AECI Limited – Notification of the Availability of the Sustainability Compliance Certificate and Sustainability Margin Adjustment Event

AECI LIMITED

(Incorporated in the Republic of South Africa)

Registration number: 1924/002590/06

Company code: AECI

LEI: 3789008641F1D3D90E85

Bond code: AECI05ISIN: ZAG000199258

Bond code: AECI06ISIN: ZAG000199266

(AECI or the Company)

NOTIFICATION OF THE AVAILABILITY OF THE SUSTAINABILITY COMPLIANCE CERTIFICATE
AND SUSTAINABILITY MARGIN ADJUSTMENT EVENT

Notice is hereby given to each noteholder of ZAR535,000,000 senior unsecured
floating rate notes due 11September2026 (AECI05) and ZAR465,000,000 senior
unsecured floating rate notes due 11September2028 (AECI06), (together referred
to as the Notes), issued under the Company’s ZAR5,000,000,000 Domestic Medium
Term Note Programme, pursuant to the section headed «Terms and Conditions of the
Notes» (the Terms and Conditions) in the programme memorandum dated 12 December
2024, as amended and restated from time to time, read with each of the amended
and restated applicable pricing supplements in respect of the Notes (the
Applicable Pricing Supplements), of the availability of the Sustainability
Compliance Certificate (as defined in the Applicable Pricing Supplements) for
the financial year ended 31December2025, on the Company’s website at
https://investor.aeciworld.com/debt-investors.php. A copy of the accompanying
Sustainability Assurance Report is also available on the Company’s website at
https://investor.aeciworld.com/results-reports-presentations.php#integrated
-annual
-reports (https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Finves
tor.aeciworld.com%2Fresults-reports-presentations.php%23integrated-annual
-reports&data=05%7C02%7Ctaryn.carter%40questco.co.za%7Ca06cc06768bb46bad17808dd87
b38b1c%7C4fbd944fe6b945e38dfb214a67050028%7C1%7C1%7C638815927407582566%7CUnknown%
7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjo
iTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=UvZ7jREEUzGE5l%2BgKQpVJlJwgBR2Es1cak
q2WOnhzts%3D&reserved=0).

Capitalised terms used herein which are not otherwise defined shall bear the
meaning ascribed thereto in the Terms and Conditions and/or the Applicable
Pricing Supplements.

Noteholders are advised that, as a result of AECI having achieved none of the
SPTs in respect of each of the three KPIs for the financial year ended 31
December 2025, the Initial Margin applicable to the Notes shall be increased by
10 (ten) basis points and will apply for the Interest Period commencing after
the Sustainability Compliance Certificate Delivery Date, being 11June2026.

The Company did not achieve its SPTs for Carbon Footprint Efficiency and
Effluent Discharge Efficiency for the reporting period, primarily due to
operational variability which resulted in fixed environmental loads being
distributed across lower production volumes, thus adversely affecting efficiency
ratios. In addition, actual production volumes were lower than the levels
assumed during the target setting phase. Assumed production levels were based on
AECI’s strategic ambition at the time to achieve a double EBITDA growth
trajectory, as well as an expected return to pre-COVID production levels.

The Group marginally missed its SPT for female representation, achieving 1
percent below the applicable SPT. This shortfall was primarily attributable to
organisational restructuring and divestments undertaken during 2025, which
impacted workforce composition at management level. Notwithstanding this
outcome, the Company remains committed to advancing gender diversity and
continues to implement targeted initiatives to support the progression and
retention of female talent across the organisation.

Accordingly, the Margins applicable to the Notes for the Interest Period
commencing on 11June2026 are as follows:

Bond code: AECI05
ISIN: ZAG000199258
Margin: 3 Month ZAR-JIBAR plus 149 basis points

Bond code: AECI06
ISIN: ZAG000199266
Margin: 3 Month ZAR-JIBAR plus 160 basis points

Woodmead, Sandton

22 April 2026

Debt Sponsor: Questco Corporate Advisory

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