Integrated Annual Report 2022

We present to you the Integrated Annual Report for the Merafe Group, which includes Merafe Resources Limited (Merafe), a company listed on the JSE, Merafe Ferrochrome and Mining Proprietary Limited (Merafe Ferrochrome) and its subsidiaries for the year ended 31 December 2022 (in this report referred to as "Merafe", the "Merafe Group" or "Group" or the "Company"). The scope of this report also includes the Glencore-Merafe Chrome Venture (the Venture).