Dealings in securities by a Director of ARM African Rainbow Minerals Limited (Incorporated in the Republic of South Africa) (Registration Number 1933/004580/06) JSE Share code: ARI ISIN: ZAE000054045 (“ARM” or “the Company”) Dealings in securities by a Director of ARM Sale of shares In terms of paragraph 3.63 to 3.66 of the Listings Requirements of the JSE Limited (the Listings Requirements), the following information is provided regarding dealings by a Director in ARM securities: Name of director Hamilton Luthando Mkatshana Category of director Executive Date of transaction 4 April 2019 Nature of transaction On-market sale of shares Class of securities Ordinary shares Number of securities 36 600 Sale price of securities Weighted average price of R174.91 per share (with a low of R174.35 per share and a high of R175.25 per share) Total value of transaction R6 401 922.45 Nature of interest Direct, beneficial Clearance to deal Yes Net settlement of share options In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the following information is provided regarding the exercise of share options by net settlement, by the undermentioned Director of ARM. The calculation for the net settlement mechanism is based upon the closing share price of R176.00 per ARM share on 3 April 2019. In terms of the African Rainbow Minerals Share Incentive Scheme the share options described below expire on 10 December 2019, if not exercised by that date. Name of director Michael Arnold Category of director Non-executive Date of transaction 4 April 2019 Nature of transaction Exercise of share options by net settlement and on-market sale of shares Class of securities Ordinary shares Number of share options granted 12 769 Reduced number of share options exercised 554 Offer price R168.37 per share option; granted on 15 October 2012 and vested on 16 October 2016 Sale price of securities R174.81 Value of share options sold (before tax liability) R96 844.74 Nature of interest Direct, beneficial Clearance to deal Yes Sandton 8 April 2019 Sponsor to ARM: Investec Bank Limited Date: 08/04/2019 05:07:00 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.