Assmang Dividend Update

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")


ASSMANG DIVIDEND UPDATE

Shareholders are advised that there are ongoing discussions
amongst the directors of Assmang Proprietary Limited ("Assmang")
who have been appointed to the Assmang board of directors
("Assmang Board") by ARM and Assore South Africa Proprietary
Limited ("Assore") to determine the quantum of an appropriate
final dividend to be declared and paid by Assmang to its
shareholders in respect of the financial year ended 30 June
2025.

In terms of the Memorandum of Incorporation of Assmang, the
Assmang Board seeks to maximise the payment of dividends to the
Assmang shareholders, on a bi-annual basis, having regard to the
financial requirements of Assmang at the time of declaring each
dividend. The cash and cash equivalents at Assmang as at 30 June
2025 which were attributable to ARM were equal to ZAR3 568
million and this amount excludes any additional free cashflow
generated by Assmang after 30 June 2025.

The Company will keep shareholders informed.

For more information please contact:

Ms Thabang Thlaku
Executive: Investor Relations and New Business Development
Tel: +27 11 779 1300
Email: thabang.thlaku@arm.co.za

Sandton

10 November 2025

Sponsor: Investec Bank Limited

Date: 10-11-2025 09:30:00
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.