Changes To The Board Of Directors Randgold & Exploration Company Limited (Incorporated in the Republic of South Africa) (Registration number 1992/005642/06) Share Code: RNG ISIN: ZAE000008819 (“the Company”) CHANGES TO THE BOARD OF DIRECTORS In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, the board of directors of the Company (“the Board”) wishes to advise shareholders that Mr Van Zyl Botha (“Mr Botha”), has stepped down as financial director (“FD”) of the Company with immediate effect and will remain as a non-executive director on the Board to preserve the corporate memory of the last 10 years of litigation. The board appreciates the worthy contributions Mr. Botha has made during his tenure as FD of the Company. Furthermore, shareholders are advised that in terms of paragraph 3.59(c) of the JSE Limited Listings Requirements, the Company is pleased to advise shareholders that Mr Marais Steyn (“Mr Steyn”) will take on the role of joint chief executive officer (“CEO”) and FD of the Company. The Issuer Regulation Division of the JSE Limited has granted dispensation to allow Mr Steyn to fulfil this dual role as CEO and FD of the Company on a permanent basis. The dispensation is based on the current status of the Company with limited operations as presented to the Issuer Regulation Division of the JSE Limited by the Company. The audit and risk committee of the Company is satisfied that Mr Steyn has the appropriate expertise and experience to act as FD of the Company. Mr Steyn comes with a wealth of relevant accounting and finance experience. He is a chartered accountant, previously founded an audit practice and corporate finance advisory firm, has been appointed as an executive director and a financial director of JSE-listed companies and fills a number of non-executive board appointments. Johannesburg 27 February 2019 Sponsor PSG Capital Date: 27/02/2019 05:15:00 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.