AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Fulfilment of conditions precedent and completion of transaction Fulfilment of conditions precedent and completion of transaction Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron") ACQUISITION BY ALTRON OF UBUSHA TECHNOLOGIES - FULFILMENT OF CONDITIONS PRECEDENT AND COMPLETION OF TRANSACTION Shareholders are referred to the announcement released on SENS on 9 December 2019, relating to the acquisition by Altron of the entire issued share capital of Gydan Investments (RF) Proprietary Limited ("Gydan"), the holding company of Ubusha Technologies Proprietary Limited ("the Transaction"). Shareholders are hereby notified that all conditions precedent to the Transaction as set out in the Share Sale Agreement ("the agreement") have either been fulfilled or waived, as the case may be. Accordingly, the Transaction is now unconditional in accordance with the terms of the agreement, with the closing date being 3 March 2020. Johannesburg 4 March 2020 Sponsor Investec Bank Limited Date: 04-03-2020 09:30:00 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.