AFRICAN RAINBOW MINERALS LIMITED - African Rainbow Minerals Limited - Changes to the ARM Board of Directors

African Rainbow Minerals Limited - Changes to the ARM Board of Directors

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”)

AFRICAN RAINBOW MINERALS LIMITED - CHANGES TO THE ARM BOARD OF
DIRECTORS

In terms of paragraph 3.59 of the Listings Requirements of the
JSE Limited, notice is hereby given of the following changes to
the ARM Board of Directors (“Board”):

1. Mr Mike Schmidt Steps Down as CEO and Remains Employed as
   Executive of Growth and Strategic Development at ARM

After 11 years of being Chief Executive Officer (“CEO”) of ARM,
Mr Michael Peter Schmidt (“Mr Mike Schmidt”) is stepping down as
CEO and as an Executive Director of the Company with effect from
1 May 2023. Mr Mike Schmidt will remain employed by ARM as
Executive of Growth and Strategic Development in the Executive
Chairman’s Office.

2. Appointment of Mr Velile Phillip Tobias (“Mr Phillip Tobias”)
   as an Executive Director and as CEO of ARM

After a comprehensive process to identify a successor to Mr Mike
Schmidt, which included interviewing internal and external
candidates; the Board is pleased to announce the appointment of
Mr Phillip Tobias, the current Chief Operating Officer (“COO”)
of the Company, as an Executive Director and as CEO of ARM with
effect from 1 May 2023 until his appointment is approved by the
shareholders at the next annual general meeting of the Company.

Mr Phillip Tobias is a mining engineer with more than 28 years’
experience in the mining industry. He has been the COO of ARM
since November 2021 where he worked closely with Mr Mike Schmidt
and the executive management team. Prior to this role, he was
the COO: Business Development, Corporate Strategy and Capital
Projects of Harmony Gold Mining Company Limited and held various
executive positions at Anglo American Platinum Limited and Gold
Fields Limited.

The Executive Chairman of ARM, Dr Patrice Motsepe, said: “Mike
Schmidt provided outstanding leadership as the CEO of ARM and we
are grateful for his many years of dedicated service. The Board
is pleased that he has agreed to continue being employed at ARM
as Executive of Growth and Strategic Development. We are also
pleased to welcome Phillip Tobias as the new CEO of ARM and we
are confident that he will contribute to the success and global
competitiveness of ARM.”


For more information, please contact:

Jongisa Magagula
Executive Director: Investor Relations and New Business
Development
Tel:    +27 11 779 1507
Mobile: +27 82 562 5288
E-mail: jongisa.magagula@arm.co.za

Johannesburg
28 April 2023

Sponsor: Investec Bank Limited

Date: 28-04-2023 03:50:00
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