AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Posting of circular to Altron shareholders Posting of circular to Altron shareholders Allied Electronics Corporation Limited (Incorporated in the Republic of South Africa) (Registration number: 1947/024583/06) Share code: AEL ISIN: ZAE000191342 ("Altron" or the "Company") POSTING OF CIRCULAR TO ALTRON SHAREHOLDERS Altron shareholders are advised that the circular to Altron shareholders containing the details of the demerger and separate listing of Bytes Technology Group Limited (now named Bytes Technology Limited), incorporating a notice convening the general meeting, a form of proxy in connection with the general meeting, and the relevant tax declaration and undertaking forms with respect to the dividend liability created in the hands of Altron per section 64FA of the Income Tax Act has been posted today, 3 November 2020 ("the Circular"). Altron shareholders are advised that the Circular is immediately available on Altron´s website: www.altron.com/investors/notices-circulars/. Notice of the General Meeting As a consequence of the impact of the Covid-19 pandemic and the restrictions placed on public gatherings, Altron will conduct the general meeting by way of electronic participation only. Altron shareholders are invited to attend the general meeting, convened in terms of the notice of general meeting incorporated in the Circular, which will be held entirely through electronic communication as permitted by the Companies Act, the Company´s memorandum of incorporation and the JSE Listings Requirements, at 10:00 on Tuesday, 1 December 2020 ("General Meeting"). Altron has retained the services of The Meeting Specialist (Pty) Ltd ("TMS") to host the General Meeting on an interactive electronic platform, in order to facilitate electronic participation by Altron shareholders. A virtual meeting guide for Altron shareholders is attached as an annexure to the Circular. The salient dates and times relating to the Circular and the General Meeting are set out below. Terms in the table and notes below are used as defined in the Circular unless otherwise stated. 2020 Record date to determine which Altron Shareholders are entitled to receive the Circular and notice of General Meeting Friday, 23 October Circular posted to Altron Shareholders and notice convening the General Meeting released on SENS on Tuesday, 3 November Last day to trade in order to be eligible to attend and vote at the General Meeting Wednesday, 18 November Declaration announcement in respect of the Distribution released on SENS Friday, 20 November Declaration announcement in respect of the Distribution released in the South African press on Monday, 23 November Record Date for the General Meeting Monday, 23 November Last day to lodge an electronic participation registration form with TMS, by 10:00 on Thursday, 26 November Last day to lodge forms of proxy, with TMS for administrative purposes, by 10:00 on Friday, 27 November General Meeting to be held via electronic participation as set out in the "Actions Required by Shareholders" section of this Circular at 10:00 on Tuesday, 1 December Last date and time for Altron Shareholders to give notice to Altron objecting to the Disposal and Distribution in terms of section 164(3) of the Companies Act, by 10:00 on Tuesday, 1 December Results of General Meeting released on SENS on Tuesday, 1 December Finalisation announcement in respect of the Distribution released on SENS on Wednesday, 2 December Announcement released on SENS in respect of cash payment for fractional entitlements Wednesday, 2 December If the Disposal and Distribution are approved by Altron Shareholders at the General Meeting and the Suspensive Conditions are fulfilled or waived (where capable of waiver): The following dates assume that no court approval or review of the Disposal or the Distribution is required: Last day to trade in Altron Ordinary Shares in order to be eligible to receive the Distribution Friday, 4 December Altron Ordinary Shares trade ex the entitlement to receive the Distribution on Monday, 7 December Record Date for the Distribution Wednesday, 9 December Expected QIB Notification Time, 12:00 on Wednesday, 9 December Distribution Election Date Wednesday, 9 December Settlement date for the Distribution (Altron to hold Convertible Notes as nominee for Altron Ordinary Shareholders) Thursday, 10 December Admission of the Bytes UK HoldCo Shares to the LSE and commencement of unconditional dealings in Bytes UK HoldCo Shares on the LSE at 8:00 (London time) on Thursday, 17 December Admission of the Bytes UK HoldCo Shares to the JSE and commencement of unconditional dealings in Bytes UK HoldCo Shares on the JSE at 10:00 on Thursday, 17 December Settlement for Conversion of Convertible Notes Thursday, 17 December Payment date for Redemption of Convertible Notes Wednesday, 23 December Fractional entitlement payment date Wednesday, 23 December The following dates assume that court approval or review of the Disposal and Distribution is required: Last day for Altron Shareholders who voted against the Disposal and/or 5 Business Days after the the Distribution to require Altron to seek court approval for the General Meeting, currently Disposal and/or the Distribution in terms of section 115(3)(a) of the anticipated to be Tuesday, Companies Act, if at least 15% of the total votes of Altron Shareholders 8 December at the General Meeting were exercised against the Disposal and the Distribution on Last day for Altron Shareholders who voted against the Disposal and/or 10 Business Days after the the Distribution to apply to the court for a review of the Disposal General Meeting, currently and/or the Distribution in terms of section 115(3)(b) of the Compani e s anticipated to be Tuesday, Act on 15 December Notes: 1. All times shown in the Circular are South African Standard Time unless otherwise stated. 2. All dates and times are subject to change by Altron (subject to the approval of the JSE and/or TRP, if required). Any material change will be released on SENS and published in the South African press. 3. Forms of proxy must be lodged with TMS at email firstname.lastname@example.org, as soon as possible, but by no later than 10:00 on Friday, 27 November 2020. The forms of proxy may also be handed to the Chairman at any time before the commencement of the General Meeting by email to the Altron Company Secretary at email@example.com. 4. Altron Ordinary Share certificates may not be rematerialised or Dematerialised between Monday, 7 December 2020 and Wednesday, 9 December 2020, both days inclusive. 5. The dates have been determined based on certain assumptions regarding the dates by which certain Altron Shareholder and regulatory approvals will be obtained and that no court approval or review of the Disposal and / or Distribution will be required. If the relevant dates change and the dates set out above are therefore impacted, details of the relevant change will be released on SENS and published in the South African press. 6. If the General Meeting is adjourned or postponed, forms of proxy submitted in respect of the General Meeting will remain valid in respect of any adjournment or postponement thereof. 7. Admission of the Bytes UK HoldCo Shares to the JSE and commencement of unconditional dealings in Bytes UK HoldCo Shares on the JSE will commence at 10:00am instead of 9:00am in order to align with the admission time on the LSE and facilitate a simultaneous listing on both exchanges. Johannesburg 3 November 2020 Financial Advisor and Transaction Sponsor Rand Merchant Bank, a division of FirstRand Bank Limited Date: 03-11-2020 12:00:00 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.