Merafe Resources Limited (JSE:MRF) News - Production report for the quarter and year ended 31 December 2021 and contribution of a new PGM production plant MERAFE RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003452/06) Share Code: MRF ISIN: ZAE000060000 (“Merafe” or the “Company”) PRODUCTION REPORT FOR THE QUARTER AND YEAR ENDED 31 DECEMBER 2021 AND CONTRIBUTION OF A NEW PGM PRODUCTION PLANT 1. Production report for the quarter and year ended 31 December 2021 Merafe’s attributable ferrochrome production from the Glencore Merafe Chrome Venture (“JV”) in the fourth quarter and year ended 31 December 2021 increased by approximately 5.1% and 42.7% respectively, compared to the quarter and year ended 31 December 2020. As reported in the announcement published on SENS on 26 July 2021, the increase was mainly due to current production being less affected by the COVID-19 restrictions coupled with improved plant efficiencies achieved at our smelters. Quarter ended Year ended 31 December 31 December 31 December 31 December 2021 2020 2021 2020 Attributable ferrochrome production (kt) 102 97 379 265 2. Contribution of a new PGM production plant Shareholders of the Company are advised that Merafe and Glencore Operations South Africa Proprietary Limited (“Glencore SA”) have reached an agreement to contribute to the JV a new Platinum Group Metal (“PGM”) production plant (“New PGM Plant”) that is currently being constructed at the Kroondal Mine. The New PGM Plant’s main operations will be the treatment of PGM-bearing material (i) derived from the mining operations at the JV’s western chrome mines; (ii) available in applicable tailings facilities and dams; and (iii) from certain mining operations in the vicinity of the Kroondal Mine to which Glencore SA and/or Merafe directly or indirectly have/has rights in relation to PGMs. The operations of the New PGM Plant are governed by the existing unincorporated JV’s notarial pooling and sharing agreement between Merafe and Glencore SA. Sandton 14 January 2022 Sponsor One Capital Date: 14-01-2022 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.