IMP IMCB22 201907080003A
Trading statement for the year ended 30 June 2019

(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE share code: IMP
ISIN: ZAE000083648
JSE Convertible Bond Stock Code: IMCB22
JSE Convertible Bond ISIN: ZAE000247458
("IMPL CB22")
("Implats" or "the Group")


Implats will release its results for the year ended 30 June 2019 ("the period") on or about 5 September 2019.

With reference to the Listings Requirements of the JSE Limited, issuers must publish a trading statement on
SENS as soon as they become reasonably certain that the financial results for the period to be reported on
will differ by at least 20% from those of the previous corresponding reporting period.

Operational performance

The Group's refined platinum production for the period is expected to increase by 4% to 1 526 koz compared
to 1 468 koz for the year ended 30 June 2018 ("the comparative period"). The increase in refined platinum
production is primarily due to improved performance from Impala Rustenburg and a stock release of
platinum compared to a build-up in the comparative period.

Platinum sales volumes for the period are expected to increase by 12% to 1 515 koz from 1 355 koz in the
comparative period. Sales volumes for the period are higher due to the increase in refined production. Sales
volumes in the comparative period were lower than refined metal, primarily due to toll metal of 140 koz
returned to a third party customer.

Expected headline and basic earnings per share

Due to an improved Rand PGM basket price and improved operational performances, Implats is expecting to
report both positive basic and headline earnings per share for the period, compared to the comparative
period which reported a basic and headline loss per share of 1 486 cents and 171 cents, respectively. This
improved operational performance is consistent with positive earnings reported by the Group for the half-
year ended 31 December 2018. This represents a significant improvement in the Group performance for the
period. Basic earnings in the comparative period were impacted by impairments of R9.7 billion (or 1 350
cents per share) (after-tax).

Implats will publish a further trading statement closer to the release of its annual financial results on or about
5 September 2019, once it has a reasonable degree of certainty on the expected basic and headline earnings
per share ranges for the period.

The financial information on which this trading statement is based has not been reviewed and reported on
by the external auditors of Implats.


Johan Theron
T: +27 (0) 11 731 9013/43
M: +27 (0) 82 809 0166

Emma Townshend
E-mail :
T : +27 (0) 21 794 8345
M : +27 (0) 82 415 3770

Alice Lourens
T: +27 (0) 11 731 9033/43
M: +27 (0) 82 498 3608

8 July 2019

Equity and Debt Sponsor to Implats
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

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