Acceptance of share options, bonus shares and performance shares 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”) Acceptance of share options, bonus shares and performance shares In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE Limited (“the Listings Requirements”), we provide the following information regarding the acceptance of share options, conditional bonus shares and conditional performance shares by the undermentioned executive directors and company secretary of the Company: 1. Share options Date of acceptance 5 November 2012 Nature of transaction Grants and acceptances of share options in terms of The African Rainbow Minerals Share Incentive Scheme in off market transactions Strike price R168,37 per option Vesting date for exercising of All options vest on 16 October 2016 for options directors and 16 October 2015 for the company secretary Any options not exercised by 15 October 2020 will lapse Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number Strike value of Share of Share options* options R PT Motsepe Executive chairman 22 964 3 866 448.68 MP Schmidt Chief executive officer 18 127 3 052 042.99 M Arnold Financial director 12 769 2 149 916.53 WM Gule Executive director 7 484 1 260 081.08 AJ Wilkens Executive director 17 463 2 940 245.31 AN D’Oyley Company secretary 3 055 514 370.35 * The vesting of Share options is conditional on continued employment by ARM and the reasons for the cessation of such employment. 2. Bonus shares Acceptance date 5 November 2012 Nature of transaction Grants and acceptances of conditional bonus shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in off market transactions Vesting date for 16 October 2016 (executive directors) settlement 16 October 2015 (company secretary) Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Value of Bonus grant Shares * R PT Motsepe Executive chairman 23 319 3 902 901.03 MP Schmidt Chief executive officer 14 475 2 422 680.75 M Arnold Financial director 7 656 1 281 384.72 WM Gule Executive director 3 868 647 387.16 AJ Wilkens Executive director 13 628 2 280 918.36 AN D’Oyley Company secretary 707 118 330.59 * The vesting of Bonus shares is conditional on continued employment by ARM and the reasons for the cessation of such employment. The calculation of these grants is based upon the volume weighted average of the ARM shares for the 20 trading days ended 12 October 2012, which was R167.37. 3. Performance shares Acceptance date 5 November 2012 Nature of transaction Awards and acceptances of conditional performance shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in off market transactions Vesting date for settlement 16 October 2016 (executive directors) 16 October 2015 (company secretary) Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Value of Performance award Shares * R PT Motsepe Executive chairman 28 106 4 704 101.22 MP Schmidt Chief executive officer 23 706 3 967 673.22 M Arnold Financial director 12 846 2 150 035.02 WM Gule Executive director 6 587 1 102 466.19 AJ Wilkens Executive director 17 567 2 940 188.79 AN D’Oyley Company secretary 1 118 187 119.66 * The vesting of the Performance shares is conditional on performance criteria and continued employment by ARM and the reasons for the cessation of such employment. The calculation of these awards is based upon the volume weighted average of the ARM shares for the 20 trading days ended 12 October 2012, which was R167.37. The remuneration committee and the directors of ARM approved the grant of the share options and the bonus shares and the award of the performance shares as set out above in terms of paragraph 3.66 of the Listings Requirements. Sandton 7 November 2012 Sponsor to ARM: Deutsche Securities (SA) (Proprietary) Limited Date: 07/11/2012 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.