Equity settlement of 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”) Equity settlement of bonus shares and performance shares A. 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 equity settlement of bonus shares and performance shares by ARM to the undermentioned director of ARM. The calculation for the equity settlement of these shares is based upon ARM’s closing share price of R194.79 on Wednesday, 25 September 2013. Name of director Wilson Mangisi Gule Category of director Non-Executive 1. Bonus shares Date of transaction 26 September 2013 Nature of transaction Equity settlement of bonus shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in an off-market transaction Dates of grants 15 October 2010, 29 September 2011, 9 November 2011 and 15 October 2012 Vesting date 30 June 2013 Class of securities Ordinary shares Number of bonus shares settled 16 733 Total value of transaction R3 259 421.07 Nature of interest Direct, beneficial 2. Performance shares Date of transaction 26 September 2013 Nature of transaction Equity settlement of performance shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in an off-market transaction Dates of awards 15 October 2010, 29 September 2011, 9 November 2011 and 15 October 2012 Vesting date 30 June 2013 Class of securities Ordinary shares Number of performance shares settled 8 778 Total value of transaction R1 709 866.62 Nature of interest Direct, beneficial The remuneration committee granted the necessary authority to settle these bonus shares and performance shares in terms of paragraph 3.66 of the Listings Requirements. Dealings in ARM securities by a director B. In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the following information is provided regarding the election by the undermentioned director to sell shares to settle the tax payable on the settlement of bonus shares and performance shares as described in “A” above. Name of director Wilson Mangisi Gule Category of director Non-executive Date of transaction 26 September 2013 Nature of transaction On-market sale of shares Class of securities Ordinary shares Number of securities sold 10 408 Selling price of securities Average price of R191.8871 per share (with a low of R191.20 and a high of R193.00) Total value of transaction R1 997 160.94 Nature of interest Direct, beneficial Clearance to deal Yes Sandton 27 September 2013 Sponsor to ARM: Deutsche Securities (SA) Proprietary Limited Date: 27/09/2013 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.