Dealing in Securities by a Director of the Company

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")


DEALING IN SECURITIES BY A DIRECTOR OF THE COMPANY

In compliance with paragraphs 3.63 – 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 an
Executive Director of ARM:

Name of Director                              Hamilton Luthando Mkatshana ("Mr H L Mkatshana")
Name of Associate                             ESP Trust – Hamilton Luthando Mkatshana ("ESP Trust")
Director's relationship with Associate        Mr H L Mkatshana is the beneficiary of the ESP Trust
Category of Director                          Executive Director
Date of Transaction                           12 October 2023
Company                                       African Rainbow Minerals Limited
On/Off market                                 Off market
Class of Securities                           Ordinary shares in African Rainbow Minerals Limited
Nature of Transaction                         Off-market cash-settled exercise of American put option over
                                              80,000 ordinary shares in ARM as released on SENS on
                                              9 November 2022, in terms of which:
                                                  - registered title in the ordinary shares of the Company
                                                    has transferred to Mr H L Mkatshana;
                                                  - a cash premium has been paid to Mr H L Mkatshana;
                                                    and
                                                  - all trust, loan and security arrangements relating to the
                                                    American put option have terminated.
Initial Price per Share                       R160.93 per share
Number of Shares                              80 000 shares
Notional Value/Transaction Value              R12 874 400.00
Nature of Interest                            Direct, Beneficial


The requisite clearance and approvals for this transaction were obtained in compliance with the securities dealing
policies and procedures of ARM and paragraph 3.66 of the Listings Requirements.



Sandton
Date: 16 October 2023

Sponsor to ARM:
Investec Bank Limited

Date: 16-10-2023 03:56:00
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