Production report for the quarter and year ended 31 December 2020 MERAFE RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003452/06) Share Code: MRF ISIN: ZAE000060000 (“Merafe” or the “Company”) Production report for the quarter and year ended 31 December 2020 Merafe’s attributable ferrochrome production from the Glencore Merafe Chrome Venture in the fourth quarter and year ended 31 December 2020 decreased by approximately 8% and 29%, respectively compared to the quarter and year ended 31 December 2019. As reported in the announcement published on SENS on 27 July 2020, the decrease is as a result of production cutbacks in response to COVID-19, market conditions and electricity curtailments to a limited extent. Quarter ended Year ended 31 31 31 31 December December December December 2020 2019 2020 2019 Attributable ferrochrome production (kt) 97 105 265 371 The information contained in this announcement does not constitute an earnings forecast. The information provided is the responsibility of the directors of Merafe, and such information has not been reviewed or reported on by the Company’s auditors. Sandton 13 January 2021 Sponsor One Capital Date: 13-01-2021 03:17:00 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.