SENS ANNOUNCEMENTS DETAILS


Sens Announcements – Details

Short Form Announcement - Unaudited Interim Results for the Period Ended 28 February 2021 and Dividend Declaration

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) Registration Number: 1996/00609306 Share Code: AEEI and ISIN ZAE00001975731 (“AEEI” or “the Group” or “the Company”) – A SEKUNJALO GROUP COMPANY

SHORT FORM ANNOUNCEMENT - UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE PERIOD ENDED 28 FEBRUARY 2021 AND INTERIM DIVIDEND DECLARATION

FINANCIAL HIGHLIGHTS

29 % 28 February February Change 2021 2020 R’000 R‘000 Revenue 1 171 203 1 614 098 (27.44) Net cash utilised in operating (250 375) (138 909) 80.24 activities (Loss)/profit before tax (28 209) 138 926 (120.31) Earnings per share (cents) (12.33) 24.04 (151.29) Headline earnings (32 610) 60 402 (153.99) Headline earnings per share (cents) (6.64) 12.30 (153.99) Normalised headline earnings (6 368) 108 565 (105.87) Normalised headline earnings per share (1.30) 22.11 (105.87) (cents) Net asset value per share (cents) 1 195.81 1 310.98 (8.79) Total assets 6 878 097 7 496 249 (8.25) Gross interim dividend (cents) 30 10 200.00 Interim gross dividend to shareholders 147 307 49 102 200.00

Normalised earnings were calculated as follows:

28 February 29 2021 February R’000 2020 R’000 Headline earnings (32 610) 60 402 Fair value adjustments (46 696) 30 296 Deferred tax on fair value adjustments 10 461 (6 787) Net impairments, impairment reversals and write- 62 477 24 654 offs Normalised headline earnings (6 368) 108 565

DECLARATION OF CASH DIVIDEND

R’000

Dividend declared after reporting date 147 307 Gross Dividends per share (cents) 30

Notice is hereby given that an interim gross dividend of 30 cents per share has been declared out of income reserves in respect of ordinary shares of no-par value for the period ended 28 February 2021. The interim dividend amount, net of South African dividend tax of 20% which equates to 6 cents per share, will be 24 cents per share for those shareholders that are not exempt from dividend tax.

The number of ordinary shares in issue at declaration date is 491 022 434 and the income tax number of the Company is 9 314 001 034.

The salient dates of this dividend distribution are:

Gross dividend per share (cents) 30 Dividend net of dividend withholding tax (cents) 24 Last day to trade cum dividend Monday, 14 June 2021 Trading ex-dividend commences Tuesday, 15 June 2021 Record date Friday, 18 June 2021 Date of payment Monday, 21 June 2021

Share certificates may not be dematerialised or rematerialised between Tuesday, 15 June 2021 and Friday, 18 June 2021, both days inclusive.

STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION

This short-form announcement contains only a summary of the information in the full announcement, does not contain the full and complete details and is the responsibility of the directors.

Shareholders are hereby advised that AEEI’s condensed unaudited consolidated results for the period ended 28 February 2021 are available on AEEI’s website and can be viewed at: https://senspdf.jse.co.za/documents/2021/jse/isse/aee/SENS LF.PDF or may be requested from the company via [email protected] or obtained in person, at no charge, at the registered office of the company or the offices of the joint sponsors during business hours. Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement. APPRECIATION

We wish to thank our employees, Group executives, management, our Board of directors as well as our strategic partners, stakeholders and business partners for their loyalty and dedication in contributing to the success of the Group.

Mrs Aziza Amod Mrs Valentine Dzvova Non-executive chairperson Chief executive officer 27 May 2021

DIRECTORATE AND STATUTORY INFORMATION

Directors *Valentine Dzvova (chief executive officer); Aziza Amod (non-executive Chairman); *Jowayne Van Wyk (chief financial officer); Gaamiem Colbie; Willem Raubenheimer; Bongikhaya Qama *Executive directors Company Secretary: Damien Terblanche Email: [email protected] Business Address 1st Floor, Waterway House North, 3 Dock Road, Victoria and Alfred Waterfront, Cape Town, 8001 Transfer secretaries: JSE Investor Services Proprietary Limited. 13th Floor, 19 Ameshoff Street, Braamfontein, Johannesburg, 2004 Joint Sponsors: Vunani Sponsors Proprietary Limited Vunani House, Vunani Office Park, 151 Katherine Street, Sandown, Johannesburg, 2196 Merchantec Capital 13th Floor, lllovo Point,68 Melville Road, lllovo, 2196

Date: 27-05-2021 05:40:00

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