Royal Bafokeng Platinum : Extension of notice date for disposal of concentrate agreement

ROYAL BAFOKENG PLATINUM LIMITED

Incorporated in the Republic of South Africa

Registration number 2008/015696/06

JSE share code: RBP ISIN: ZAE000149936 ("RBPlat" or the "Company")

EXTENSION OF NOTICE DATE FOR DISPOSAL OF CONCENTRATE AGREEMENT

As shareholders are aware, the Company, through its wholly-owned subsidiary, Royal Bafokeng Resources Proprietary Limited ("RBR"), is party to a Disposal of Concentrate Agreement with Rustenburg Platinum Mines Limited (a wholly-owned subsidiary of Anglo American Platinum Limited) ("RPM") entered into on 4 July 2018 (the "DOCA") (which replaced the previous longstanding disposal of concentrate agreement), in terms of which RPM has agreed to purchase all of the PGM concentrate produced by RBR (the "Concentrate"). The termination date of the DOCA in respect of either 17% or 50% of the Concentrate is 11 August 2024, provided that RPM gives notice of such termination on or before 10 August 2022, failing which the DOCA shall endure for continuous rolling periods of 5 years unless terminated in accordance with the terms stipulated in the DOCA. Shareholders are referred to the Company's circular dated 27 August 2018 for further detail on the termination rights under the DOCA.

Given that the Company is currently the subject of a mandatory offer by Impala Platinum Holdings Limited ("the Offer"), the Company and RPM agree that it is advisable that RPM delays its decision regarding the DOCA. RBR has accordingly agreed that RPM may deliver a termination notice in terms of the DOCA at any time on or before 10 February 2023, on the basis that if a termination notice is given on or before that date, the termination date of the DOCA in respect of 17% or 50%, as the case may be, of the concentrate will remain 11 August 2024 (or such later date as the Parties may agree in writing).

The board of directors of the Company (the "Board"), individually and collectively, accepts responsibility for the accuracy of the information contained in this announcement which relates to RBPlat. To the best of the Board's knowledge and belief, the information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of such information.

Johannesburg

10 August 2022

JSE Sponsor

Merrill Lynch South Africa Proprietary Limited t/a BofA Securities

For further information, please contact: Lindiwe Montshiwagae

Executive: Investor Relations and Corporate Communications

Tel: [phone]

Email: [e-mail]

Thandeka Mthembu

Manager: Investor Relations

Tel: [phone]

Email : [e-mail]