Notice of availability of the guarantor’s interim results and financial covenant testing Pan African Resources Funding Company Limited Incorporated in the Republic of South Africa with limited liability Registration number: 2012/021237/06 Company code: PARI (PAR Funding Company or the Issuer) NOTICE OF AVAILABILITY OF THE GUARANTOR'S INTERIM RESULTS AND FINANCIAL COVENANT TESTING Noteholders are advised that PAR Funding Company's guarantor, Pan African Resources PLC (Pan African Resources or the Guarantor), has publicly released its unaudited interim results for the six months ended 31 December 2023 (interim results) on 14 February 2024. The interim results are accessible via the JSE link at https://senspdf.jse.co.za/documents/2024/jse/isse/pan/INT2023.pdf and via the Guarantor's website at [https://www.panafricanresources.com/wp-content/uploads/Pan-African- Resources-interim-results-SENS-announcement-2024.pdf] Copies of the Guarantor's interim results may also be requested by emailing at ExecPA@paf.co.za and electronically via the Guarantor's sponsor (sponsor@questco.co.za) at no charge during business hours. Financial Covenant testing In accordance with Condition 12.7 of the Issuer's ZAR5 billion Domestic Medium Term Note Programme, Noteholders are advised that the Financial Covenants, as measured against the Guarantor's interim results, are as follows: Unaudited six Unaudited six months ended months ended 31 December 31 December Covenant Measurement at period-end 2023 2022 Net debt-to-equity ratio Must be less than 1:1 0.2 0.2 Net debt-to-adjusted EBITDA ratio Must be less than 2:1 0.5 0.5 Interest cover ratio Must be greater than 4:1 16.7 26.9 Debt service cover ratio Must be greater than 1:3 4.6 8.5 Rosebank 14 February 2024 Debt sponsor Questco Corporate Advisory Proprietary Limited Date: 14-02-2024 09:01:00 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.