Pan African Resources plc (JSE:PAN) News - Pan African Resources PLC Transaction in own shares 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”) PAN AFRICAN RESOURCES PLC TRANSACTION IN OWN SHARES Pan African, the South African gold producer, announces that on 26 April 2022, in accordance with the terms of its share buyback programme announced on 1 April 2022 (the “Programme”) it purchased the following number of ordinary shares of £0.01 each in the Company (“Ordinary Shares”) through Peel Hunt LLP (“Peel Hunt”) and RMB Morgan Stanley (“RMBMS”). The shares purchased will be cancelled. Date of purchases 26 April 2022 Aggregate number of Ordinary Shares purchased 2,314,538 London Stock Exchange (“LSE”) purchases Number of Ordinary Shares purchased on LSE 1,327,529 Lowest price paid per share (pence per share): 20.353 Highest price paid per share (pence per share): 20.74 Volume weighted average price paid per share (pence per share): 20.72 Johannesburg Stock Exchange (“JSE”) purchases Number of Ordinary Shares purchased on JSE 987,009 Lowest price paid per share (ZAr per share): 401.00 Highest price paid per share (ZAr per share): 417.00 Volume weighted average price paid per share (ZAr per share): 412.78 Following the purchase, the Company will have 2,225,894,330 Ordinary Shares of £0.01 each in issue, of which 306,358,058 Ordinary Shares are held in treasury. The above figure of 2,225,894,330 may be used by shareholders as the denominator for calculating whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, the tables below contain detailed information of the individual trades made by Peel Hunt as part of the Programme. The same information is also included for the trades made by RMBMS. Individual transactions on LSE: Number of shares Transaction price Time of transaction Execution venue purchased (pence per share) 65,000 20.353 08:51:03 LSE 1,262,529 20.74 09:04:43 LSE Individual transactions on JSE: Number of shares Transaction price (ZAr Time of transaction Execution venue purchased per share) 11,820 401.00 09:00:41 JSE 10,835 407.00 09:04:39 JSE 11,304 405.00 09:19:34 JSE 11,146 404.00 09:21:06 JSE 10,202 407.00 09:30:35 JSE 19,530 409.00 09:32:37 JSE 10,403 408.00 09:32:37 JSE 5,549 413.00 09:50:16 JSE 10,881 413.00 09:51:43 JSE 12,180 413.00 09:51:43 JSE 12,492 411.00 10:04:03 JSE 8,582 411.00 10:17:57 JSE 2,269 411.00 10:17:57 JSE 38 412.00 10:23:59 JSE 7,570 412.00 10:23:59 JSE 10,836 410.00 10:27:45 JSE 11,703 410.00 10:27:45 JSE 10,364 411.00 10:40:56 JSE 1,597 413.00 10:46:57 JSE 10,265 413.00 10:46:57 JSE 467 417.00 10:57:18 JSE 3,380 417.00 10:57:18 JSE 6,909 417.00 10:57:18 JSE 10,806 415.00 10:59:36 JSE 10,843 415.00 10:59:36 JSE 10,050 414.00 10:59:36 JSE 10,624 414.00 10:59:36 JSE 10,145 414.00 11:24:51 JSE 410 414.00 11:31:04 JSE 2,044 414.00 11:31:15 JSE 6,536 414.00 11:36:57 JSE 3,668 414.00 11:36:57 JSE 10,320 415.00 11:38:30 JSE 12,151 416.00 11:44:43 JSE 10,313 416.00 11:52:09 JSE 2,614 416.00 11:53:24 JSE 61,943 415.00 11:59:11 JSE 16,881 415.00 12:00:12 JSE 8,197 415.00 12:17:26 JSE 2,613 415.00 12:17:26 JSE 3,004 415.00 12:23:35 JSE 8,956 415.00 12:23:35 JSE 987 415.00 12:30:56 JSE 8,581 415.00 12:30:56 JSE 2,624 415.00 12:30:56 JSE 2,501 415.00 12:38:48 JSE 9,669 415.00 12:38:48 JSE 6,363 415.00 12:46:31 JSE 5,172 415.00 12:46:31 JSE 30,812 414.00 12:55:34 JSE 10,050 414.00 12:55:34 JSE 11,595 412.00 13:18:35 JSE 11,354 412.00 13:18:35 JSE 10,059 411.00 13:18:57 JSE 11,128 410.00 13:39:24 JSE 6,553 410.00 13:46:04 JSE 3,893 410.00 13:46:04 JSE 5,687 410.00 13:52:27 JSE 5,985 410.00 13:52:27 JSE 5,238 410.00 13:59:25 JSE 5,353 410.00 13:59:25 JSE 28,871 408.00 14:03:14 JSE 3,020 410.00 14:21:39 JSE 8,893 410.00 14:21:39 JSE 703 410.00 14:28:02 JSE 10,059 410.00 14:28:02 JSE 1,407 409.00 14:28:45 JSE 11,010 410.00 14:34:18 JSE 2,600 409.00 14:37:01 JSE 524 410.00 14:41:59 JSE 10,528 410.00 14:41:59 JSE 1,050 409.00 14:44:06 JSE 1,037 411.00 14:48:40 JSE 11,230 411.00 14:48:40 JSE 31,089 410.00 14:49:58 JSE 3,518 412.00 15:13:28 JSE 6,130 412.00 15:13:28 JSE 14,642 414.00 15:17:57 JSE 8,156 414.00 15:17:57 JSE 5,151 414.00 15:20:57 JSE 4,927 414.00 15:20:57 JSE 3,024 414.00 15:25:05 JSE 3,273 414.00 15:25:05 JSE 127 414.00 15:27:42 JSE 13,494 415.00 15:37:21 JSE 23,190 415.00 15:37:21 JSE 20,673 415.00 15:37:21 JSE 1,267 415.00 15:48:53 JSE 181 414.00 15:59:47 JSE 33,690 414.00 16:00:29 JSE 34,024 414.00 16:00:29 JSE 10,650 413.00 16:12:36 JSE 11,529 414.00 16:19:44 JSE 20,000 414.00 16:21:37 JSE 10,295 415.00 16:39:59 JSE 3,961 417.00 16:47:28 JSE 10,601 417.00 16:47:48 JSE 623 417.00 16:47:48 JSE 1,589 417.00 16:47:48 JSE 49,444 417.00 16:47:48 JSE 1,198 417.00 16:47:48 JSE 13,587 415.00 16:48:46 JSE The information contained in this update is the responsibility of the Pan African board of directors and has not been reviewed or reported on by the Group’s external auditors. Rosebank 26 April 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 Limited BMO Capital Markets Limited Office: + 27 (0) 11 011 9200 Office: +44 (0) 20 7236 1010 5 Date: 26-04-2022 05:48:00 Produced by the JSE SENS Department. 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