AFRICAN EQUITY EMPOWERMENTINVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE ISIN: ZAE000195731 ("AEEI" or "the Company") RESULTS OF THE ANNUAL GENERAL MEETING Shareholders are advised that, at the Annual General Meeting of AEEI held electronically at 14:00 on Monday, 27 February 2023 (“AGM”): • there were 491 022 434 shares in issue as at the date of the AGM; • the total number of shares that were present in person/represented by proxy at the AGM was 344 152 459 shares being 70.09% of the total number of shares in issue; and • Abstentions are represented below as a percentage of total number of shares in issue, while the sharesvoted for and against are represented below as a percentage of the shares voted. The detailed voting results of the AGM are set out below: Votes for Votes Number of Number of Number of resolution against shares shares shares as a resolution voted at voted at abstained percentage as a the AGM the AGM as as a of total percentage a percentage number of of total percentage of shares shares number of of shares in issue voted at shares voted in issue (%) AGM at AGM (%) (%) (%) Ordinary Resolution Number 1: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-elect the following Director who retires by rotation: Mrs Carin-Lee Geuking Ordinary Resolution Number 2: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-elect the following Director who retires by rotation: Mr Willem Raubenheimer Ordinary Resolution Number 3: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-elect the following Director who retires by rotation: Mr Gaamiem Colbie Ordinary Resolution Number 4: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-elect the following Director who retires by rotation: Mrs Aziza Amod Ordinary Resolution Number 5: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-appoint the following member of the audit and risk committee: Mr Willem Raubenheimer Ordinary Resolution Number 6: 99,99% 0,01% 343 838 012 70,02% 0,06% To re-appoint the following member of the audit and risk committee: Mr Gaamiem Colbie Ordinary Resolution Number 7: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-appoint the following member of the audit and risk committee: Mr Bongikhaya Qama Ordinary Resolution Number 8: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-appoint the following member of the audit and risk committee: Mr Stephen Nthite Ordinary Resolution Number 9: 99,99% 0,01% 344 103 012 70,08% 0,01% To appoint the members of the Social, Ethics and Transformation Committee: Mrs Carin-Lee Geuking-Cohausz Ordinary Resolution Number 10: 99,99% 0,01% 344 103 012 70,08% 0,01% To re-appoint the members of the Social, Ethics and Transformation Committee: Mrs Aziza Amod Ordinary Resolution Number 11: 99,99% 0,01% 343 838 012 70,02% 0,06% To re-appoint the members of the Social, Ethics and Transformation Committee: Ambassador Membathisi Mdladlana Ordinary Resolution Number 12: 99,99% 0,01% 343 838 012 70,02% 0,06% To appoint the members of the Social, Ethics and Transformation Committee: Mr Bongikhaya Qama Ordinary Resolution Number 13: 99,99% 0,01% 344 103 012 70,08% 0,01% The appointment of Crowe JHB and THAWT Inc. as the joint independent auditors of the Company for the ensuing financial year Ordinary Resolution Number 14: 99,99% 0,01% 344 103 012 70,08% 0,01% Control of authorised but unissued “B” ordinary shares Ordinary Resolution Number 15: 99,99% 0,01% 344 103 012 70,08% 0,01% Approval to issue “B” ordinary shares and/or options for cash Ordinary Resolution Number 16: 99,99% 0,01% 344 103 012 70,08% 0,01% Non-binding advisory vote on the remuneration policy Ordinary Resolution Number 17: 99,99% 0,01% 344 103 012 70,08% 0,01% Non-binding advisory vote on the implementation report of the remuneration policy Ordinary Resolution Number 18: 99,99% 0,01% 344 103 012 70,08% 0,01% Directors’ authority to sign documentation Special Resolution Number 1: 99,99% 0,01% 344 103 012 70,08% 0,01% To approve the remuneration of the non- executive directors Special Resolution Number 2: To approve 99,99% 0,01% 344 103 012 70,08% 0,01% inter-company financial assistance SPECIAL RESOLUTION NO. 3: 99,99% 0,01% 344 103 012 70,08% 0,01% To approve financial assistance for the subscription and/or purchase of shares in the Company or in a related or inter-related company SPECIAL RESOLUTION NO. 4: 99,99% 0,01% 344 103 012 70,08% 0,01% Approval for the Company or its subsidiaries to repurchase shares of the Company The board of directors of AEEI, advises shareholders that, all the resolutions, were duly approved by the requisite majority of shareholders present and voting. Cape Town 28 February 2023 Joint Sponsor Vunani Capital Sponsors Joint Sponsor Merchantec Capital