AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE ISIN: ZAE000195731 (“the Company”) Cautionary Announcement Shareholders are advised that the Company has entered into discussions regarding a potential disposal which, if successfully concluded, may have material effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made. Cape Town 5 August 2022 Joint Sponsor Vunani Sponsors Joint Sponsor Merchantec Capital