Pan African Resources Plc – Capital Reduction Court Approval

Pan African Resources PLCPan African Resources Funding Company

(Incorporated and registered in England and Wales Limited

under Companies Act 1985 with registered Incorporated in the Republic of South
Africa

number 3937466 on 25 February 2000)with limited liability

Share code on LSE: PAFRegistration number: 2012/021237/06

Share code on JSE: PANAlpha code: PARI

ISIN: GB0004300496

ADR code: PAFRY

(«Pan African» or «the Company» or «the Group»)

CAPITAL REDUCTION COURT APPROVAL

Pan African shareholders (Shareholders) are referred to the announcements
published on 17February2026 and 26 March 2026 and the notice of general meeting
and circular to Shareholders, dated 17February2026, relating to, inter alia, the
proposed share capital reduction involving the cancellation of the Company’s
share premium account and the cancellation and extinguishment of certain shares
in the Company’s capital (Capital Reduction).

Pan African is pleased to advise that, at the hearing of the High Court of
Justice in England and Wales (Court) held today, 28 April 2026, the Court
approved the Capital Reduction. The Capital Reduction will become effective on
the date on which the order of the Court confirming the Capital Reduction is
registered at Companies House in the UK, which is expected to occur in the
coming weeks. A further announcement will be published once the Capital
Reduction becomes effective.

For further information on Pan African, please visit the Company’s website at

www.panafricanresources.com

Rosebank

28 April 2026

Corporate information
Corporate Office Registered Office

The Firs Building 107 Cheapside, 2nd Floor

2nd Floor, Office 204 London, EC2V 6DN

Corner Cradock and Biermann Avenues United Kingdom

Rosebank, Johannesburg Office: + 44 (0)20 3869
0706
South Africa
[email protected]
Office: + 27 (0)11 243 2900

[email protected]
Chief Executive Officer  Financial Director and debt
officer
Cobus Loots
Marileen Kok
Office: + 27 (0)11 243
2900                                          Office: + 27 (0)11 243 2900
Head: Investor Relations Website:
www.panafricanresources.com
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: [email protected]
Company Secretary Joint Broker

Jane Kirton Ross Allister/Georgia
Langoulant
St James’s Corporate Services Limited
Peel Hunt LLP
Office: + 44 (0)20 3869 0706
Office: +44 (0)20 7418 8900
JSE Sponsor & JSE Debt Sponsor Joint Broker

Ciska Kloppers Thomas Rider/Nick Macann

Questco Corporate Advisory Proprietary BMO Capital Markets Limited
Limited
Office: +44 (0)20 7236 1010
Office: + 27 (0) 63 482 3802
Joint Broker

Matthew Armitt/Jennifer Lee

Joh. Berenberg, Gossler &
Co KG (Berenberg)

Office: +44 (0)20 3207 7800

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