Dealing in securities by a director of ARM African Rainbow Minerals Limited (Incorporated in the Republic of South Africa) (Registration Number 1933/004580/06) JSE Share code: ARI ISIN: ZAE000054045 (“ARM” or “the Company”) DEALING IN SECURITIES BY A DIRECTOR OF ARM Equity settlement of performance shares In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE Limited (“the Listings Requirements”), we provide the following information regarding the equity settlement of performance shares by ARM to the undermentioned Finance Director of the Company. These awards were made in terms of The African Rainbow Minerals Limited 2008 Share Plan and on recommendation of the Remuneration Committee, approved by ARM’s Board of Directors. The calculation for the equity settlement of these shares is based upon the closing ARM share price of R135.00 on 15 May 2020. Performance shares Date of transaction 15 June 2020 Nature of transaction Equity settlement of performance shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in off-market transactions Date of award 15 May 2017 Vesting date for settlement 18 May 2020 Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Gross value performance (before tax shares settled liability) R 1 A M Mukhuba Finance Director 43 829 R5 916 915.00 1 The gross value is at vesting date, and is calculated using the ARM closing share price on 15 May 2020 of R135.00. The requisite clearances and approvals for this transaction have been obtained in compliance with the securities dealing policies and procedures of ARM and paragraph 3.66 of the Listings Requirements. Sandton 17 June 2020 Sponsor to ARM: Investec Bank Limited Date: 17-06-2020 09:00:00 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.