Merafe Resources Limited (Incorporated in the Republic of South Africa) (Registration number: 1987/003452/06) JSE and A2X share code: MRF ISIN: ZAE000060000 (“Company”) FERROCHROME PRICE ANNOUNCEMENT FOR THE FIRST QUARTER OF 2024 Shareholders of the Company are advised that the European benchmark ferrochrome price for the first quarter of 2024 has been settled at 144 US cents per pound, a decrease of 5.9% from the fourth quarter of 2023. Sandton 27 December 2023 Sponsor One Capital