Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlyingissuer Pan African Resources Plcof existing shares to which voting rights areattached:ii 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which may resultin the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the Prudential Portfolio Managers (South Africa)notification obligation:iii (Pty) Limited 4. Full name of shareholder(s) (if different from 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 25 April 2013reached: v 6. Date on which issuer notified: 06 November 2013 7. Threshold(s) that is/are crossed or 5%reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type Situation previous Resulting situation after the triggering transactionof to the triggeringshares transaction Number Number Number Number of voting % of voting rights xif possible of of of shares rightsusing Shares Votingthe ISIN Rights Direct Direct xi Indirect Direct IndirectCODE xii GB0004300496 Below 5% Below 5% 92,085,446 92,085,446 0 5.03% 0 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of votinginstrument Conversion Period xiv rights that may be rights date acquired if the xiii instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting % of voting rightsfinancial price date Conversion rights instrument xix, xxinstrument xvii period xviii refers to Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 92,085,446 5.03% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi Prudential Portfolio Managers (South Africa) (Pty) Limited Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will cease N/Ato hold: 12. Date on which proxy holder will cease to hold N/Avoting rights: 13. Additional information: Our current total position is 110,425,505 (6.04%) as at 05 November 2013. 14. Contact name: James Todd / Mark Thomas 15. Contact telephone number: 020 7548 2293 / 020 7548 3266