Investor Presentaiton

KEY FEATURES - FINANCIAL HISTORIC DIVIDEND YIELD - DIVIDENDS REINSTATED 7% 6% 5% 4% 3% 2% 1% 0% June 14 PAR dividend yield 5,60% June 15 6,30% June 16 5,10% June 17 5,00% June 18* 0,00% June 19 1,00% PAN AFRICAN RESOURCES Dividend suspended due to cessation of large-scale deep level underground mining at Evander 8 Shaft and construction of the Elikhulu Tailings Retreatment Plant 20

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