Dealings in securities by directors and the company secretary 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”) Dealings in securities by directors and the company secretary Grant and acceptance of 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 grant and acceptance of conditional bonus shares and conditional performance shares by the undermentioned executive directors and company secretary of the Company: 1. Bonus shares Acceptance date 25 November 2014 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 settlement 18 November 2017 Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Value of Bonus grant Shares * R PT Motsepe Executive chairman 27 141 3 758 485.68 MP Schmidt Chief executive officer 18 461 2 556 479.28 M Arnold Financial director 9 003 1 246 735.44 DV Simelane Executive director 3 141 434 965.68 AJ Wilkens Executive director 12 312 1 704 965.76 AN D’Oyley Company secretary 1 257 174 069.36 * The vesting of bonus shares is conditional on continued employment by ARM and where applicable, the reasons for the cessation of such employment. The calculation of the value of these grants is based upon the volume weighted average ARM share price for the 20 trading days ended 14 November 2014, which was R138.48. 2. Performance shares Acceptance date 25 November 2014 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 18 November 2017 Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Value of Performance award Shares * R PT Motsepe Executive chairman 58 600 8 114 928.00 MP Schmidt Chief executive officer 48 776 6 754 500.48 M Arnold Financial director 23 709 3 283 222.32 DV Simelane Executive director 16 526 2 288 520.48 AJ Wilkens Executive director 30 850 4 272 108.00 AN D’Oyley Company secretary 2 946 407 962.08 * The vesting of performance shares is conditional on performance criteria and continued employment by ARM and where applicable, the reasons for the cessation of such employment. The calculation of the value of these awards is based upon the volume weighted average ARM share price for the 20 trading days ended 14 November 2014, which was R138.48. The Board of Directors of ARM, on the recommendation of the Remuneration Committee, approved the grant of 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 27 November 2014 Sponsor to ARM: Deutsche Securities (SA) Proprietary Limited Date: 27/11/2014 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.