Results of Annual General Meeting Bauba Resources Limited Incorporated in the Republic of South Africa (Registration number 1986/004649/06) Share code: BAU ISIN: ZAE000145686 (“Bauba”) RESULTS OF ANNUAL GENERAL MEETING Shareholders are advised that, at the annual general meeting of Bauba (“AGM”) held today, all the resolutions as set out in the notice of AGM were passed by the requisite majority of shareholders, save for ordinary resolution: o number 1.3 “Re-election of Mr Sholto Dolamo as an independent non-executive director”; and o number 2.2 “Appointment of Mr Sholto Dolamo as a member of the audit and risk committee”, which ordinary resolutions were, further to the resignation of Mr Sholto Dolamo as announced on SENS on 6 December 2019, withdrawn prior to the commencement of the AGM. The number of shares voted in person or by proxy was 302 410 097, representing 80% of the total issued share capital of the same class of Bauba shares. The resolutions proposed at the meeting, as well as the percentage of votes carried for and against each resolution, together with the percentage of shares abstained, are set out below: % of votes % of votes % carried for the against the of shares Resolution resolution resolution abstained Ordinary resolution number 1: Appointment and re-election of directors 1.1 Confirmation of appointment of Ms Thabile Makgala, as an independent non-executive director 99.97 0.03 0.03 1.2 Re-election of Mr Martin Luyt, as an independent non-executive director 99.97 0.03 0.03 1.3 Re-election of Mr Sholto Dolamo as an independent non-executive director n/a n/a n/a Ordinary resolution number 2: Election of independent non-executive directors to the audit and risk committee 2.1 Appointment of Mr Martin Luyt as a member and chairperson of the audit and risk committee 99.97 0.03 0.03 2.2 Appointment of Mr Sholto Dolamo as a member of the audit and risk committee n/a n/a n/a 2.3 Appointment of Mr Damian Smith as a member of the audit and risk committee 99.97 0.03 0.03 Ordinary resolution number 3: Re-appointment of external auditor 99.97 0.03 0.03 Ordinary resolution number 4: Signature of documents 99.97 0.03 0.03 Ordinary resolution number 5: General approval to issue ordinary shares, including to sell treasury shares, for cash 99.97 0.03 0.03 Ordinary resolution number 6: Advisory endorsement of remuneration policy and implementation report 6.1 Approval of remuneration policy 100.00 0.00 0.03 6.2 Approval of implementation report 99.96 0.04 0.03 Ordinary resolution number 7: Amendment to the Bauba Share Incentive Plan 99.96 0.04 0.03 Special resolution number 1: Non-executive directors’ remuneration 99.96 0.04 0.03 Special resolution number 2: General authority to repurchase securities 99.97 0.03 0.03 Special resolution number 3: Financial assistance for subscription of securities 99.97 0.03 0.03 Special resolution number 4: Financial assistance to directors and/or related or inter-related entities 99.97 0.03 0.03 Johannesburg 12 December 2019 Sponsor Merchantec Capital Date: 12-12-2019 04:30:00 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.