Bauba Resources Limited                                Raubex Group Limited
     Incorporated in the Republic of South Africa        (Incorporated in the Republic of South Africa)
       (Registration number: 1986/004649/06)                (Registration number: 2006/023666/06)
      Share code: BAU ISIN: ZAE000145686                    Share code: RBX ISIN: ZAE000093183
                       ("Bauba")                                           ("RBX")



JOINT ANNOUNCEMENT OF THE RESULTS OF THE OFFER AND SECTION 122
NOTIFICATION

Unless expressly defined in this announcement, or the context indicates otherwise, capitalised terms
herein have the meanings given to them in the combined offer and delisting circular distributed to
Shareholders on Wednesday, 6 July 2022 ("Circular").

1.       Introduction

         Shareholders are referred to the:

         i.    joint Firm Intention Announcement released on SENS on Tuesday, 21 June 2022 wherein
               they were advised of RBX's firm intention (through its subsidiary, Raubex Proprietary
               Limited ("Raubex")) to make a general offer to acquire all the remaining Shares it does not
               already own, for a cash consideration of R0.42 per Share; and the Delisting of the Shares
               from the JSE if the Delisting Resolution is approved by Eligible Shareholders, or, if the
               Delisting Resolution is not approved, in terms of paragraph 1.17(a) of the Listings
               Requirements should Raubex be able to invoke the provisions of section 124 of the
               Companies Act;

         ii.   joint announcement regarding the posting of the Circular and Notice of General Meeting
               released on SENS on Wednesday, 6 July 2022;

        iii.   joint results of General Meeting            announcement      released    on   SENS        on
               Thursday, 4 August 2022; and

        iv.    joint finalisation announcement released on SENS on Friday, 5 August 2022.

2.       Results of the Offer

         Shareholders are hereby advised that the Offer, which closed at 12:00 on Friday, 19 August 2022,
         was accepted in respect of 99,637,746 Shares (in aggregate), constituting 13.29% of the total
         Issued Share Capital.

3.       Implementation of the Delisting

         Shareholders are reminded that the listing of the Shares on the JSE will terminate with effect from
         the commencement of trade tomorrow, Tuesday, 23 August 2022.

4.       Section 122 Notification

         In compliance with section 122(3)(b) of the Companies Act and section 3.83(b) of the Listings
         Requirements, Shareholders are advised that Bauba has received notification in terms of
         section 122(1) of the Companies Act, that Raubex has acquired a beneficial interest in the
        securities of Bauba pursuant to the closure of the Offer, such that their total beneficial interest now
        amounts to 74.97% of the total Issued Share Capital.

        As required in terms of section 122(3)(a) of the Companies Act, Bauba will file the required notices
        with the TRP.

5.      Raubex Responsibility Statement

        The Raubex Board accepts responsibility for the information contained in this announcement
        insofar as it relates to Raubex. To the best of its knowledge and belief, such information contained
        herein is true and nothing has been omitted which is likely to affect the importance of such
        information.

6.      Board and Independent Board Responsibility Statement

        The Board and the Independent Board accepts responsibility for the information contained in this
        announcement insofar as it relates to Bauba. To the best of its knowledge and belief, such
        information contained herein is true and nothing has been omitted which is likely to affect the
        importance of such information.

Johannesburg
22 August 2022

Sponsor to Bauba                                      Legal advisor to Bauba




Financial advisor and sponsor to Raubex               Legal advisor to Raubex