AfroCentric Investment : Dealings relating to vesting of shares under the AfroCentric LTIP

AfroCentric Investment Corporation Limited (Incorporated in the Republic of South Africa) (Registration number 1988/000570/06)

JSE Code: ACT ISIN: ZAE000078416 ("the Company" or "AfroCentric")

Dealings in securities by Directors of Afrocentric and a Director of a major subsidiary of AfroCentric relating to vesting of shares under the AfroCentric Long Term Incentive Plan ("LTIP")

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the Company hereby discloses the following trades by Directors and a Director of a Major Subsidiary of AfroCentric relating to the acceptance of Share Awards awarded in terms of the rules of the AfroCentric Long Term Incentive Plan ("LTIP") and are advised of the following information relating to the vesting of Share Awards in respect of the first* and second** tranches (being 1/3rd of Share Awards after the expiry of the Retention Period i.e. in years 3* (three) and 4** (four) after Award Date). The price per share, for purposes of determining the market value, is the 30 day VWAP price per AfroCentric shares on 18 March 2022 being

481 cents per share:

Name of director: Designation:

Date of transaction: Nature of transaction:

Class of security: Number of securities: Price per security:

Value of transaction: Nature of interest: Clearance obtained:

Name of director: Designation:

Date of transaction: Nature of transaction:

Class of security: Number of securities: Price per security:

Value of transaction: Nature of interest: Clearance obtained:

Name of director: Designation:

Date of transaction: Nature of transaction:

Ahmed Banderker*

Chief Executive Officer of AfroCentric 18 March 2022

Acceptance of Share Awards in terms of the Company's LTIP (first tranche)

Ordinary shares 166 667

481 cents per share

R801 668.27 Direct Beneficial Yes

Hannes Boonzaaier**

Executive Director of AfroCentric 18 March 2022

Acceptance of Share Awards in terms of the Company's LTIP (second tranche)

Ordinary shares 133 334

481 cents per share

R641 336.54 Direct Beneficial Yes

Aklaaq Ahmed Mahmood**

Executive Director of Medscheme, a major subsidiary of the Company

18 March 2022

Acceptance of Share Awards in terms of the Company's LTIP (second tranche)

Class of security:

Number of securities:

Price per security:

Value of transaction:

Nature of interest:

Clearance obtained:

Johannesburg

22 March 2022

JSE Sponsor to AfroCentric

Ordinary shares 100 000

481 cents per share

R481 000.00 Direct Beneficial Yes

Questco Corporate Advisory Proprietary Limited