AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Dealing in securities by Directors and Company Secretary of Altron and its major subsidiaries Dealing in securities by Directors and Company Secretary of Altron and its major subsidiaries Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron") DEALING IN SECURITIES BY DIRECTORS AND COMPANY SECRETARY OF ALTRON AND ITS MAJOR SUBSIDIARIES: ALLOCATION OF SHARE APPRECIATION RIGHTS (SARS) IN TERMS OF THE ALTRON 2009 SHARE PLAN In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: The participants set out below have been awarded off-market allocation of SARs at an allocation price of R20.00 in accordance with the rules of The Altron 2009 Share Plan. The SARs are conditional on, inter alia, share price growth and the fulfilment of performance criteria, as imposed by the Altron Board. Subject to performance, vesting will occur in February 2023, February 2024 and February 2025. Name of director: M Nyati Designation: Chief Executive Name of company: Altron Number of SARs: 519 385 Name of director: C Miller Designation: Chief Financial Officer Name of company: Altron Number of SARs: 239 014 Name of director: AJ Holden Designation: Chief Operating Officer and director of major subsidiary Name of company: Altron TMT Holdings (Pty) Ltd Number of SARs: 253 477 Name of director: MCS Govender Designation: Chief Information Officer and director of major subsidiary Name of company: Altron TMT Holdings (Pty) Ltd Number of SARs: 159 614 Name of director: DS Mashishi Designation: Group Executive: Human Capital and director of major subsidiary Name of company: Altron TMT Holdings (Pty) Ltd Number of SARs: 147 233 Name of director: MZ Maubane Designation: Group Executive: Marketing and director of major subsidiary Name of company: Altron TMT Holdings (Pty) Ltd Number of SARs: 136 967 Name: WK Groenewald Designation: Group Company Secretary Name of company: Altron Number of SARs: 49 180 Allocation date of above transactions 26 February 2020 Acceptance date of above transactions 27 February 2020 Nature of interest for above transactions Direct beneficial Clearance to deal obtained Yes Johannesburg 28 February 2020 Sponsor Investec Bank Limited Date: 28-02-2020 09:00:00 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.