Aveng Group Limited (JSE:AEG) News - Cautionary Announcement AVENG LIMITED Incorporated in the Republic of South Africa (Registration number: 1944/018119/06) ISIN: ZAE000302618 SHARE CODE: AEG ("Aveng" or "the Company") Cautionary Announcement Shareholders are hereby advised that the Company is in advanced negotiations, with a credible buyer, to dispose of Trident Steel, a division of Aveng Africa (Proprietary) Limited, as a going concern. The due diligence is well advanced and will be completed as soon as possible. The transaction is subject to the conclusion of BEE participation in the transaction and the completion of legal agreements. The transaction will be subject to conditions precedent usual for transactions of this nature. If successfully concluded, the transaction may have a material effect on the price of the Company’s securities. The disposal of Trident Steel is in line with Aveng’s 2018 strategy of disposing assets which are deemed non- core to the Company. To date, Aveng has disposed of non-core assets with combined proceeds of more than R1 billion. Trident Steel is the sole material asset still to be disposed of in terms of the strategy. The value of the transaction is expected to exceed Trident Steel’s reported net asset value as per the 2022 Aveng interim results. The proceeds from the transaction will be utilised to settle remaining external debt in South Africa, create further liquidity and strengthen the financial position of Aveng. Shareholders are, accordingly, advised to exercise caution when dealing in the Company’s securities until a further announcement is made. 13 June 2022 Melrose Arch JSE Sponsor Investec Bank Limited Itumeleng Lepere Stakeholder Engagement Lead Tel: 011 779 2800 Email: investor.relations@avenggroup.com Date: 13-06-2022 07:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.