Dealings in securities by a director of ARM 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 a director of ARM Equity settlement of performance shares In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the following information is provided regarding the equity settlement of performance shares by ARM to the undermentioned director of ARM. This award was made in terms of The African Rainbow Minerals Limited 2008 Share Plan and on recommendation of the Remuneration Committee, approved by ARM’s Board of Directors. The calculation for the equity settlement of these shares is based upon the closing ARM share price of R94.25 on Friday, 1 April 2016. Name of director Hamilton Luthando Mkatshana Category of director Executive Date of transaction 18 May 2016 Nature of transaction Equity settlement of performance shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in an off-market transaction Date of award 3 April 2012 Vesting date 4 April 2016 Class of securities Ordinary shares Number of securities 13 489 Total value of transaction R1 271 338.25 Extent of interest Direct, beneficial The Board of Directors of ARM, on the recommendation of the Remuneration Committee, granted the necessary authority to settle these performance shares in terms of paragraph 3.66 of the Listings Requirements. Sandton 18 May 2016 Sponsor to ARM: Deutsche Securities (SA) Proprietary Limited Date: 18/05/2016 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.