African Rainbow Minerals : Closing Of The Acquisition By Arm Of Bokoni Platinum Mines Proprietary Limited

African Rainbow Minerals Limited (Incorporated in the Republic of South Africa) (Registration number 1933/004580/06)

JSE Share code: ARI

ISIN: ZAE000054045

("ARM" or the "Company")

CLOSING OF THE ACQUISITION BY ARM OF BOKONI PLATINUM MINES PROPRIETARY LIMITED

Shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Limited on 20 December 2021 in which ARM confirmed that the Company had entered into a sale and purchase agreement which provides for a wholly owned subsidiary of ARM to acquire all the shares of Bokoni Platinum Mines Proprietary Limited for a consideration of R3.5 billion payable in cash (the "Transaction"), subject to certain conditions being met.

Shareholders are advised that all the conditions precedent to the Transaction have now been fulfilled and the Transaction has become unconditional. The effective date of the Transaction is expected to be 1 September 2022.

Johannesburg

12 August 2022

Transaction Advisor and Transaction Sponsor: The Standard Bank of South Africa Limited

Financial Advisor to ARM: Oxford Partners (Pty) Limited

Legal Advisor: Bowmans

Technical Consultants: Worley RSA (Pty) Limited

Sponsor: Investec Bank Limited

For all investor relations queries please contact:

Jongisa Magagula - Executive Director: Investor Relations and New Business Development

Tel:	[phone]
Mobile:	[phone]
E-mail:	[e-mail]