PAN AFRICAN RESOURCES PLC - Directors Dealings in Securities

Director’s Dealings in Securities

Pan African Resources PLC                              Pan African Resources Funding Company
(Incorporated and registered in England and Wales      Limited
under the Companies Act 1985 with registered           Incorporated in the Republic of South
number 3937466 on 25 February 2000)                    Africa with limited liability
Share code on LSE: PAF                                 Registration number: 2012/021237/06
Share code on JSE: PAN                                 Alpha code: PARI
ISIN: GB0004300496
ADR ticker code: PAFRY
("Pan African Resources" or the "Company")


DIRECTOR'S DEALINGS IN SECURITIES

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR
CLOSELY ASSOCIATED PERSONS

The Company announces it has received notification that the Executive: Technical Services and
New Business, Hendrik Pretorius, acquired 5,700 ordinary shares of 1p each in Pan African
Resources on 20 March 2026.

Following this transaction, Mr Pretorius has a direct beneficial interest of 5,700 ordinary shares,
representing 0.0002% of the Company's issued share capital.

The below information and notification are made in accordance with the EU Market Abuse
Regulation and the JSE Listings Requirements.



 1.   Details of the person
      discharging managerial
      responsibilities/person closely
      associated

 a)   Name:                                 Hendrik Pretorius

 2.   Reason for the notification

 a)   Position/status:                      Executive: Technical Services and New Business

 b)   Initial notification/Amendment:       Initial notification

 3.   Details of the issuer, emission
      allowance market participant,
      auction platform, auctioneer or
      auction monitor

 a)   Company name:                         Pan African Resources PLC

 b)   LEI:                                  213800EAXURCXMX6RL85

 4.   Details of the transaction(s):
      section to be repeated for (i)
      each type of instrument; (ii)
      each type of transaction; (iii)
      each date; and (iv) each place
      where transactions have been
      conducted

 a)   Description of the financial          Ordinary shares of 1p each
      instrument, type of instrument:

                                            Identification code: GB0004300496

 b)   Nature of the transaction:            Acquisition of shares



 c)   Price(s) and volume(s):               Acquisition of 5,700 shares at GBP1.312 per share.



 d)   Aggregated information:               Acquisition value of GBP7,478.40



 e)   Date of the transaction:              20 March 2026

 f)   Place of the transaction:             London Stock Exchange



Additional information disclosed in accordance with the JSE Listings Requirements:

 a)   Nature of interest of executive:                      Direct beneficial

 b)   On-market or off-market:                              On-market

 c)   Clearance given in terms of paragraph 6.83 of the     Yes
      JSE Listings Requirements:

 d)   Total value of transactions                           GBP7,478.40

 e)   Holding following transactions:                       Direct beneficial 5,700 ordinary
                                                            shares



Johannesburg

23 March 2026

For further information on Pan African, 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                        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: 23-03-2026 11:00:00
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