Secondary listing on A2X Markets (“A2X”) Pan African Resources PLC ("Pan African" or “the Company" or “the Group”) (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on AIM: PAF Share code on JSE: PAN ADR ticker code: PAFRY ISIN: GB0004300496 SECONDARY LISTING ON A2X MARKETS (“A2X”) Pan African is pleased to advise shareholders that its ordinary shares will be traded on the A2X exchange with effect from Monday, 13 December 2021 (the “A2X Listing Date”). Pan African will retain its primary listings on the Alternative Investment Market (“AIM”) of the London Stock Exchange and the Johannesburg Stock Exchange (“JSE”) and its level-1 ADR programme in the United States of America (ADR). Its issued share capital will be unaffected by the secondary listing on A2X and its ordinary shares will be available to be traded on the AIM, JSE, ADR and A2X from the A2X Listing Date. A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the Financial Sector Conduct Authority and the South African Reserve Bank’s Prudential Authority, in terms of the Financial Markets Act 19 of 2012. Pan African’s Chief Executive Officer, Cobus Loots, commented: “The A2X listing affords the Company’s shareholders another platform on which to trade and it should contribute to lower transaction costs and improved liquidity in our stock.” Rosebank 6 December 2021 For further information on Pan African, please visit the Company's website at www.panafricanresources.com Contact 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 Cobus Loots Deon Louw Pan African Resources PLC Pan African Resources PLC Chief executive officer Financial director Office: + 27 (0) 11 243 2900 Office: + 27 (0) 11 243 2900 Phil Dexter/Jane Kirton Ross Allister/David McKeown St James's Corporate Services Limited Peel Hunt LLP Company secretary Nominated Adviser and Joint Broker Office: + 44 (0) 20 7796 8644 Office: +44 (0) 20 7418 8900 Ciska Kloppers Thomas Rider/Nick Macann Questco Corporate Advisory Proprietary Limited BMO Capital Markets Limited JSE Sponsor Joint Broker Office: + 27 (0) 11 011 9200 Office: +44 (0) 20 7236 1010 Hethen Hira Website: www.panafricanresources.com Pan African Resources PLC Head: Investor relations Tel: + 27 (0)11 243 2900 E-mail: hhira@paf.co.za Date: 06-12-2021 11:00:00 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.