MERAFE RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003452/06) Share Code: MRF

ISIN: ZAE000060000

("Merafe" or the "Company")

DEALING IN SECURITIES BY A DIRECTOR OF MERAFE

In compliance with paragraphs 3.63 - 3.66 of the Listings Requirements of the JSE Limited, the following information is provided:

Vesting of shares in terms of the Share Incentive Scheme ("Scheme")

In terms of the Scheme, the following grant shares vested on 6 August 2022. The Company has the right, at its election, either to issue new Merafe ordinary shares or settle in cash. The Company has opted to settle the respective grant shares in cash.

Name of director:

Ditabe Chocho (Financial Director of the

Company)

Date of transaction:

6 August 2022

Class of security:

Ordinary shares

Nature of transaction:

Vesting of shares in terms of the Scheme

Number of shares vested:

104 167

Issue price per share:

Nil

Strike price per share:

R1.44

Total value of transaction:

R150 000

Transaction completed:

Off market

Nature and extent of director's interest in the

Direct beneficial

transaction:

Clearance obtained:

Yes

Sandton

10 August 2022

Sponsor

One Capital

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Merafe Resources Ltd. published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 06:55:02 UTC.