Director/PDMR Shareholding

About this update from Pan African Resources Plc

Pan African Resources PLC (Incorporated and registered in England and Wales under the Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on LSE: PAF Share code on JSE: PAN ISIN: GB0004300496 ADR ticker code: PAFRY (‘Pan African Resources’ or the ‘Company’)   Pan African Resources Funding Company Limited Incorporated in the Republic of South Africa with limited liability Registration number: 2012/021237/06 Alpha code: PARI       DIRECTOR’S DEALINGS IN SECURITIES   DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS   The Company announces that it has received notification that the Chairman of the Board Keith Spencer, disposed of 1,000,000 ordinary shares of 1p each in Pan African Resources on 17 April 2026. Following these transactions, Mr Spencer has a direct beneficial interest of 2,000,000 ordinary shares, representing 0.08570% of the Company's issued share capital. The below information and notification are made in accordance with the EU Market Abuse Regulation and the JSE Listings Requirements.   1.                      Details of the person discharging managerial responsibilities/person closely associated   a) Name: Keith Cousins Spencer   2.                      Reason for the notification   a) Position/status: Chairman b) Initial notification/Amendment: Initial notification 3.                      Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor   a) Company name: Pan African Resources PLC b) LEI: 213800EAXURCXMX6RL85 4.                      Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted   a) Description of the financial instrument, type of instrument:   Ordinary shares of 1p each   Identification code: GB0004300496 b) Nature of the transaction: Disposal of shares   c) Price(s) and volume(s): Disposal of 1,000,000 shares , at various trading prices during the course of the day, with the following price information: -           VWAP of GBP1.57380505 per share -           High of GBP1.6082 per share -           Low of GBP1.5598 per share   d) Aggregated information: Disposal value of GBP1,573,805.04 e) Dates of the transactions: 17 April 2026 f) Place of the transaction: London Stock Exchange   Additional information disclosed in accordance with the JSE Listings Requirements: a) Nature of interest of executive: Direct beneficial b) On-market or off-market: On-market c) Clearance given in terms of paragraph 6.83 of the JSE Listings Requirements: Yes d) Total value of transactions GBP1,573,805.04 e) Holding following transactions: Direct beneficial 2,00,000 ordinary shares       Johannesburg   20 April 2026   For further information on Pan African, please visit the Company's website at www.panafricanresources.com   Corporate information Corporate Office The Firs Building 2nd Floor, Office 204 Corner Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office: + 27 (0)11 243 2900 [email protected] Registered Office 107 Cheapside, 2 nd Floor London, EC2V 6DN United Kingdom Office: + 44 (0)20 3869 0706   [email protected] Chief Executive Officer   Cobus Loots       Office: + 27 (0)11 243 2900                                           Financial Director and debt officer Marileen Kok Office: + 27 (0)11 243 2900 Head: Investor Relations Hethen Hira Tel: + 27 (0)11 243 2900 E-mail: [email protected] Website: www.panafricanresources.com Company Secretary Jane Kirton St James's Corporate Services Limited Office: + 44 (0)20 3869 0706 Joint Broker Ross Allister/Georgia Langoulant Peel Hunt LLP Office: +44 (0)20 7418 8900 JSE Sponsor & JSE Debt Sponsor Ciska Kloppers Questco Corporate Advisory Proprietary Limited Office: + 27 (0) 63 482 3802 Joint Broker Thomas Rider/Nick Macann BMO Capital Markets Limited Office: +44 (0)20 7236 1010   Joint Broker Matthew Armitt/Jennifer Lee Joh. Berenberg, Gossler & Co KG (Berenberg) Office: +44 (0)20 3207 7800  

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