Notification of change in Auditor Pan African Resources PLC (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on AIM: PAF Share code on JSE: PAN ISIN: GB0004300496 (“the Company”) NOTIFICATION OF CHANGE IN AUDITOR Shareholders are advised that following the completion of a competitive tender process, PricewaterhouseCoopers LLP has been appointed as the Company’s external auditor, effective 7 December 2018, replacing Deloitte and Touche LLP. The change in audit firm is subject to approval by shareholders of the Company at the next annual general meeting of the Company. The Company initiated this change as a result of the adoption of an audit firm rotation process. Rosebank 19 December 2018 Sponsor Questco Corporate Advisory (Proprietary) Limited Contact information Corporate Office Registered Office The Firs Office Building Suite 31, Second Floor 1st Floor, Office 101 107 Cheapside Cnr. Cradock and Biermann Avenues London Rosebank, Johannesburg EC2V 6DN South Africa United Kingdom Office: + 27 (0) 11 243 2900 Office: + 44 (0) 20 7796 8644 Facsimile: + 27 (0) 11 880 1240 Cobus Loots Deon Louw Pan African Resources PLC Pan African Resources PLC Chief Executive Officer Financial Director Office: + 27 (0) 11 243 2900 Office: + 27 (0) 11 243 2900 Phil Dexter John Prior / Paul Gillam St James's Corporate Services Limited Numis Securities Limited Company Secretary Nominated Adviser and Joint Broker Office: + 44 (0) 20 7796 8644 Office: +44 (0) 20 7260 1000 Questco Corporate Advisory (Proprietary) Limited JSE Sponsor Office: +27 (0) 11 011 9200 Date: 19/12/2018 04:30:00 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.