TR-1: Standard form for notification of major holdings Pan African Resources PLC Pan African Resources Funding (Incorporated and registered in England and Company Limited Wales under the Companies Act 1985 with Incorporated in the Republic of South registered number 3937466 on 25 February Africa with limited liability 2000) Registration number: 2012/021237/06 Share code on AIM: PAF Alpha code: PARI 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 2. Reason for Notification An acquisition or disposal of voting rights 3. Details of person subject to the notification obligation Name Allan Gray Proprietary Limited City of registered office (if applicable) Cape Town Country of registered office (if applicable) South Africa 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 08-Jul-2024 6. Date on which Issuer notified 11-Jul-2024 7. Total positions of person(s) subject to the notification obligation % of voting % of voting rights through Total number of rights attached financial Total of both in voting rights to shares (total instruments % (8.A + 8.B) held in issuer of 8.A) (total of 8.B 1 + 8.B 2) Resulting situation on the date on which 17.939200 0.000000 17.939200 343806393 threshold was crossed or reached Position of previous 18.991100 0.000000 18.991100 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 Class/Type of Number of direct Number of % of direct voting % of indirect shares ISIN voting rights indirect voting rights (DTR5.1) rights code(if possible) (DTR5.1) voting rights (DTR5.2.1) (DTR5.2.1) GB0004300496 343806393 17.939200 Sub Total 8.A 343806393 17.939200% 8B1. Financial Instruments according to (DTR5.3.1R.(1) (a)) Number of voting rights that % of Type of financial Expiration Exercise/conversion may be acquired if the voting instrument date period instrument is rights exercised/converted 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 % of financial date period settlement voting rights voting instrument rights Sub Total 8.B2 9. Information in relation to the person subject to the notification obligation 1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer. % of voting % of voting rights Total of both if it Ultimate Name of rights if it equals through financial equals or is controlling person controlled or is higher than instruments if it equals higher than the undertaking the notifiable or is higher than the notifiable threshold notifiable threshold threshold 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-Jul-2024 13. Place Of Completion Cape Town Rosebank 12 July 2024 For further information on Pan African, please visit the Company's website at www.panafricanresources.com Corporate information Corporate office Registered office The Firs Building 2nd Floor 2nd Floor, Office 204 107 Cheapside Cnr. Cradock and Biermann Avenues London Rosebank, Johannesburg EC2V 6DN South Africa United Kingdom Office: + 27 (0)11 243 2900 Office: + 44 (0)20 7796 8644 info@paf.co.za info@paf.co.za Chief executive officer Financial director and debt officer Cobus Loots Deon Louw Office: + 27 (0)11 243 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 Jane Kirton Ross Allister/Georgia Langoulant St James's Corporate Services Limited Peel Hunt LLP Office: + 44 (0)20 7796 8644 Office: +44 (0)20 7418 8900 JSE Sponsor and JSE debt sponsor Joint broker Ciska Kloppers Thomas Rider/Nick Macann Questco Corporate Advisory Proprietary BMO Capital Markets Limited Limited Office: + 27 (0)11 011 9200 Office: +44 (0)20 7236 1010 Joint broker Matthew Armitt/Jennifer Lee Joh. Berenberg, Gossler & Co KG Office: +44 (0)20 3207 7800 Date: 12-07-2024 11:15:00 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.