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 9 May 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 9 May 2022 Aggregate number of Ordinary Shares purchased 345,474 London Stock Exchange (“LSE”) purchases Number of Ordinary Shares purchased on LSE - Lowest price paid per share (pence per share): - Highest price paid per share (pence per share): - Volume weighted average price paid per share (pence per share): - Johannesburg Stock Exchange (“JSE”) purchases Number of Ordinary Shares purchased on JSE 345,474 Lowest price paid per share (ZAr per share): 415.00 Highest price paid per share (ZAr per share): 433.00 Volume weighted average price paid per share (ZAr per share): 420.47 Following the purchase, the Company will have 2,222,862,046 Ordinary Shares of £0.01 each in issue, of which 306,358,058 Ordinary Shares are held in treasury. The above figure of 2,222,862,046 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) - - - - Individual transactions on JSE: Number of shares Transaction price (ZAr Time of transaction Execution venue purchased per share) 4,002 433.00 09:00:46 JSE 3,743 430.00 09:07:39 JSE 922 429.00 09:07:40 JSE 2,553 429.00 09:07:40 JSE 804 429.00 09:07:41 JSE 3,789 428.00 09:23:52 JSE 3,891 430.00 09:28:32 JSE 785 430.00 09:33:29 JSE 3,479 430.00 09:33:29 JSE 8,118 427.00 09:37:49 JSE 3,290 429.00 09:49:03 JSE 853 429.00 09:49:03 JSE 3,760 429.00 09:54:18 JSE 3,830 429.00 09:58:48 JSE 3,695 429.00 10:03:47 JSE 4,152 429.00 10:08:30 JSE 4,028 428.00 10:13:42 JSE 3,085 426.00 10:13:45 JSE 4,082 426.00 10:13:45 JSE 2,439 424.00 10:16:06 JSE 1,187 424.00 10:16:06 JSE 144 424.00 10:16:06 JSE 17 424.00 10:32:24 JSE 4,625 422.00 10:32:24 JSE 4,206 424.00 10:32:24 JSE 4,183 421.00 10:35:36 JSE 4,173 421.00 10:35:36 JSE 4,133 423.00 10:54:00 JSE 3,853 420.00 10:55:24 JSE 4,029 420.00 10:55:24 JSE 3,972 420.00 11:09:05 JSE 12,434 419.00 11:11:31 JSE 3,734 419.00 11:33:24 JSE 3,758 419.00 11:35:19 JSE 7,347 419.00 11:35:55 JSE 4,286 420.00 11:48:22 JSE 1,313 420.00 11:53:48 JSE 3,181 420.00 11:53:48 JSE 4,333 420.00 11:59:34 JSE 143 420.00 12:04:48 JSE 4,204 420.00 12:04:48 JSE 813 420.00 12:11:23 JSE 3,064 420.00 12:11:23 JSE 3,777 420.00 12:15:11 JSE 3,694 417.00 12:15:12 JSE 7,403 418.00 12:15:12 JSE 4,435 415.00 12:33:50 JSE 4,179 415.00 12:39:21 JSE 3,756 415.00 12:48:45 JSE 6,108 417.00 13:01:51 JSE 6,366 417.00 13:01:51 JSE 4,173 417.00 13:05:10 JSE 4,236 417.00 13:10:23 JSE 4,436 417.00 13:15:42 JSE 3,942 418.00 13:21:18 JSE 3,839 417.00 13:26:09 JSE 101 417.00 13:30:59 JSE 4,061 418.00 13:35:14 JSE 4,474 418.00 13:36:13 JSE 1,521 417.00 13:37:24 JSE 2,348 417.00 13:37:24 JSE 4,048 417.00 13:37:25 JSE 3,942 417.00 13:37:25 JSE 4,334 418.00 13:56:43 JSE 3,716 419.00 14:02:26 JSE 3,947 416.00 14:04:12 JSE 4,393 419.00 14:17:17 JSE 3,868 419.00 14:17:35 JSE 332 416.00 14:20:17 JSE 1,210 419.00 14:27:35 JSE 1,254 419.00 14:27:35 JSE 5,000 419.00 14:27:35 JSE 1,790 419.00 14:32:00 JSE 2,550 419.00 14:32:00 JSE 4,030 419.00 15:00:08 JSE 3,729 419.00 15:06:20 JSE 4,386 419.00 15:09:45 JSE 2,203 420.00 15:13:37 JSE 115 420.00 15:13:55 JSE 1,275 420.00 15:14:50 JSE 99 420.00 15:15:05 JSE 219 420.00 15:16:46 JSE 1,787 420.00 15:17:03 JSE 171 420.00 15:17:22 JSE 891 420.00 15:18:28 JSE 167 420.00 15:18:29 JSE 375 420.00 15:19:12 JSE 415 420.00 15:19:48 JSE 2,709 420.00 15:19:51 JSE 4,082 420.00 15:19:51 JSE 8,181 420.00 15:19:51 JSE 4,746 418.00 15:20:49 JSE 3,812 417.00 15:22:32 JSE 4,163 417.00 15:22:32 JSE 3,767 418.00 15:31:16 JSE 4,071 417.00 15:31:16 JSE 4,506 420.00 15:45:06 JSE 3,745 420.00 15:50:01 JSE 3,810 417.00 15:54:23 JSE 3,797 417.00 15:56:11 JSE 3,881 416.00 15:56:24 JSE 2,289 416.00 15:56:24 JSE 1,651 416.00 15:56:24 JSE 4,548 417.00 15:59:21 JSE 189 417.00 16:01:07 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 10 May 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 Date: 10-05-2022 08:02:00 Produced by the JSE SENS Department. 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