Condensed Consolidated

Interim Results for the

six months ended

30 June 2022

Creating economic value for all our stakeholders by delivering

MORE THAN MINING

OUR BUSINESS AT A GLANCE

RBPlat is a mid-tier producer of platinum group metals (PGMs) listed on the Johannesburg Stock Exchange with operations on shallow long-lifeMerensky and UG2 ore bodies located on the Bushveld Igneous Complex in the North West province of South Africa. We focus on extracting value from the PGMs and base metals we mine that make a difference in people's lives.

We own and operate two mines and two concentrators:

Bafokeng Rasimone Platinum Mine (BRPM), a twin decline shaft system with an average mining depth of 450m, is a conventional and hybrid mining operation

Styldrift Mine (Styldrift), a twin vertical shaft system, is a mechanised bord and pillar mining operation with an average mining depth of 680m

BRPM concentrator, is a 250ktpm capacity traditional MF2 process concentrator

Maseve concentrator has been upgraded to a MF2 process concentrator.

Major shareholders

June

2022

lImpala Platinum Holdings Limited (37.83%)

lNortham Platinum Holdings Limited (34.52%)

lPIC (9.26%)

lRoyal Bafokeng Holdings (3.28%)

Northam

Amplats: Dishaba

Platinum:

Zondereinde

Amplats: Tumela

Siyanda Bakgatla

N

Platinum Mine:

Union

Northam

Sedibelo Platinum Mines: PPM

0

25

50

kilometres

Wesizwe

Western

Pilanesberg

Limb

Platinum:

Bakubung

Northam

Platinum:

27˚ 07' 0" E

Eland

RBPlat

25˚ 25' 0" S

Sibanye -

operations

Stillwater:

Implats:

Marikana

Rustenburg

Rustenburg

Sibanye -

Stillwater:

Sibanye -

Pandora

Polokwane

Stillwater:

Rustenburg

Eastern Platinum:

Mbombela

Rustenburg

Pretoria

Crocodile River

Johannesburg

North West

province

Upington

Bloemfontein

Durban

Republic of South Africa

Cape Town

Gqeberha

EXPLORATION

MINING

CONCENTRATING

CONCENTRATE sold to Amplats* who smelt, refine, and market our product

* Anglo American Platinum

ROYAL BAFOKENG PLATINUM

CONDENSED CONSOLIDATED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2022

STRATEGY

1

PILLARSSTRATEGIC

OPERATIONAL

2

3

GROWTH

4

Towards

operational excellence

Build

flexibility to ensure sustainability

Grow

organically

Pursue value

enhancing

opportunities

CORPORATE STRATEGY

Optimise volumes to achieve economic sustainability

Achieve cost efficiencies that contribute to the sustainability of the business

Achieve zero harm

Transform our workforce to achieve gender equality and inclusivity

Effective corporate governance designed to protect and grow value

Contributing to community sustainability

Environmental stewardship

Maintain our IMS panel ratio at BRPM

Maintain IMS section ratio at Styldrift

Processing flexibility and capacity

Disciplined capital allocation

Positioning RBPlat to compete over the long term

Royalty agreements

Mergers and acquisitions

Gold streaming

SHORT TERM

MEDIUM TERM

LONG TERM

(One year)

(3 - 5 years)

(More than five years)

Maseve MF2 concentrator upgrade and BRPM tailings storage facility

Brownfields project: mining of UG2 at Styldrift

expansion

Conversion of BRPM South shaft to UG2 as Merensky Reserves are

Potential greenfields project: Styldrift II

depleted

Styldrift, a shallow twin vertical shaft system with an average mining depth of 680m, is a mechanised bord and pillar mine with over 40 years life of mine as a mechanised mine using the XLP mining method

ROYAL BAFOKENG PLATINUM

01

CONDENSED CONSOLIDATED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2022

OPERATING AND FINANCIAL STATISTICS

for the six months ended

DescriptionUnit 30 June 2022 30 June 2021 Change (%)

SAFETY

Fatalities

number

-

1

100.0

LTIFR (/1 000 000 hrs)

rate

1.164

1.724

32.5

SIFR (/1 000 000 hrs)

rate

0.416

0.603

31.0

TIFR (/1 000 000 hrs)

rate

8.148

7.499

(8.7)

PRODUCTION

Total development

km

20.6

19.2

7.3

Working cost development

km

17.7

17.1

3.5

Capital development

km

2.9

2.0

45.0

BRPM development

km

17.9

16.5

8.5

Styldrift development

km

2.7

2.7

0.0

IMS Panel ratio - BRPM

ratio

1.96

1.78

10.1

IMS Section ratio - Styldrift

ratio

1.40

1.30

7.7

Total reef tonnes hoisted

kt

2 333

2 158

8.1

BRPM

kt

1 276

1 138

12.1

Styldrift

kt

1 057

1 020

3.6

Merensky

kt

1 659

1 658

0.1

UG2

kt

674

500

34.8

Total reef tonnes delivered

kt

2 294

2 122

8.1

BRPM

kt

1 260

1 148

9.8

Styldrift

kt

1 034

974

6.2

Merensky

kt

1 625

1 589

2.3

UG2

kt

669

533

25.5

Total tonnes milled

kt

2 304

2 160

6.7

BRPM

kt

1 265

1 172

7.9

Styldrift

kt

1 039

988

5.2

Merensky

kt

1 627

1 623

0.2

UG2

kt

677

537

26.1

UG2 percentage milled

%

29

25

16.0

Closing stocks (surveyed)

kt

225

153

47.1

BRPM

kt

92

52

76.9

Styldrift

kt

133

101

31.7

Built-up head grade (4E)

g/t

3.75

3.81

(1.6)

BRPM

g/t

3.84

3.80

1.1

Styldrift

g/t

3.65

3.82

(4.5)

Merensky

g/t

3.76

3.84

(2.1)

UG2

g/t

3.73

3.72

0.3

METALS IN CONCENTRATE

Total

6E

koz

253.8

241.9

4.9

4E

koz

225.5

215.7

4.5

Platinum

koz

144.7

138.8

4.3

Palladium

koz

60.8

57.8

5.2

Rhodium

koz

14.1

13.0

8.5

Gold

koz

5.8

6.1

(4.9)

Iridium

koz

4.8

4.4

9.1

Ruthenium

koz

23.6

21.8

8.3

Nickel

t

1 284.8

1 317.3

(2.5)

Copper

t

789.4

810.9

(2.7)

Cobalt

t

36.3

36.2

0.3

BRPM

6E

koz

143.3

131.1

9.3

4E

koz

126.5

116.1

9.0

Platinum

koz

80.3

73.7

9.0

Palladium

koz

34.0

31.3

8.6

Rhodium

koz

9.7

8.5

14.1

Gold

koz

2.4

2.5

(4.0)

Iridium

koz

2.8

2.5

12.0

Ruthenium

koz

14.1

12.5

12.8

Nickel

t

459.9

511.0

(10.0)

Copper

t

294.0

317.9

(7.5)

Cobalt

t

13.2

14.4

(8.3)

02

ROYAL BAFOKENG PLATINUM

CONDENSED CONSOLIDATED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2022

DescriptionUnit 30 June 2022 30 June 2021 Change (%)

Styldrift

6E

koz

110.5

110.8

(0.3)

4E

koz

99.0

99.6

(0.6)

Platinum

koz

64.4

65.1

(1.1)

Palladium

koz

26.8

26.5

1.1

Rhodium

koz

4.4

4.5

(2.2)

Gold

koz

3.4

3.6

(5.6)

Iridium

koz

2.0

1.9

5.3

Ruthenium

koz

9.5

9.3

2.2

Nickel

t

824.9

806.3

2.3

Copper

t

495.4

493.0

0.5

Cobalt

t

23.1

21.8

6.0

LABOUR

Total labour1

number

11 130

10 518

(5.8)

Working cost labour

number

9 864

9 547

(3.3)

Capital labour

number

1 266

971

(30.4)

Stoping crew efficiency - BRPM

m²/crew

355

330

7.6

Stoping crew efficiency - Styldrift

m²/crew

1 441

1 351

6.7

Tonnes milled/TEC2

t/TEC

38.9

37.7

3.2

OPERATING COST

Cash operating cost

R (million)

4 325

3 592

(20.4)

BRPM

R (million)

2 144

1 795

(19.4)

Styldrift

R (million)

2 182

1 797

(21.4)

Cash operating cost/tonne milled

R/t

1 877

1 663

(12.9)

BRPM

R/t

1 695

1 531

(10.7)

Styldrift

R/t

2 099

1 820

(15.3)

Cash operating cost/6E ounce

R/oz

17 037

14 849

(14.7)

BRPM

R/oz

14 952

13 686

(9.3)

Styldrift

R/oz

19 741

16 226

(21.7)

Cash operating cost/4E ounce

R/oz

19 183

16 649

(15.2)

BRPM

R/oz

16 949

15 452

(9.7)

Styldrift

R/oz

22 037

18 045

(22.1)

CAPITAL EXPENDITURE

Total capital expenditure

R (million)

820

830

1.2

Expansion capital

R (million)

207

349

40.7

Replacement capital

R (million)

310

308

(0.6)

Stay-in-business capital (SIB)

R (million)

303

173

(75.1)

SIB percentage of operating cost

%

7.0

4.8

(45.8)

FINANCIAL INDICATORS

Gross profit

R (million)

2 772.2

5 161.5

(46.3)

BRPM segment

R (million)

2 359.4

3 441.8

(31.4)

Styldrift segment

R (million)

744.7

1 774.7

(58.0)

Gross profit margin

%

33.9

53.9

(37.1)

EBITDA

R (million)

3 406.1

5 499.1

(38.1)

EBITDA margin

%

41.7

57.4

(27.4)

Average basket price

R/4E oz

35 599.6

42 600.4

(16.4)

Average R:US$ in revenue

R/US$

15.68

14.01

11.9

Basic HEPS

cps

767.3

1 831.9

(58.1)

Net cash (including transaction costs capitalised)

R (million)

4 883.8

3 625.2

34.7

ENVIRONMENTAL, SOCIAL AND GOVERNANCE

Employees3

number

11 158

10 546

5.8

Discretionary procurement spend with HD4 businesses

R (million)

2 519

2 034

23.8

Percentage of total discretionary procurement spent with HD

83.6

businesses

%

83.8

(0.2)

Board independence

%

67

60.0

11.7

SLP expenditure

R (million)

54.0

47.6

13.4

GHG emission CO2e (scope 1 and 2)

tCO2e

273 014

238 307

14.6

Water intensity

kl/t milled

0.837

0.620

35.0

Please note any difference in totals in this table is due to rounding

  1. Excludes corporate office employees
  2. Tonnes milled per total employee costed
  3. Includes corporate office employees
  4. Historically disadvantaged

ROYAL BAFOKENG PLATINUM

03

CONDENSED CONSOLIDATED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2022

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Royal Bafokeng Platinum Limited published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 05:29:05 UTC.