Dealings in securities by Directors and 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 Company Secretary Award and acceptance of conditional 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 performance shares by the undermentioned Executive Directors and Company Secretary of the Company: Performance shares Acceptance date 12 December 2016 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 10 December 2019 Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Value of Performance award** Shares * R PT Motsepe Executive Chairman 244 653 25 874 501 MP Schmidt Chief Executive Officer 193 452 20 459 484 M Arnold Financial Director 120 270 12 719 755 HL Mkatshana Executive Director 66 762 7 060 749 AJ Wilkens Executive Director 124 630 13 180 869 AN D’Oyley Company Secretary 8 089 855 493 * 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 8 December 2016, which was R105.76. The Board of Directors of ARM, on the recommendation of the Remuneration Committee, approved the award of the performance shares as set out above in terms of paragraph 3.66 of the Listings Requirements. Sandton 14 December 2016 Sponsor to ARM: Deutsche Securities (SA) Proprietary Limited Date: 14/12/2016 04:25:00 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.