Sens Announcements – Details

Short Form Announcement - Reviewed Results for the Year Ended 31 August 2021 and Dividend Declaration

African Equity Empowerment Investments Limited (Incorporated in the Republic of South Africa) Registration number 1996/006093/06 Share code: AEE and ISIN: ZAE000195731 (“AEEI” or “the Group” or “the Company”)

SHORT FORM ANNOUNCEMENT - REVIEWED PROVISIONAL CONDENSED CONSOLIDATED ANNUAL RESULTS FOR THE YEAR ENDED 31 AUGUST 2021 AND FINAL DIVIDEND DECLARATION

FINANCIAL HIGHLIGHTS

31 August 31 August % 2021 2020 Change R’000 R‘000 Revenue 2 339 169 3 427 579 (31.75) Net cash (utilised)/generated from (195 609) 199 642 (197.98) operating activities (Loss)/Profit before tax (180 849) 111 155 (262.70) Earnings per share (cents) (26.48) 1.93 (1 472.70) Headline earnings (124 652) 4 554 (2 837.21) Headline earnings per share (cents) (25.39) 0.93 (2 829.71) Normalised headline earnings* (36 569) 174 832 (120.92) Normalised headline earnings per share (7.45) 35.61 (120.92) (cents) Net asset value per share (cents) 1 102.54 1 256.46 (12.25) Total assets 6 449 826 7 211 679 (10.56) Gross final dividend (cents) 10 20 (50.00) Final gross dividend to shareholders 49 102 98 204 (50.00) Total gross dividend to shareholders 40 30 33.33 (cents) Total gross dividend to shareholders 196 408 147 307 33.33

*Normalised earnings were calculated as follows:

31 August 31 August 2021 2020 R’000 R’000 Headline earnings (124 652) 4 554 Fair value adjustments (57 277) 108 558 Deferred tax on fair value adjustments 12 830 (24 317) Net impairments, impairment reversals and write-offs 132 531 86 037 Normalised headline earnings (36 569) 174 832

Shareholders are hereby advised that AEEI’s reviewed provisional condensed consolidated results for the year ended 31 August 2021 are available on AEEI’s website at https://aeei.co.za/sens-announcement/ and can be viewed at https://senspdf.jse.co.za/documents/2021/jse/isse/aee/SENSLF.pdf

DECLARATION OF FINAL ORDINARY DIVIDEND

R’000

Dividend declared after reporting date R49.1M Gross Dividends per share (cents) 10

Notice is hereby given that a final gross dividend of 10 cents per share has been declared out of income reserves in respect of ordinary shares of no-par value for the year ended 31 August 2021.

The final dividend amount, net of South African dividend tax of 20% which equates to 2 cents per share, is therefore 8 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 9314001034.

The salient dates of this dividend distribution are:

Gross dividend (cents per share) 10 Dividend net of dividend withholding tax 8 Last day to trade cum dividend Tuesday, 28 December 2021 Trading ex-dividend commences Wednesday, 29 December 2021 Record date Friday, 31 December 2021 Date of payment Friday, 3 January 2022

Share certificates may not be dematerialised or rematerialized between Wednesday, 29 December 2021 and Friday, 31 December, 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 and does not contain the full and complete details and is the responsibility of the directors.

The condensed consolidated financial statements were reviewed by Thawt Inc. and Crowe Jhb Inc. whose unmodified review opinion has been issued on the reviewed provisional condensed consolidated financial statements for the financial year ended 31 August 2021.

Please refer to the full announcement for additional information. The full announcement has been released on SENS and is also available for viewing on AEEI’s website at https://aeei.co.za/sens-announcement/ or may be requested from the company via [email protected] or obtained in person, at no charge during office hours, at the registered office of the company or can be obtained electronically from either of the joint sponsors by sending an email to [email protected] or [email protected] during business hours. Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement.

30 November 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: Stephen Nthite (appointed 26 August 2021); Membathisi Mdladlana (appointed 27 August 2021) *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, Western Cape, 8001 Transfer secretaries: Link Market Services South Africa Proprietary Limited, Rennie House, 13th Floor, 19 Ameshoff Street, Braamfontein, 2001 Joint Auditors: Crowe JHB 3 Sandown Valley Crescent, Sandown, Johannesburg, 2196 Thawt Inc. 3 Monte Vista Blvd, Monte Vista, Cape Town, 7460 Joint Sponsors: Vunani Capital 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: 01-12-2021 07:40:00

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