Afrimat Limited (JSE:AFT) News - Results of the annual general meeting and changes to the board and board committee AFRIMAT LIMITED Incorporated in the Republic of South Africa (Registration number: 2006/022534/06) Share code: AFT ISIN: ZAE000086302 (“Afrimat” or “the Company”) RESULTS OF THE ANNUAL GENERAL MEETING AND CHANGES TO THE BOARD AND BOARD COMMITTEE Shareholders are hereby advised that the results of the voting at the annual general meeting of the Company held at 14:00 today, Wednesday, 3 August 2022 at the Protea Hotel, Durbanville, 99 Jip De Jager Drive, Vineyards Office Estate, Tyger Valley, 7530 (“AGM”), are as follows: Votes Votes for against resolution resolution as a as a Number of Number of percentage percentage shares shares of total of total voted at abstained number of number of Number of AGM as a as a Resolutions shares shares shares percentage percentage proposed at the voted at voted at voted at of shares in of shares in AGM AGM AGM AGM issue* issue* Ordinary resolution number 1: To adopt the 2022 annual financial statements 100% 0% 111 833 077 76.42% 0.29% Ordinary resolution number 2: To re-elect Mr Gert J Coffee as a director 93.94% 6.06% 111 833 434 76.42% 0.29% Ordinary resolution number 3: To elect Ms Sisanda Tuku as a director 100% 0% 111 833 434 76.42% 0.29% Ordinary resolution number 4: To elect Mr Marthinus G Odendaal as a director 96.92% 3.08% 111 833 434 76.42% 0.29% Ordinary resolution number 5: To re-appoint Mr Loyiso Dotwana as a member of the Audit & Risk Committee 91.42% 8.58% 111 833 834 76.42% 0.29% Ordinary resolution number 6: 93.03% 6.97% 111 833 834 76.42% 0.29% To re-appoint Mr Francois M Louw as a member of the Audit & Risk Committee Ordinary resolution number 7: To re-appoint Mr Jacobus F van der Merwe as a member of the Audit & Risk Committee 100% 0% 111 833 834 76.42% 0.29% Ordinary resolution number 8: To appoint Ms Sisanda Tuku as a member of the Audit & Risk Committee 100% 0% 111 833 434 76.42% 0.29% Ordinary resolution number 9: To appoint PricewaterhouseCo opers Inc. as auditor 97.13% 2.87% 111 158 834 75.96% 0.75% Ordinary resolution number 10: Non-binding endorsement of Afrimat’s remuneration policy 86.68% 13.32% 111 833 777 76.42% 0.29% Ordinary resolution number 11: Non-binding endorsement of Afrimat’s implementation report on the remuneration policy 94.45% 5.55% 111 833 777 76.42% 0.29% Ordinary resolution number 12: To authorise the directors or the Company Secretary to sign documentation 100% 0% 111 833 434 76.42% 0.29% Ordinary resolution number 13: To place unissued shares under the directors’ control 64.28% 35.72% 111 831 434 76.42% 0.29% Ordinary resolution number 15: Approval of the amendment of the Afrimat Limited Forfeitable Share Plan 100% 0% 111 829 366 76.41% 0.29% Ordinary resolution number 16: Approval of the amendment of the Afrimat Limited Share Appreciation Right Plan 100% 0% 111 829 366 76.41% 0.29% Special resolution number 1: Remuneration of Chairman of the Board 99.56% 0.44% 111 834 177 76.42% 0.29% Special resolution number 2: Remuneration of Deputy Chairman of the Board 98.21% 1.79% 111 834 177 76.42% 0.29% Special resolution number 3: Remuneration of non-executive directors 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 4: Remuneration of Chairman of the Audit & Risk Committee 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 5: Remuneration of Audit & Risk Committee members 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 6: Remuneration of Chairman of the Remuneration Committee 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 7: Remuneration of Chairman of the Nominations Committee 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 8: Remuneration of Remuneration & Nominations Committee members 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 9: Remuneration of Chairman of the Social, Ethics and Sustainability Committee 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 10: Remuneration of Social, Ethics and Sustainability Committee members 99.56% 0.44% 111 834 177 76.42% 0.29% Special resolution number 11: Remuneration of Chairman of the Investment Review Committee 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 12: Remuneration of Investment Review Committee members 99.56% 0.44% 111 833 066 76.42% 0.29% Special resolution number 13: Ad hoc remuneration of members of the Board under rare circumstances 91.47% 8.53% 111 833 066 76.42% 0.29% Special resolution number 14: Inter-company financial assistance 99.56% 0.44% 111 833 434 76.42% 0.29% Special resolution number 15: Financial assistance for the subscription and/or purchase of shares in the Company or a related or inter- related company 89.99% 10.01% 111 833 434 76.42% 0.29% Special resolution number 16: Share repurchases by Afrimat and its subsidiaries 98.17% 1.83% 111 833 834 76.42% 0.29% Note: *Total number of shares in issue as at the record date of the AGM was 146 346 264, of which 8 267 748 were treasury shares. As announced on SENS on 28 July 2022, the Company recently completed a successful capital raise in terms of its previous general authority to issue shares for cash, granted at its 2021 annual general meeting. The Afrimat board of directors (“the Board”) does not anticipate raising additional capital in terms of a general authority to issue shares for cash in the upcoming financial year. In light of this and taking into account shareholder feedback, the Board decided to withdraw ordinary resolution number 14, relating to such authority, at the AGM. CHANGES TO THE BOARD AND BOARD COMMITTEE In accordance with paragraph 3.59(c) of the JSE Limited Listings Requirements, the Board wishes to advise shareholders of the following changes to the Board and the Board Committee, which have been approved by the Board, and are effective immediately: Lead Independent Director: Mr Jacobus F (Derrick) van der Merwe, has been appointed as the lead independent director of the Board. Remuneration and Nomination Committee: Mr Johannes H van der Merwe has been appointed as a member of the Remuneration and Nomination Committee of the Company. The Board congratulates these directors on their appointments and looks forward to their continued contribution to the Company. Cape Town 4 August 2022 Sponsor PSG Capital Date: 04-08-2022 11:10:00 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.