Investor Presentaiton

COMPANY INFORMATION SHARE PRICE AND MARKET CAPITALISATION AS AT 7 AUGUST 2020 • • • • . . JSE (PAN) AIM (PAF) 12 month change ADR (PAFRY) 20:1 Market Capitalisation Shares Outstanding Treasury Shares 200 ZAR 605cps GBP 27,3p +290% USD 7,11 USD 768 m 2,235 m 306 m 1,929 m Price performance (rebased to 100) 175 150 125 100 75 75 • Shares in market • Cash • Net Debt USD 33,5 m USD 62,5 m MAJOR SHAREHOLDERS • Allan Gray IM (SA) 28% . PAR Gold (SA) 14% • Ninety One (Investec) (SA) 6% • Ruffer (UK) 5% • 7 PIC (SA) 5% PAN AFRICAN Share price performance vs relevant indices Last 12 months RESOURCES 50 08/19 09/19 10/19 11/19 12/19 01/20 02/20 03/20 04/20 05/20 06/20 07/20 Pan African Resources S&P 500 Metals & Mining. AIM All Share Philadelphia Index AIM Basic Resources NYSE Gold Bugs Source: Peel Hunt

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