AFRICAN RAINBOW MINERALS LIMITED - Cautionary Announcement

Cautionary Announcement

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”)


CAUTIONARY ANNOUNCEMENT

Shareholders are advised that ARM is currently in discussions regarding
the potential acquisition of Bokoni Platinum Mine (“the Transaction”),
which if successfully concluded, may have a material effect on the price
of ARM’s securities. Bokoni Platinum Mine is a Platinum Group Metals
(“PGM”) mine located in the Eastern Limb of the Bushveld Complex and is
jointly owned ultimately by Anglo American Platinum Limited and Atlatsa
Resources Corporation. There is no certainty that the Transaction will
be concluded.

Accordingly, shareholders are advised to exercise caution when dealing
in ARM’s securities until a further announcement is made.

ENDS

For all queries, please contact:
Jongisa Magagula
Executive director: Investor relations and new business development.
Office: +27 11 779 1507 | Mobile: +27 (0) 82 562 5288 | Email:
jongisa.magagula@arm.co.za

Sandton
28 October 2021

Sponsor: Investec Bank Limited

Date: 28-10-2021 09:36:00
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