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) REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING At the 98th Annual General Meeting (AGM) of the shareholders of AECI held today, 31 May 2022, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. In this regard, AECI confirms the voting statistics from the AGM as follows: Resolutions Votes cast disclosed as a Number of shares Shares voted Shares percentage in relation to the voted disclosed as abstained total number of shares voted a percentage disclosed as a at the meeting in relation to percentage in the total relation to the Ordinary shares (Ord) issued share total issued B ordinary shares (B Ord) capital (%)* share capital Ordinary (%)* shares (Ord) Ordinary shares B ordinary (Ord) shares (B B ordinary Ord) shares (B Ord) For (%) Against (%) Ordinary resolution No. 1: 96,63 Ord 3,37 Ord 88 537 420 Ord 83,91 Ord 0.02 Ord Reappointment of 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0.00 B Ord independent auditor Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 920 Ord 83,91 Ord 0,02 Ord 2.1: Re-election of Non- 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord executive Director – Dr KDK Mokhele Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 920 Ord 83,91 Ord 0,02 Ord 2.2: Re-election of Non- 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord executive Director – Mr SA Dawson Ordinary resolution No. 99,99 Ord 0.01 Ord 88 536 920 Ord 83.91 Ord 0.02 Ord 2.3: Re-election of Non- 100.00 B Ord 0.00 B Ord 10 117 951 B Ord 100.00 B Ord 0.00 B Ord executive Director – Mr WH Dissinger Ordinary resolution No. 3: 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord Appointment of 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Ms PA Mishic O’Brien as a Non-executive Director Ordinary resolution No. 4: 99,84 Ord 0,16 Ord 88 537 413 Ord 83,91 Ord 0,02 Ord Election of 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Ms A Takoordeen as an Executive Director Ordinary resolution No. 5: 99,99 Ord 0,01 Ord 88 536 920 Ord 83,91 Ord 0,02 Ord Re-election of KM Kathan 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord as an Executive Director Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord 6.1: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Committee member – Ms FFT De Buck Ordinary resolution No. 99,97 Ord 0,03 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord 6.2: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Committee member – Mr G Gomwe Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord 6.3: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Committee member – Ms AM Roets Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord 6.4: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Committee member – Ms PG Sibiya Ordinary resolution 95,17 Ord 4,83 Ord 88 535 913 Ord 83,91 Ord 0,02 Ord No.7.1: Remuneration 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Policy Ordinary resolution 95,25 Ord 4,75 Ord 88 535 913 Ord 83,91 Ord 0,02 Ord No.7.2: Implementation 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord of Remuneration Policy Ordinary resolution 99,74 Ord 0,26 Ord 88 499 692 Ord 83,87 Ord 0,06 Ord No.8: Approval of the 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord amended rules of the 2012 Long-term Incentive Plan Special resolution No. 1.1: 96,66 Ord 3,34 Ord 88 510 286 Ord 83,88 Ord 0,05 Ord Directors’ fees and 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord remuneration - Board: Chairman Special resolution No. 1.2: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord Directors’ fees - Board: 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Non-executive Directors Special resolution No. 1.3: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord Directors’ fees - Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Committee: Chairman Special resolution No. 1.4: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord Directors’ fees - Other 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Board Committees: Chairman Special resolution No. 1.5: 99,99 Ord 0.01 Ord 88 501 349 Ord 83.87 Ord 0.05 Ord Directors’ fees - Audit 100,00 B Ord 0.00 B Ord 10 117 951 B Ord 100.00 B Ord 0.00 B Ord Committee: member Special resolution No. 1.6: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord Directors’ fees - Other 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord Board Committees: member Special resolution No. 1.7: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord Directors’ fees - Meeting 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord attendance fee (includes ad hoc meetings) Special resolution No. 1.8: 100,00 Ord 0,00 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord Directors’ fees - Per-trip 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord allowance Special resolution No. 2: 99,94 Ord 0,06 Ord 88 371 850 Ord 83,75 Ord 0,18 Ord General authority to 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord repurchase shares Special resolution No. 3: 100,00 Ord 0,00 Ord 88 537 570 Ord 83,91 Ord 0,02 Ord Financial assistance to 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord related or inter-related company * The issued ordinary share capital is 105 517 780 listed ordinary shares, 10 117 951 unlisted redeemable convertible B ordinary shares and 3 000 000 listed cumulative preference shares. The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course. Woodmead, Sandton 31 May 2022 Equity and Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)