Notice of Annual General Meeting and No Change Statement Pan African Resources PLC (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on AIM: PAF Share code on JSE: PAN ISIN: GB0004300496 (“Pan African” or “the Company”) Notice of Annual General Meeting and No Change Statement Notice of Annual General Meeting Notice is hereby given that the 2019 annual general meeting (“AGM”) of Pan African Resources will be held at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG on Thursday, 28 November 2019 at 11:00 (all times stated are United Kingdom times, unless otherwise stated). Shareholders are advised that the notice of AGM, including the abridged audited annual financial statements for the year ended 30 June 2019, will be distributed to shareholders on Monday, 28 October 2019. Shareholders are advised that the Company’s Integrated Annual Report, audited annual financial statements and notice of AGM for the year ended 30 June 2019 are available at http://www.panafricanresources.com/investors/financial-reports/ No Change Statement The Audited Annual Financial Statements for the year ended 30 June 2019 and the auditor’s report thereon contain no modifications to the information contained in the Provisional Summarised Audited Results for the year ended 30 June 2019 published on SENS on Wednesday, 18 September 2019. Salient dates relevant to the AGM 2019 The record date for the purpose of determining which shareholders are Friday, 18 October entitled to receive the convening notice of the AGM Last day to trade in the Company’s shares in order to be recorded as a Thursday, 21 November shareholder on the Company’s South African register by the voting record date The record date to determine which shareholders on the Company’s Tuesday, 26 November South African and United Kingdom registers are entitled to attend, speak and vote at the AGM (by close of business) Proxy instructions to be received by the Company’s South African Tuesday, 26 November Transfer Secretaries or United Kingdom Registrars by no later than 11:00 Annual General Meeting Thursday, 28 November Results of AGM released on SENS/RNS on or about Thursday, 28 November The above salient dates relevant to the AGM should be deemed as being the final salient dates and shareholders are therefore advised to disregard the meeting record dates set out in the Notice of Annual General Meeting. Johannesburg 28 October 2019 Contact information Corporate Office Registered Office The Firs Office Building Suite 31 2nd Floor, Office 204 Second Floor Cnr. Cradock and Biermann Avenues 107 Cheapside Rosebank, Johannesburg London South Africa EC2V 6DN Office: + 27 (0) 11 243 2900 United Kingdom info@paf.co.za Office: + 44 (0) 20 7796 8644 Cobus Loots Deon Louw Pan African Resources PLC Pan African Resources PLC Chief Executive Officer Financial Director Office: + 27 (0) 11 243 2900 Office: + 27 (0) 11 243 2900 Phil Dexter/Jane Kirton John Prior St James's Corporate Services Limited Numis Securities Limited Company Secretary Nominated Adviser and Joint Broker Office: + 44 (0) 20 7796 8644 Office: +44 (0) 20 7260 1000 Ciska Kloppers Ross Allister/David McKeown Questco Corporate Advisory Proprietary Limited Peel Hunt LLP JSE Sponsor Joint Broker Office: + 27 (0) 11 011 9200 Office: +44 (0) 20 7418 8900 Julian Gwillim Jeffrey Couch/Thomas Rider/Neil Elliot Aprio Strategic Communications BMO Capital Markets Limited Public & Investor Relations SA Joint Broker Office: +27 (0) 11 880 0037 Office: +44 (0) 20 7236 1010 Bobby Morse/Chris Judd Website: www.panafricanresources.com Buchanan Public and Investor Relations UK Office: +44 (0) 20 7466 5000 paf@buchanan.uk.com Date: 28/10/2019 09:24:00 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.