AFRICAN RAINBOW MINERALS LIMITED - Dealings in securities

Dealings in securities

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

Award and acceptance of conditional shares

In compliance with paragraphs 3.63 to 3.66 of the Listings
Requirements of the JSE Limited (“the Listings Requirements”),
we hereby provide the following information regarding the award
to and acceptance of conditional shares by the undermentioned
Executive Directors and Prescribed Officer of the Company, and
the undermentioned Director of Two Rivers Platinum Proprietary
Limited, a major subsidiary of the Company:

Conditional Shares
Acceptance date                14 December 2020
Nature of transaction          Off-market awards and acceptance of
                               conditional shares in terms of The
                               African Rainbow Minerals Limited
                               2018 Conditional Share Plan
Vesting date for settlement    8 December 2023
Class of securities            Ordinary shares
Extent of interest             Direct, beneficial


Name             Designation                   Number of     Value of
                                             conditional        award
                                                 shares*            R

PT Motsepe, Dr   Executive Chairman               70 909   17 101 896

MP Schmidt       Chief Executive Officer          61 828   14 911 733

TTA Mhlanga      Finance Director                 27 573    6 650 081

A Joubert        Prescribed Officer               30 203    7 284 387

NV Khumalo       Director of Two Rivers           15 822    3 815 964
                 Platinum Proprietary
                 Limited, a major
                 subsidiary of ARM

J Magagula       Executive Director               28 219    6 805 884

HL Mkatshana     Executive Director               26 422    6 372 482


* The vesting of the conditional shares is conditional on pre-
determined performance conditions 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 4 December 2020, which was R241.1809.

The requisite clearances and approvals for this transaction
have been obtained in compliance with the Securities Dealing
Policies and Procedures of ARM and paragraph 3.66 of the
Listings Requirements.


Sandton
15 December 2020

Sponsor to ARM:
Investec Bank Limited

Date: 15-12-2020 03:00:00
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