Bauba Resources Limited (JSE:BAU) News - Joint Announcement – Extension of Circular Distribution Date

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")                                              ("Raubex")


JOINT ANNOUNCEMENT – EXTENSION OF CIRCULAR DISTRIBUTION DATE


Shareholders are referred to the joint firm intention announcement released on the Stock Exchange
News Service on Thursday, 3 February 2022 ("FIA") wherein they were advised of Raubex's firm
intention (through its subsidiary, Raubex Proprietary Limited) to make a mandatory offer to Bauba
Shareholders. Unless expressly defined in this announcement, capitalised terms herein have the
meanings given to them in the FIA.

EXTENSION OF CIRCULAR DISTRIBUTION DATE

In terms of the FIA, the Circular was expected to be distributed to Bauba Shareholders on
Tuesday, 1 March 2022. However, due to a delay in the preparation of the Circular (including as a result
of the need to procure an independent valuation of Bauba, and a related independent expert's report for
inclusion in the Circular), Bauba and Raubex have applied to the TRP in terms of regulation 102(2)(b) of
the Takeover Regulations for an extension to the distribution date of the Circular.

The request has been granted by the TRP and it is currently envisaged that the Circular will be distributed
to Bauba Shareholders on or before Friday, 1 April 2022.

A further announcement confirming the issue and posting of the Circular and setting out details of the
important dates and times of the Offer, will be published in due course.

RAUBEX RESPONSIBILITY STATEMENT

The Raubex board of directors 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.

INDEPENDENT BOARD RESPONSIBILITY STATEMENT

The Independent Board of Bauba accepts responsibility for the information contained in this
announcement. 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
3 March 2022

Sponsor to Bauba                                     Legal adviser to Bauba
Merchantec Capital                                   Webber Wentzel


Financial advisor and sponsor to Raubex              Legal adviser to Raubex
Investec Bank Limited                                DLA Piper Advisory Services Proprietary
                                                     Limited

Date: 03-03-2022 10:06:00
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