member of the Remuneration and Human Capital Committee and will be appointed as a new member
            of the Risk Committee.

        •   Mr Walter Dissinger will be appointed as a new member of the Audit Committee.

        •   Mr Billy Mawasha will be appointed as a new member of the Social, Ethics and Sustainability
            Committee.


Woodmead, Sandton
3 April 2025

Equity Sponsor: One Capital

Debt Sponsor: Questco Corporate Advisory

Date: 03-04-2025 02:00:00
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