Pan African Resources Investor Presentation — June 2021

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OTCQX: PAFRY/PAFRF2

The name 'Presenter' refers toPan African Resources PLC and itsadvisors, subsidiaries oraffiliated companies .

This presentation has not been filed, lodged, registered orapproved inany jurisdiction and recipients ofthis document should keep themselves informed ofand comply with and observe all

applicable legal and regulatory requirements .

Statements orassumptions inthis presentation astofuture matters may prove tobeincorrect .The Presenter makes norepresentation orwarranty astothe accuracy ofsuch statements or

assumptions .Circumstances may change and the contents ofthis presentation may become outdated asaresult, and the Presenter has noobligation toupdate the presentation orcorrect any

inaccuracies oromissions inthis presentation .

This presentation may notbereproduced inwhole orinpart, normay any ofitscontents bedivulged toany third party without theprior consent inwriting ofthePresenter .

The recipient acknowledges that neither itnor the Presenter intends that the Presenter actorberesponsible asafiduciary tothe recipient, itsmanagement, stockholders, creditors orany other

person .Each ofthe recipient and the Presenter, byaccepting and providing this presentation respectively, expressly disclaims any fiduciary relationship and agrees that the recipient is

responsible formaking itsown independent judgments with respect toany transaction and any other matters regarding this presentation .

Furthermore, the information contained inthis presentation may also qualify as“inside information” asdefined inthe Financial Markets Act (Act No.19of2012 )(‘FMA’) .Interms ofthe FMA itisa

criminal offence foraperson who knows that heorshe has inside information to:

•deal directly orindirectly orthrough anagent forhisorherown account, orfortheaccount ofanother person, inlisted securities towhich theinside information relates ;

•disclose theinside information toanother other than intheproper course ofaperson’s employment, profession orduties ;and

•encourage orcause another person todeal ordiscourage orstop another person from dealing inthelisted securities towhich theinside information relates .

The Presenter shall not have any liability forany loss suffered due toreliance being placed onthis presentation the information contained herein orthe oral presentations referred to.This

presentation isforinformational purposes only and isnotintended toprovide legal, tax, financial, investment orother advice .You must make your own examination ofthetax, legal, financial and

other consequences ofthis proposal and you should nottreat thecontents ofthis presentation asadvice inrelation toany such matters .Ifyou areinany doubt astowhat action you should take,