Provision of financial assistance to Palabora Copper (Pty) Limited PALABORA MINING COMPANY LIMITED (Incorporated in the Republic of South Africa) Registration number – 1956/002134/06 JSE Code: PAM ISIN: ZAE000005245 ("Palabora" or "the Company") PROVISION OF FINANCIAL ASSISTANCE TO PALABORA COPPER PROPRIETARY LIMITED Shareholders of Palabora are given notice, in accordance with section 45(5) of the Companies Act, 71 of 2008 ("Companies Act"), that a resolution of the board of directors of Palabora contemplated by sections 45(2) and 45(3) of the Companies Act was adopted on 28 February 2014. The resolution authorises Palabora to provide financial assistance to its subsidiary, Palabora Copper Proprietary Limited ("Palabora Copper"), in the form of a subordination of Palabora's claims against Palabora Copper in respect of: (i) the acquisition loan advanced by Palabora to Palabora Copper in relation to Palabora's broad-based black economic empowerment transaction (in an approximate sum of R2.5 billion); and (ii) the funding advanced by Palabora to Palabora Copper for the Lift II Project (consisting of two separate loans amounting to approximately R437 million and R350 million respectively). In accordance with section 45 of the Companies Act, the board of directors of Palabora is satisfied that: (i) immediately after providing such financial assistance, Palabora would satisfy the solvency and liquidity test as contemplated in section 4 of the Companies Act; (ii) the terms under which such financial assistance is proposed to be given are fair and reasonable to Palabora; and (iii) any conditions or restrictions respecting the granting of financial assistance set out in Palabora's Memorandum of Incorporation have been satisfied. Phalaborwa 14 March 2014 Sponsor One Capital Date: 14/03/2014 01:37:00 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.