TR-1: Standard form for notification of major holdings
Shareholding changeNot material
In brief
BlackRock, Inc. reached a 5.000000% total holding of voting rights in the company on 23 October 2026, comprising 2.970000% attached to shares and 2.030000% through financial instruments, up from below 5%.
The announcement
TR-1: Standard form for notification of major holdings Pan African Resources PLC Pan African Resources Funding Company Limited (Incorporated and registered in England and Wales Incorporated in the Republic of South Africa with under the Companies Act 1985 with registered number limited liability 3937466 on 25 February 2000) Registration number: 2012/021237/06 Share code on LSE: PAF Alpha code: PARI Share code on JSE: PAN Share code on ASX: PAF ISIN: GB0004300496 ADR ticker code: PAFRY (‘Pan African’ or ‘PAF’ or the ‘Company’) TR-1: Standard form for notification of major holdings 1. Issuer Details ISIN GB0004300496 Issuer Name PAN AFRICAN RESOURCES PLC UK or Non-UK Issuer UK 2. Reason for Notification An acquisition or disposal of voting rights 3. Details of person subject to the notification obligation Name BlackRock, Inc. City of registered office (if applicable) Wilmington Country of registered office (if applicable) USA 4. Details of the shareholder Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above City of registered office (if applicable) Country of registered office (if applicable) 5. Date on which the threshold was crossed or reached 23-Oct-2026 6. Date on which Issuer notified 26-Oct-2026 7. Total positions of person(s) subject to the notification obligation % of voting % of voting rights Total of both Total number of rights attached through financial in % (8.A + voting rights held to shares (total instruments (total 8.B) in issuer of 8.A) of 8.B 1 + 8.B 2) Resulting 2.970000 2.030000 5.000000 122175103 situation on the date on which threshold was crossed or reached Position of Below 5% Below 5% Below 5% previous notification (if applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached 8A. Voting rights attached to shares Class/Type of Number of direct Number of indirect % of direct % of indirect voting shares ISIN voting rights voting rights voting rights rights (DTR5.2.1) code(if possible) (DTR5.1) (DTR5.2.1) (DTR5.1) GB0004300496 72563297 2.970000 Sub Total 8.A 72563297 2.970000% 8B1. Financial Instruments according to (DTR5.3.1R.(1) (a)) Type of financial Expiration date Exercise/conversion Number of voting % of voting instrument period rights that may be rights acquired if the instrument is exercised/converted Securities 49591430 2.030000 Lending Sub Total 8.B1 49591430 2.030000% 8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b)) Type of Expiration Exercise/conversion Physical or cash Number of % of voting financial date period settlement voting rights rights instrument CFD Cash 20376 0.000000 Sub Total 8.B2 20376 0.000000% 9. Information in relation to the person subject to the notification obligation 2. 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 entities (please add additional rows as necessary) Ultimate Name of controlled % of voting % of voting rights Total of both if controlling person undertaking rights if it through financial it equals or is equals or is instruments if it higher than higher than the equals or is higher the notifiable notifiable than the notifiable threshold threshold threshold BlackRock, BlackRock Saturn Inc. (Chain Subco, LLC 1) BlackRock, BlackRock Inc. (Chain Finance, Inc. 1) BlackRock, BlackRock Holdco Inc. (Chain 2, Inc. 1) BlackRock, BlackRock Inc. (Chain Financial 1) Management, Inc. BlackRock, BlackRock Inc. (Chain International 1) Holdings, Inc. BlackRock, BR Jersey Inc. (Chain International 1) Holdings L.P. BlackRock, BlackRock Holdco Inc. (Chain 3, LLC 1) BlackRock, BlackRock Inc. (Chain Cayman 1 LP 1) BlackRock, BlackRock Inc. (Chain Cayman West Bay 1) Finco Limited BlackRock, BlackRock Inc. (Chain Cayman West Bay 1) IV Limited BlackRock, BlackRock Group Inc. (Chain Limited 1) BlackRock, BlackRock Inc. (Chain Investment 1) Management (UK) Limited BlackRock, BlackRock Saturn Inc. (Chain Subco, LLC 2) BlackRock, BlackRock Inc. (Chain Finance, Inc. 2) BlackRock, BlackRock Holdco Inc. (Chain 2, Inc. 2) BlackRock, BlackRock Inc. (Chain Financial 2) Management, Inc. BlackRock, BlackRock Holdco Inc. (Chain 4, LLC 2) BlackRock, BlackRock Holdco Inc. (Chain 6, LLC 2) BlackRock, BlackRock Inc. (Chain Delaware 2) Holdings Inc. BlackRock, BlackRock Inc. (Chain Institutional Trust 2) Company, National Association BlackRock, BlackRock Saturn Inc. (Chain Subco, LLC 3) BlackRock, BlackRock Inc. (Chain Finance, Inc. 3) BlackRock, BlackRock Holdco Inc. (Chain 2, Inc. 3) BlackRock, BlackRock Inc. (Chain Financial 3) Management, Inc. BlackRock, BlackRock Holdco Inc. (Chain 4, LLC 3) BlackRock, BlackRock Holdco Inc. (Chain 6, LLC 3) BlackRock, BlackRock Inc. (Chain Delaware 3) Holdings Inc. BlackRock, BlackRock Fund Inc. (Chain Advisors 3) BlackRock, BlackRock Saturn Inc. (Chain Subco, LLC 4) BlackRock, BlackRock Inc. (Chain Finance, Inc. 4) BlackRock, BlackRock Holdco Inc. (Chain 2, Inc. 4) BlackRock, BlackRock Inc. (Chain Financial 4) Management, Inc. BlackRock, BlackRock Saturn Inc. (Chain Subco, LLC 5) BlackRock, BlackRock Inc. (Chain Finance, Inc. 5) BlackRock, BlackRock Holdco Inc. (Chain 2, Inc. 5) BlackRock, BlackRock Inc. (Chain Financial 5) Management, Inc. BlackRock, BlackRock Inc. (Chain International 5) Holdings, Inc. BlackRock, BR Jersey Inc. (Chain International 5) Holdings L.P. BlackRock, BlackRock Holdco Inc. (Chain 3, LLC 5) BlackRock, BlackRock Inc. (Chain Cayman 1 LP 5) BlackRock, BlackRock Inc. (Chain Cayman West Bay 5) Finco Limited BlackRock, BlackRock Inc. (Chain Cayman West Bay 5) IV Limited BlackRock, BlackRock Group Inc. (Chain Limited 5) BlackRock, BlackRock Inc. (Chain (Netherlands) 5) B.V. BlackRock, BlackRock Asset Inc. (Chain Management 5) Deutschland AG BlackRock, BlackRock Saturn Inc. (Chain Subco, LLC 6) BlackRock, BlackRock Inc. (Chain Finance, Inc. 6) BlackRock, BlackRock Holdco Inc. (Chain 2, Inc. 6) BlackRock, BlackRock Inc. (Chain Financial 6) Management, Inc. BlackRock, BlackRock Inc. (Chain International 6) Holdings, Inc. BlackRock, BlackRock Canada Inc. (Chain Holdings ULC 6) BlackRock, BlackRock Asset Inc. (Chain Management 6) Canada Limited BlackRock, BlackRock Saturn Inc. (Chain Subco, LLC 7) BlackRock, BlackRock Inc. (Chain Finance, Inc. 7) BlackRock, BlackRock Holdco Inc. (Chain 2, Inc. 7) BlackRock, BlackRock Inc. (Chain Financial 7) Management, Inc. BlackRock, BlackRock Inc. (Chain International 7) Holdings, Inc. BlackRock, BR Jersey Inc. (Chain International 7) Holdings L.P. BlackRock, BlackRock Holdco Inc. (Chain 3, LLC 7) BlackRock, BlackRock Inc. (Chain Cayman 1 LP 7) BlackRock, BlackRock Inc. (Chain Cayman West Bay 7) Finco Limited BlackRock, BlackRock Inc. (Chain Cayman West Bay 7) IV Limited BlackRock, BlackRock Group Inc. (Chain Limited 7) BlackRock, BlackRock Inc. (Chain Advisors (UK) 7) Limited 10. In case of proxy voting Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held If date does not apply, explain below 11. Additional Information BlackRock Regulatory Threshold Reporting Team Jana Blumenstein 020 7743 3650 12. Date of Completion 26th October 2026 13. Place Of Completion 12 Throgmorton Avenue, London, EC2N 2DL, U.K. Johannesburg 26 October 2026 For further information on Pan African, please visit the Company's website at www.panafricanresources.com 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 jane.kirton@corpserv.co.uk Office: + 27 (0)11 243 2900 info@paf.co.za 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: hhira@paf.co.za 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 and 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) 78 286 9556 Joint broker Matthew Armitt/Jennifer Lee Joh. Berenberg, Gossler & Co KG (Berenberg) Office: +44 (0)20 3207 7800 Date: 26/10/2026 05:15:00 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.