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 AIM: PAF Share code on JSE: PAN ISIN: GB0004300496 ADR ticker code: PAFRY (“Pan African” or the “Company” or the “Group”) TR-1: Standard form for notification of major holdings 1. Issuer Details ISIN GB0004300496 Issuer Name PAN AFRICAN RESOURCES PLC UK or Non-UK Issuer UK Issuer 2. Reason for Notification An acquisition or disposal of voting rights 3. Details of person subject to the notification obligation Name M&G Plc City of registered office (if applicable) London Country of registered office (if applicable) United Kingdom 4. Details of the shareholder Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above City of registered office (if applicable) Country of registered office (if applicable) 5. Date on which the threshold was crossed or reached 10-Oct-2022 6. Date on which Issuer notified 11-Oct-2022 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights Total number of through financial Total of both in . attached to shares instruments (total of % (8.A + 8.B) voting rights held in (total of 8.A) issuer 8.B 1 + 8.B 2) Resulting situation on the date on which threshold 5.060943 0.000000 5.060943 112497773 was crossed or reached Position of previous Below 5% Below 5% Below 5% notification (if applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached 8A. Voting rights attached to shares Number of direct Class/Type of shares Number of indirect voting % of direct voting % of indirect voting voting rights ISIN code(if possible) rights (DTR5.2.1) rights (DTR5.1) rights (DTR5.2.1) (DTR5.1) 0 112497773 0.000000 5.060943 GB0004300496 Sub Total 8.A 112497773 5.060943% 8B1. Financial Instruments according to (DTR5.3.1R.(1) (a)) Number of voting rights that may be % of Type of financial Expiration Exercise/conversion acquired if the instrument is voting instrument date period exercised/converted rights Sub Total 8.B1 8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b)) Type of Expiration Exercise/conversion Physical or cash Number of voting % of voting financial date period settlement rights rights instrument Sub Total 8.B2 9. Information in relation to the person subject to the notification obligation 2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary) % of voting rights % of voting rights through financial Total of both if it if it equals or is instruments if it Ultimate controlling Name of controlled equals or is higher higher than the equals or is person undertaking than the notifiable notifiable higher than the threshold threshold notifiable threshold M&G Plc (Parent M&G Plc 5.060943 5.060943% Company) M&G Group Regulated Entity Holding Company M&G Plc 5.060943 5.060943% Limited (wholly owned subsidiary of M&G Plc) M&G Group Limited (wholly owned subsidiary M&G Plc of M&G Group 5.060943 5.060943% Regulated Entity Holding Company Limited) M&G FA Limited (wholly owned M&G Plc 5.060943 5.060943% subsidiary of M&G Group Limited) MandG Investments Southern Africa M&G Plc (Pty) Ltd (majority 5.060943 5.060943% owned subsidiary of M&G FA Limited) MandG Investment Managers (Pty) Ltd (wholly owned subsidiary of M&G Plc 5.060943 5.060943% MandG Investments Southern Africa (Pty) Ltd) 10. In case of proxy voting Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 11. Additional Information 12. Date of Completion 11-Oct-2022 13. Place Of Completion London, United Kingdom Rosebank 12 October 2022 For further information on Pan African, please visit the Company's website at www.panafricanresources.com Corporate information Corporate office Registered Office The Firs Office Building Suite 31 2nd Floor, Office 204 Second Floor Corner Cradock and Biermann Avenues 107 Cheapside Rosebank, Johannesburg London South Africa EC2V 6DN Office: + 27 (0) 11 243 2900 United Kingdom info@paf.co.za Office: + 44 (0) 20 7796 8644 Chief executive officer Financial director Cobus Loots Deon Louw Office: + 27 (0) 11 243 2900 Office: + 27 (0) 11 243 2900 Head: Investor relations Website: www.panafricanresources.com Hethen Hira Tel: + 27 (0)11 243 2900 E-mail: hhira@paf.co.za Company secretary Nominated Adviser and Joint Broker Phil Dexter/Jane Kirton Ross Allister/Alexander Allen St James's Corporate Services Limited Peel Hunt LLP Office: + 44 (0) 20 7796 8644 Office: +44 (0) 20 7418 8900 JSE Sponsor Joint Broker Ciska Kloppers Thomas Rider/Nick Macann Questco Corporate Advisory Proprietary BMO Capital Markets Limited Limited Office: +44 (0) 20 7236 1010 Office: + 27 (0) 11 011 9200 Joint Broker Matthew Armitt / Jennifer Lee Joh. Berenberg, Gossler & Co KG (Berenberg) Office: +44 (0) 20 3207 7800