TR-1: Standard form for notification of major holdings

 

 NOTIFICATION OF MAJOR HOLDINGS     (to be sent to the relevant issuer   and
to the FCA in Microsoft Word format if possible) i



                                        Pan African Resources PLC



                                        (Incorporated and registered in England
                                        and Wales



                                        under the Companies Act 1985 with
                                        registration

 1a. Identity of the issuer or the
underlying issuer of existing shares to
which voting rights are attached  ii  : number 3937466 on 25 February 2000)



                                        Share code on AIM: PAF



                                        Share code on JSE: PAN



                                        ISIN: GB0004300496

 1b. Please indicate if the issuer is a non-UK issuer     (please mark with an
“X” if appropriate)

Non-UK issuer

 2. Reason for the notification  (please mark the appropriate box or boxes with
an “X”)

An acquisition or disposal of voting rights                                   X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify) iii :

 3. Details of person subject to the notification obligation  iv

Name                                    Peregrine Capital (Pty) Ltd

City and country of registered office   Johannesburg, SOUTH AFRICA.
(if applicable)

 4. Full name of shareholder(s)   (if different from 3.) v

Name

City and country of registered office
(if applicable)

 5. Date on which the threshold was     08/04/2026
crossed or reached  vi  :

 6. Date on which issuer notified       10/04/2026
(DD/MM/YYYY):

 7. Total positions of person(s) subject to the notification obligation

                                                                             Tot
                                                                             al
                                                                             num
                                                                             ber
                                       % of voting rights                    of
                    % of voting rights through financial  Total of both in % vot
                    attached to shares instruments        (8.A + 8.B)        ing
                    (total of 8. A)    (total of 8.B 1 +                     rig
                                       8.B 2)                                hts
                                                                             of
                                                                             iss
                                                                             uer
                                                                             vii

Resulting situation                                                          91,
on the date on      3.94               0                  3.94               948
which threshold was                                                          ,21
crossed or reached                                                           0

Position of
previous
notification (if    4.69               0                  4.69

applicable)

 

 8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached  viii

 A: Voting rights attached to shares

 Class/type  Number of voting rights  ix        % of voting rights
of
 shares                            Indirect     Direct              Indirect
             Direct
ISIN code                         (Art 10 of   (Art 9 of Directive (Art 10 of
(if         (Art 9 of Directive   Directive    2004/109/EC)        Directive
possible)   2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.1)            2004/109/EC)
                                  (DTR5.2.1)                       (DTR5.2.1)

GB000430049691,948,210                         3.94





 SUBTOTAL   91,948,210                         3.94
8. A





 B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
(DTR5.3.1.1 (a))

                         Exercise/   Number of voting rights that
 Type of     Expiration             may be acquired if the          % of voting
financial                Conversion instrument is                  rights
instrument   date  x    Period  xi
                                     exercised/converted.







                         SUBTOTAL
                        8. B 1













 B 2: Financial Instruments with similar economic effect according to Art. 13
(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

                         Exercise/  Physical or
 Type of    Expiration             cash          Number of voting   % of voting
financial                Conversion             rights             rights
instrument  date  x     Period  xi  settlement
                                   xii







                                    SUBTOTAL
                                   8.B.2

 

 9. Information in relation to the person subject to the notification
obligation  (please mark the

applicable box with an “X”)

Person subject to the notification obligation is not
controlled by any natural person or legal entity and
does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying)
issuer xiii

 Full   chain of controlled undertakings through which
the voting rights and/or the
financial instruments are effectively held starting
with the ultimate controlling natural person or legal
entity xiv  (please add additional rows as necessary)

                                   % of voting rights
           % of voting rights if  through financial    Total of both if it
 Name  xv it equals or is higher  instruments if it   equals or is higher than
          than the notifiable     equals or is higher the notifiable threshold
          threshold               than the notifiable
                                  threshold













 10.   In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights
held

The date until which the voting
rights will be held



 11. Additional information  xvi

 

 _______________________________________________
| Place of completion|JOHANNESBURG, SOUTH AFRICA|
|____________________|__________________________|
| Date of completion |10/04/2026                |
|____________________|__________________________|