Company Announcements

Pan African Resources Plc - Holding(s) in Company

TR-1: S tandard 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)

1a. Identity of the issuer or the                PAN AFRICAN RESOURCES
underlying issuer of existing shares to
which voting rights are attached ii:

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 obligation iv

Name                                    PUBLIC INVESTMENT CORPORATION SOC
                                        LIMITED

City and country of registered office   PRETORIA, SOUTH AFRICA
(if applicable)

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      22/07/2022
crossed or reached vi:

6. Date on which issuer notified        25/07/2022
(DD/MM/YYYY):

7. Total positions of person(s) subject to the notification obligation

                    % of voting rights % of voting rights Total of both in % Tot
                    attached to shares through financial     (8.A + 8.B)     al
                     (total of 8. A)      instruments                        num
                                       (total of 8.B 1 +                     ber
                                             8.B 2)                          of
                                                                             vot
                                                                             ing
                                                                             rig
                                                                             hts
                                                                             hel
                                                                             d
                                                                             in
                                                                             iss
                                                                             uer
                                                                             (8.
                                                                             A
                                                                             +
                                                                             8.B
                                                                             )
                                                                             vii

Resulting situation       9.269%                                9.269%       206
on the date on                                                               042
which threshold was                                                          173
crossed or reached

Position of               8.362%                                8.362%
previous
notification (if
applicable)



   


8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached viii

A: Voting rights attached to shares

Class/type  Number of voting rights % of voting rights
of          ix
shares
ISIN code     Direct     Indirect               Direct               Indirect
(if          (DTR5.1)   (DTR5.2.1)             (DTR5.1)             (DTR5.2.1)
possible)

            206 042 173             9.269%

SUBTOTAL 8. 206 042 173             9.269%
A

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of     Expiration Exercise/   Number of voting rights that may % of voting
financial   date x     Conversion  be acquired if the instrument is rights
instrument             Period xi
                                   exercised/converted.

                       SUBTOTAL 8.               NIL                NIL
                       B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
(1) (b)

Type of    Expiration  Exercise/  Physical or cash Number of voting % of voting
financial  date x      Conversion                  rights           rights
instrument             Period xi  Settlement xii

                                  SUBTOTAL 8.B.2         NIL            NIL



   


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 (please
add additional rows as necessary) xiv

     Name xv      % of voting rights if  % of voting rights  Total of both if it
                  it equals or is higher  through financial  equals or is higher
                   than the notifiable    instruments if it  than the notifiable
                        threshold        equals or is higher      threshold
                                         than the notifiable
                                              threshold

PUBLIC INVESTMENT 9.269%                                     9.269%
CORPORATION SOC
LIMITED

10. In case of proxy voting, please identify:

Name of the proxy holder                 N/A

The number and % of voting rights held   N/A

The date until which the voting rights   N/A
will be held

11. Additional information xvi



   


Place of completion PRETORIA, SOUTH AFRICA

Date of completion  25 July 2022