Retraction of TR-1 Form

Pan African Resources PLC

(Incorporated and registered in England and Wales under the UK Companies Act 2006 with registration number 3937466 on 25 February 2000)

Share code on AIM: PAF

Share code on JSE: PAN

ISIN: GB0004300496

ADR code: PAFRY

(“Pan African” or the “Company” or the “Group”)

CANCELLATION ANNOUNCEMENTS: RETRACTION OF STANDARD TR-1 FORM

Shareholders are referred to the announcement released by the Company on 1 December2021 (“Announcement”), in response to a ‘TR-1: Standard form for notification of major holding’ (the “Notification”) received by the Company. The Notification and Announcement informed Pan African’s shareholders of the decrease in Ruffer LLP’s (“Ruffer”) shareholding in the Company from 5.22% to 4.49%.

Ruffer has subsequently informed the Company of an error in the Notification and shareholders are advised that Ruffer’s shareholding remains at 5.22% of the Group’s total issued shares.

Accordingly, the Notification and Announcement released on 1 December 2021 in relation thereto is retracted.

Rosebank

3 December 2021

www.panafricanresources.com

Contact information
Corporate Office The Firs Office Building 2nd Floor, Office 204 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office:  + 27 (0)11 243 2900 [e-mail]	Registered Office Suite 31 Second Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0)20 7796 8644
Cobus Loots  Pan African Resources PLC  Chief Executive Officer  Office: + 27 (0)11 243 2900	Deon Louw Pan African Resources PLC Financial Director Office: + 27 (0)11 243 2900
Phil Dexter/Jane Kirton St James's Corporate Services Limited Company Secretary Office: + 44 (0)20 7796 8644	Ross Allister/Alexander Allen Peel Hunt LLP Joint Broker Office: [phone]
Ciska Kloppers Questco Corporate Advisory Proprietary Limited JSE Sponsor Office: + 27 (0)11 011 9200	Thomas Rider/Nick Macann BMO Capital Markets Limited Joint Broker Office: [phone]
Hethen Hira Pan African Resources PLC Head: Investor Relations Tel: + 27 (0)11 243 2900 E-mail: [e-mail]	Website: www.panafricanresources.com