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TR-1: Standard form for notification of major holdings
Pan African Resources PLC Pan African Resources Funding Company
(Incorporated and registered in England and Wales Limited
under Companies Act 1985 with registered Incorporated in the Republic of South Africa
number 3937466 on 25 February 2000) with limited liability
Share code on AIM: PAF Registration number: 2012/021237/06
Share code on JSE: PAN Alpha code: PARI
ISIN: GB0004300496
ADR code: PAFRY
('Pan African' or 'the Company' or 'the Group')
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible)i
Pan African Resources PLC
(Incorporated and registered in England and Wales
under the Companies Act 1985 with registration
1a. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are at- number 3937466 on 25 February 2000)
tachedii:
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name Peregrine Capital (Pty) Ltd
City and country of registered office (if applicable) Johannesburg , SOUTH AFRICA.
4. Full name of shareholder(s) (if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or
10/09/2025
reachedvi:
6. Date on which issuer notified (DD/MM/YYYY): 15/09/2025
7. Total positions of person(s) subject to the notification obligation
% of voting rights
% of voting rights at- Total number of
through financial instru- Total of both in %
tached to shares (to- voting rights of is-
ments (8.A + 8.B)
tal of 8. A) suervii
(total of 8.B 1 + 8.B 2)
Resulting situation
on the date on which
threshold was
5.65 0 5.65 114,499,838
crossed or reached
Position of previous
notification (if
applicable)
8. Notified details of the resulting situation on the date on which the threshold was crossed or
reachedviii
A: Voting rights attached to shares
Class/type of Number of voting rightsix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive
2004/109/EC) (DTR5.1) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC)
(DTR5.2.1) (DTR5.2.1)
GB0004300496 114,499,838 5.65
SUBTOTAL 8. A 114,499,838 5.65
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Number of voting rights
Type of financial in- Expiration Exercise/ that may be acquired if
% of voting rights
strument datex Conversion Periodxi the instrument is
exercised/converted.
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive
2004/109/EC (DTR5.3.1.1 (b))
Exercise/ Physical or
Type of financial Expiration Number of
Conversion Pe- cash % of voting rights
instrument datex voting rights
riod xi settlementxii
SUBTOTAL
8.B.2
9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii
Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity xiv
(please add additional rows as necessary)
% of voting rights
% of voting rights if it Total of both if it
through financial in-
equals or is higher equals or is higher
Namexv struments if it equals
than the notifiable than the notifiable
or is higher than the
threshold threshold
notifiable threshold
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional informationxvi
Place of completion JOHANNESBURG, SOUTH AFRICA
Date of completion 15/09/2025
Rosebank
15 September 2025
For further information on Pan African Resources, please visit the Company's website at
www.panafricanresources.com
Corporate information
Corporate Office Registered Office
The Firs Building 107 Cheapside, 2nd Floor
2nd Floor, Office 204 London, EC2V 6DN
Corner Cradock and Biermann Avenues United Kingdom
Rosebank, Johannesburg Office: + 44 (0)20 3869 0706
South Africa jane.kirton@corpserv.co.uk
Office: + 27 (0)11 243 2900
info@paf.co.za
Chief Executive Officer Financial Director and debt officer
Cobus Loots Marileen Kok
Office: + 27 (0)11 243 2900 Office: + 27 (0)11 243 2900
Head: Investor Relations Website: www.panafricanresources.com
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za
Company Secretary Nominated Adviser and Joint Broker
Jane Kirton Ross Allister/Georgia Langoulant
St James's Corporate Services Limited Peel Hunt LLP
Office: + 44 (0)20 3869 0706 Office: +44 (0)20 7418 8900
JSE Sponsor & JSE Debt Sponsor Joint Broker
Ciska Kloppers Thomas Rider/Nick Macann
Questco Corporate Advisory Proprietary BMO Capital Markets Limited
Limited Office: +44 (0)20 7236 1010
Office: + 27 (0) 63 482 3802
Joint Broker
Matthew Armitt/Jennifer Lee
Joh. Berenberg, Gossler & Co KG
(Berenberg)
Office: +44 (0)20 3207 7800
Date: 15-09-2025 05:42:00
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