Posting of summarised consolidated AFS, no change statement, notice of AGM and availability of B-BBEE report Merafe Resources Limited (Incorporated in the Republic of South Africa) (Registration number: 1987/003452/06) JSE share code: MRF ISIN: ZAE000060000 (“Merafe” or the “Company”) POSTING OF SUMMARISED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS, NO CHANGE STATEMENT, NOTICE OF ANNUAL GENERAL MEETING AND AVAILABILITY OF B-BBEE REPORT 1. POSTING OF SUMMARISED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS, NO CHANGE STATEMENT AND AVAILABILITY OF THE INTEGRATED ANNUAL REPORT Shareholders of Merafe (“Shareholders”) are advised that the summarised consolidated annual financial statements of Merafe for the year ended 31 December 2019, accompanied by the notice of annual general meeting (“AGM”) have been distributed to Shareholders today, 26 March 2020. The annual financial statements (“AFS”), and the unmodified auditor’s report thereon, contain no modifications to the summarised consolidated annual financial statements published on SENS on 9 March 2020 or the auditor’s report thereon. The AFS and the 2019 Integrated Annual Report are available on the Company’s website at http://www.meraferesources.co.za/stake-annual-reports.php and copies may be obtained at the Company’s registered office (Building B, 2nd Floor, Ballyoaks Office Park, 35 Ballyclare Drive, Bryanston), on request from the Company Secretary. 2. NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the AGM will be held at the offices of the Company at Building B, 2nd Floor, Ballyoaks Office Park, 35 Ballyclare Drive, Bryanston at 11:00 on Friday, 22 May 2020, for the purpose of transacting the business as outlined in the notice of AGM. The record date for Shareholders to be recorded as such in the securities register of Merafe (“Register”) in order to be able to receive the notice of AGM is Friday, 20 March 2020. The record date for Shareholders to be recorded as such in the Register in order to be able to attend, participate and vote at the AGM is Friday, 15 May 2020. Accordingly, the last date to trade to be eligible to attend, participate and vote at the AGM is Tuesday, 12 May 2020. 3. AVAILABILITY OF THE BROAD-BASED BLACK ECONOMIC EMPOWERMENT (“B-BBEE”) ANNUAL COMPLIANCE REPORT Shareholders are advised that the Company’s annual compliance report prepared pursuant to section 13(G)(2) of the Broad-Based Black Economic Empowerment Act No. 53 of 2003, is available on the Company’s website at http://www.meraferesources.co.za/pdf/policies/2020/b-bbee-certificate.pdf. Sandton 26 March 2020 Sponsor One Capital Date: 26-03-2020 02:04:00 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.