MERAFE RESOURCES LIMITED - Changes to the board of directors and audit and risk committee

Changes to the board of directors and audit and risk committee

MERAFE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE and A2X share code: MRF
ISIN: ZAE000060000
("Merafe" or "Company")

CHANGES TO THE BOARD OF DIRECTORS AND AUDIT AND RISK COMMITTEE

Merafe shareholders ("Shareholders") are advised that the Company has not been able to confirm that
Ms Matsotso Vuso, an independent non-executive director of Merafe, who will retire by rotation at the annual
general meeting scheduled for 11:00 on Wednesday, 13 May 2026 to be conducted entirely by electronic
participation ("2026 AGM"), remains available for re-election and she will therefore step down from the board of
directors of Merafe ("Board") at the conclusion of the 2026 AGM.

Accordingly, Shareholders are advised that Ordinary Resolution Numbers 2.1 and 3.1 contained in the notice
of the 2026 AGM have been withdrawn and will not be voted on at the 2026 AGM.

Consequent to the above, Ms Vuso will step down as member and chair of the Audit and Risk Committee with
effect from conclusion of the 2026 AGM. Subject to the approval of Ordinary Resolution Number 3.2 contained
in the notice of the 2026 AGM, Mr Katlego Tlale, an independent non-executive director of Merafe and currently
a member of the Audit and Risk Committee, will assume the role of chair of the Audit and Risk Committee with
effect from the conclusion of the 2026 AGM.

The Board wishes to thank Ms Vuso for her valuable service and contribution to Merafe since her appointment
as a director of the Company in 2018.


Sandton
12 May 2026

Sponsor
One Capital

Date: 12-05-2026 05:30:00
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.