A E C I LIMITED - Report on proceedings at the annual general meeting

Report on proceedings at the annual general meeting

AECI LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1924/002590/06
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(AECI or the Company)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the 102nd annual general meeting of shareholders of AECI (AGM) held today, all of the ordinary resolutions and
special resolutions proposed at the AGM were approved by the requisite majority of votes.

In this regard, AECI confirms the voting statistics from the AGM as follows:

 Resolution                                Votes cast                  Number of      Percentage    Abstentions
                                     For               Against         shares         of shares
                                                                       voted          voted
 Ordinary resolution No. 1:          98.37%            1.63%           88 888 694     84.24%        0.22%
 Re-appointment of Deloitte &
 Touche as the independent
 external auditor
 
 Ordinary resolution No. 2:          99.40%            0.60%           88 888 694     84.24%        0.22%
 Re-election of a non-executive
 director – Mr SA Dawson
 
 Ordinary resolution No. 3:          99.84%            0.16%           88 888 694     84.24%        0.22%
 Confirmation of appointment of
 an executive director –
 Mr I Kramer
 
 Ordinary resolution No. 4.1:        99.77%            0.23%           88 888 694     84.24%        0.22%
 Election of Audit & Risk
 Committee member –
 Ms AM Roets
 
 Ordinary resolution No. 4.2:        99.61%            0.39%           88 888 694     84.24%        0.22%
 Election of Audit & Risk
 Committee member –
 Mr WH Dissinger
 
 Ordinary resolution No. 4.3:        97.48%            2.52%           88 888 694     84.24%        0.22%
 Election of Audit & Risk
 Committee member –
 Mr B Mawasha
 
 Ordinary resolution No. 4.4:        97.29%            2.71%           88 888 694     84.24%        0.22%
 Election of Audit & Risk
 Committee member –
 Mr J Ndlovu
 
 Ordinary resolution No. 5.1:        99.80%            0.20%           88 888 694     84.24%        0.22%
 Election of Social, Ethics &
 Safety Committee member –
 Mr B Mawasha

 Ordinary resolution No. 5.2:        99.67%            0.33%           88 888 694     84.24%        0.22%
 Election of Social, Ethics &
 Safety Committee
 member – Ms PG Sibiya

 Ordinary resolution 5.3:            99.61%            0.39%           88 888 694     84.24%        0.22%
 Election of Social, Ethics & 
 Safety Committee member –
 Mr WH Dissinger
 
 Ordinary resolution No. 5.4:        99.61%            0.39%           88 888 694     84.24%        0.22%
 Election of Social, Ethics &
 Safety Committee member –
 Mr SA Dawson

 Ordinary resolution No. 6.1:        93.64%            6.36%           88 888 694     84.24%        0.22%
 Non-binding advisory resolution:
 Remuneration policy
 
 Ordinary resolution No. 6.2:        93.31%            6.69%           88 888 694     84.24%        0.22%
 Non-binding advisory resolution:
 Implementation report

 Ordinary resolution No. 7:          94.97%            5.03%           88 888 694     84.24%        0.22%
 Directors' authority to implement
 special and ordinary resolutions

 Special resolution No. 1.1:         100.00%           0.00%           88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Board: Chairman

 Special resolution No. 1.2:         100.00%           0.00%           88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Board: Lead Independent
 Director

 Special resolution No. 1.3:         100.00%           0.00%           88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Board: Non-Executive Director

 Special resolution No. 1.4:         100.00%           0.00%           88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Audit & Risk Committee:
 Chairman

 Special resolution No. 1.5:         100.00%           0.00%           88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Remuneration Committee:
 Chairman

 Special resolution No. 1.6:         100.00%           0.00%           88 888 694     84.24%        0.22%
 Non-executive directors' fees – 
 Social, Ethics & Safety
 Committee: Chairman

 Special resolution No. 1.7:         100.00%           0.00%           88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Nominations, Governance &
 Directors' Affairs Committee:
 Chairman
 
 Special resolution No. 1.8:        100.00%           0.00%            88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Strategy & Investment
 Committee: Chairman
 
 Special resolution No. 1.9:        100.00%         0.00%              88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Audit & Risk Committee: Member
 
 Special resolution No. 1.10:       100.00%         0.00%              88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Remuneration Committee:
 Member
 
 Special resolution No. 1.11:       100.00%         0.00%              88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Social, Ethics & Safety
 Committee: Member
 
 Special resolution No. 1.12:       100.00%         0.00%              88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Other Board Committees:
 Member
 
 Special resolution No. 1.13:       100.00%         0.00%              88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Special / ad-hoc meeting
 attendance fee
 
 Special resolution No. 1.14:       100.00%         0.00%              88 888 694     84.24%        0.22%
 Non-executive directors' fees –
 Per-trip allowance
 
 Special resolution No. 2:          94.97%          5.03%              88 888 694     84.24%        0.22%
 Approval of financial assistance
 to related or inter-related
 company
 
 Special resolution No. 3:          78.08%          21.92%             88 888 694     84.24%        0.22%
 General authority to repurchase
 Company ordinary shares

Notes:
   - The total issued share capital of AECI is 105 517 780 listed ordinary shares and 3 000 000 listed cumulative
     preference shares.
   - Percentages of shares voted are calculated in relation to the total issued ordinary share capital of AECI.
   - Percentages of shares voted for and against are calculated in relation to the total number of ordinary shares
     voted in respect of each resolution.
   - Abstentions are calculated as a percentage in relation to the total issued ordinary share capital of AECI.


Woodmead, Sandton
27 May 2026

Equity Sponsor: One Capital

Debt Sponsor: Questco Proprietary Limited

Date: 27-05-2026 05:35:00
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