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: firstname.lastname@example.org Sandton 28 October 2021 Sponsor: Investec Bank Limited Date: 28-10-2021 09:36:00 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.