Issue of New Ordinary Shares, AIM application...

About this update from Pan African Resources Plc

Pan African Resources PLC         Pan African Resources Funding Company (Incorporated and registered in England and Wales   Limited under Companies Act 1985 with registered     Incorporated in the Republic of South Africa number 3937466 on 25 February 2000)       with limited liability Share code on AIM: PAF           Registration number: 2012/021237/06 Share code on JSE: PAN           Alpha code: PARI ISIN: GB0004300496 ADR code: PAFRY ("Pan African" or "the Company" or "the Group")   Issue of New Ordinary Shares, AIM application and Total Voting Rights Pursuant to the announcement on 5 November 2024 and following the shareholder approvals at the AGM on 21 November 2024, the Company shall issue 112,813,217 New Ordinary Shares to the Sellers of TCMG, equivalent to a price per New Ordinary Share of pence, being the 30 day volume weighted average price as at 6 December 2024. Application has been made to the London Stock Exchange and the JSE Limited for admission to trading on AIM and the JSE Main Board for the aggregate 112,813,217 new Ordinary Shares detailed above (" Admission "), and Admission is expected to become effective and trading will commence in the New Ordinary Shares   on or around 10 December 2024. The new Ordinary Shares will be issued free of all liens, charges and encumbrances and will, on Admission, rank pari passu in all respects with the Company's existing Ordinary Shares. Following Admission, the Company's issued share capital will comprise of 2,335,675,263 Ordinary Shares, of which 306,358,058 are held in treasury. Accordingly, the figure of 2,335,675,263 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The number of shares outstanding for purposes of calculating Earnings per share and Headline earnings per share will be 2,029,317,205. Terms used but not defined in this announcement have the same meaning as set out in the Company's announcement released on 5 November 2024.   Rosebank 9 December 2024 For further information on Pan African Resources, please visit the Company's website at www.panafricanresources.com Corporate information Corporate office The Firs Building 2nd Floor, Office 204 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office: + 27 (0)11 243 2900 [email protected] Registered office 2 nd Floor 107 Cheapside 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 Nominated adviser and joint broker Ross Allister/Georgia Langoulant Peel Hunt LLP Office: +44 (0)20 7418 8900 JSE Sponsor and 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 Office: +44 (0)20 3207 7800    

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