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TR-1: Standard form for notification of major holdings
Pan African Resources PLC Pan African Resources Funding
(Incorporated and registered in England and Wales Company Limited
under Companies Act 1985 with registered number Incorporated in the Republic of South
3937466 on 25 February 2000) Africa with limited liability
Share code on LSE: PAF Registration number: 2012/021237/06
Share code on JSE: PAN Alpha code: PARI
ISIN: GB0004300496
ADR code: PAFRY
('Pan African' or 'the Company' or 'the Group')
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GB0004300496
Issuer Name
PAN AFRICAN RESOURCES PLC
UK or Non-UK Issuer
UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Allan Gray Proprietary Limited
City of registered office (if applicable)
Cape Town
Country of registered office (if applicable)
South Africa
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the
notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
06-Jan-2026
6. Date on which Issuer notified
09-Jan-2026
7. Total positions of person(s) subject to the notification obligation
% of voting rights % of voting rights Total number of
attached to shares through financial Total of both in voting rights held
(total of 8.A) instruments (total of % (8.A + 8.B) in issuer
8.B 1 + 8.B 2)
Resulting situation
on the date on
which threshold 6.889300 0.000000 6.889300 160774222
was crossed or
reached
Position of previous
notification (if 8.998600 0.000000 8.998600
applicable)
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares Number of direct voting Number of indirect % of direct voting % of indirect
ISIN code(if rights (DTR5.1) voting rights rights (DTR5.1) voting rights
possible) (DTR5.2.1) (DTR5.2.1)
GB0004300496 160774222 6.889300
Sub Total 8.A 160774222 6.889300%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial Expiration Exercise/conversion Number of voting rights that may be % of
instrument date period acquired if the instrument is voting
exercised/converted rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to
(DTR5.3.1R.(1) (b))
Type of Expiration Exercise/conversion Physical or cash Number of voting % of voting
financial date period settlement rights rights
instrument
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person
or legal entity and does not control any other undertaking(s) holding directly or
indirectly an interest in the (underlying) issuer.
% of voting rights if % of voting rights through Total of both if it
Ultimate controlling Name of it equals or is higher financial instruments if it equals or is higher
person controlled than the notifiable equals or is higher than the than the notifiable
undertaking threshold notifiable threshold threshold
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
09-Jan-2026
13. Place Of Completion
Cape Town, South Africa
Rosebank
9 January 2026
For further information on Pan African, please visit the Company's website at
www.panafricanresources.com
Corporate information
Corporate Office Registered Office
The Firs Building 107 Cheapside, 2nd Floor
2nd Floor, Office 204 London, EC2V 6DN
Corner Cradock and Biermann Avenues United Kingdom
Rosebank, Johannesburg Office: + 44 (0)20 3869 0706
South Africa jane.kirton@corpserv.co.uk
Office: + 27 (0)11 243 2900
info@paf.co.za
Chief Executive Officer Financial Director and debt officer
Cobus Loots Marileen Kok
Office: + 27 (0)11 243 2900 Office: + 27 (0)11 243 2900
Head: Investor Relations Website: www.panafricanresources.com
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za
Company Secretary Joint Broker
Jane Kirton Ross Allister/Georgia Langoulant
St James's Corporate Services Limited Peel Hunt LLP
Office: + 44 (0)20 3869 0706 Office: +44 (0)20 7418 8900
JSE Sponsor & JSE Debt Sponsor Joint Broker
Ciska Kloppers Thomas Rider/Nick Macann
Questco Corporate Advisory Proprietary BMO Capital Markets Limited
Limited Office: +44 (0)20 7236 1010
Office: + 27 (0) 63 482 3802
Joint Broker
Matthew Armitt/Jennifer Lee
Joh. Berenberg, Gossler & Co KG
(Berenberg)
Office: +44 (0)20 3207 7800
Date: 09-01-2026 05:00:00
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