Dealings in securities by Directors 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 Directors of ARM A. Sale of shares In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE Limited (“the Listings Requirements”), we hereby provide the following information regarding dealings in ARM securities by the Chief Executive Officer of ARM: Name of director Michael Peter Schmidt Category of director Chief Executive Officer Date of transaction 19 October 2020 Nature of transaction On-market sale of shares Class of securities Ordinary shares Number of securities 40 000 Selling price of securities Volume weighted average price of R235.1433 per share (with a low of R235.00 per share and a high of R235.67 per share) Total value of transaction R9 405 732.00 Nature of interest Direct, beneficial B. Exercise of share options In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements, the following information is provided regarding the exercise of share options by an Executive Director of ARM: In terms of the ARM Share Incentive Scheme the share options described below will expire on 29 October 2021, if not exercised by this date. Name of Director Hamilton Luthando Mkatshana Category of director Executive Director Date of transaction 19 October 2020 Nature of transaction Exercise of share options settled by on- market sale of shares Class of securities Ordinary shares Offer price 7 846 options at R200.75 per share option; granted on 29 October 2013 and vested on 30 October 2017 Number of securities 7 846 Market price of securities R234.0300 per ARM share Total market value of R1 836 199.38 securities Nature of interest Direct, beneficial Clearance to deal Yes The requisite clearances and approvals for these transactions were obtained in compliance with the securities dealing policies and procedures of ARM and paragraph 3.66 of the Listings Requirements. Sandton 21 October 2020 Sponsor to ARM: Investec Bank Limited Date: 21-10-2020 03:43:00 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.