Director's dealings in securities Pan African Resources PLC (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) AIM Code: PAF JSE Code: PAN ISIN: GB0004300496 ("Pan African" or the “Company”) DIRECTOR’S DEALINGS IN SECURITIES DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS 1. Details of the person discharging managerial responsibilities/person closely associated a) Name: Cobus Loots 2. Reason for the notification a) Position/status: Chief Executive Officer b) Initial notification/Amendment: Initial notification 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Company name: Pan African Resources PLC b) LEI: Not applicable 4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of Ordinary shares of 1p each instrument: Identification code: GB0004300496 b) Nature of the transaction: Acquisition of ordinary shares c) Price(s) and volume(s): 29 September 2016 Price(s) Volume(s) ZAR3.59 491 30 September 2016 Price(s) Volume(s) ZAR3.70 25,000 3 October 2016 Price(s) Volume(s) ZAR3.78 25,000 d) Aggregated information: Total Volume(s) ZAR188 762.69 50,491 e) Date of the transaction: 29 September 2016 – 3 October 2016 f) Place of the transaction: Johannesburg Stock Exchange Additional information disclosed in accordance with the JSE Listings Requirements: a) Nature of interest of executive: Beneficial b) On-market or off-market: On-market c) Clearance given in terms of paragraph 3.66 of the JSE Yes Listings Requirements: d) Holding following transactions: 530,675 Johannesburg 4 October 2016 CONTACT INFORMATION Corporate Office The Firs Office Building 1st Floor, Office 101 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office: + 27 (0) 11 243 2900 Facsimile: + 27 (0) 11 880 1240 Registered Office Suite 31 Second Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0) 207 796 8644 Facsimile: + 44 (0) 207 796 8645 Cobus Loots Deon Louw Pan African Resources PLC Pan African Resources PLC Chief Executive Officer Financial Director Office: + 27 (0) 11 243 2900 Office: + 27 (0) 11 243 2900 Phil Dexter John Prior / Paul Gillam St James's Corporate Services Limited Numis Securities Limited Company Secretary Nominated Adviser and Joint Broker Office: + 44 (0) 207 796 8644 Office: +44 (0) 20 7260 1000 Sholto Simpson Matthew Armitt / Ross Allister One Capital Peel Hunt LLP JSE Sponsor Joint Broker Office: + 27 (0) 11 550 5009 Office: +44 (0) 207 418 8900 Julian Gwillim Daniel Thöle Aprio Strategic Communications Bell Pottinger PR Public & Investor Relations SA Public & Investor Relations UK Office: +27 (0)11 880 0037 Office: + 44 (0) 203 772 2500 Jeffrey Couch/Neil Haycock/Thomas Rider BMO Capital Markets Limited Joint Broker Office: +44 (0) 207 236 1010 www.panafricanresources.com Date: 04/10/2016 08:00:00 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.