AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1996/006093/06) Share Code: AEE ISIN ZAE000195731 (“AEEI” or “the Company”) SCHEME FINALISATION DATE ANNOUNCEMENT 1. INTRODUCTION 1.1 AEEI Shareholders are referred to: 1.1.1 the various announcements released on SENS relating to the offer by AEEI to all Eligible Shareholders to acquire AEEI Shares (other than those Shares held by the Concert Parties) by way of a scheme of arrangement between AEEI and Eligible Shareholders (“Scheme”) in terms of section 114(1)(e) of the Companies Act, read with section 115 thereof, in terms of which such Shareholders were entitled to elect that all or some of the Shares held by them be repurchased for a cash consideration of R1.15 per Share, or that they elect to retain all or some of the Shares held by them and, failing such election, would be deemed to have elected that all of their Shares are repurchased for a cash consideration of R1.15 per Share and the subsequent Delisting of the Company, the last of which is referred to in paragraph 1.1.3 below; 1.1.2 the circular to Shareholders containing details of the Scheme and the Delisting (“Circular”) which was distributed to AEEI Shareholders on 31 January 2024; and 1.1.3 the announcement released on SENS on Thursday, 29 February 2024 setting out the results of the General Meeting, being that, among other things, all of the Resolutions as set out in the Notice of General Meeting were passed by the requisite majority of Shareholders save for Special Resolution Number 2, ‘Revocation of Special Resolution Number 1’. 1.2 Unless expressly defined in this announcement, capitalised terms herein have the meaning ascribed to them in the Circular. 2. FULFILMENT OF SCHEME CONDITIONS 2.1 Shareholders are hereby advised that all Scheme Conditions, as set out in paragraph 5.3 of the Circular, have been fulfilled. 2.2 The compliance certificate in terms of sections 119(4)(b) and 121(b) of the Companies Act was received from the TRP on 25 March 2024. 3. SALIENT DATES AND TIMES 3.1 The salient dates and times relating to the Scheme and the Delisting as set out in the Circular have been amended. The amended dates are set out below: 2024 Date on which the Scheme the TRP compliance certificate was received Monday, 25 March Scheme Finalisation Date Announcement released on SENS by 11:00 on Wednesday, 27 March Scheme Finalisation Date Announcement published in the South African press on Thursday, Thursday, 2813 July 2023 March Scheme Last Day to Trade Tuesday, 9 April Trading in AEEI Shares on the JSE suspended from commencement of trade to be on Wednesday, 10 26 April July 2023 Scheme Consideration Record Date, being the date on which Scheme Participants must be recorded in the Register in order to be eligible to receive the Scheme Consideration, by close of business on Friday, 12 April Elections to be received by 12:00 on Friday, 12 April Operative Date Monday, 15 April Scheme Consideration to be settled by electronic funds transfer to Scheme Participants who hold Certified Exit Election Shares who have lodged their Form of Surrender and Transfer (white) with the Transfer Secretaries on or prior to 12:00 on the Scheme Consideration Record Date Monday, 15 April Scheme Participants who hold Dematerialised Exit Election Shares will have their accounts with their CSDP or Broker credited with the Scheme Consideration on Monday, 15 April Termination of listing of AEEI Shares on the JSE at commencement of trade on Tuesday, 16 April 4. RESPONSIBILITY STATEMENT The Independent Board and the Board, individually and collectively, accept responsibility for the information contained in this announcement, which relates to AEEI, the Scheme and the Delisting, and certify that to the best of their knowledge and belief, such information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of such information. Cape Town 27 March 2024 Legal Advisors Smith Tabata Buchanan Boyes Inc. Sponsor and Corporate Advisor Vunani Capital Sponsors Joint Sponsor Merchantec Capital 2