Impala Platinum Holdings Ltd/Royal Bafokeng Platinum Ltd: Joint cautionary announcement

IMPALA PLATINUM HOLDINGS LIMITED                      ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)        (Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)                  (Registration number 2008/015696/06)
JSE Share code: IMP ISIN: ZAE000083648                JSE share code: RBP ISIN: ZAE000149936
ADR code: IMPUY                                       (“RBPlat”, the “Company” or the “RBPlat Group”)
(“Implats”)

JOINT CAUTIONARY ANNOUNCEMENT

Shareholders of both RBPlat and Implats (“the Parties”) are advised that the Parties are in discussions
relating to a non-binding indicative proposal (“Proposal”) from Implats to acquire 100% of the issued
ordinary shares of RBPlat, other than treasury shares held by the RBPlat Group by way of a scheme of
arrangement in terms of section 114 of the Companies Act, 71 of 2008 (“Proposed Transaction”). Should
Implats acquire all the issued ordinary shares in RBPlat, application will be made to the JSE for the issued
ordinary shares of RBPlat to be delisted.

The Parties have completed a reciprocal due diligence exercise and are progressing a Proposed
Transaction implementation agreement. Shareholders will be kept informed of developments in this
regard.

The Proposal, which contains terms and conditions customary for a transaction of this nature, does not
constitute an offer or a firm intention to make an offer as contemplated by regulation 101 of the Companies
Regulations, 2011.

Accordingly, shareholders are advised to exercise caution when dealing in their RBPlat and/or Implats
shares until a further announcement is made.

Directors responsibility statements
The board of directors of Implats and RBPlat, individually and collectively, accepted full responsibility for
the accuracy of the information contained in this announcement and certify that, to the best of their
knowledge and belief, such information is true and that this announcement does not omit any facts that
would make any of the information false or misleading. The board of directors of Implats and RBPlat have
made all reasonable enquires to ascertain that no facts have been omitted and that this announcement
contains all information required by law.



Johannesburg
27 October 2021


Corporate Advisor and Transaction Sponsor to RBPlat
Questco Proprietary Limited

Legal Advisor to RBPlat
Bowmans

JSE Sponsor to RBPlat
Merrill Lynch South Africa Proprietary Limited t/a BofA Securities

Queries:
Lindiwe Montshiwagae
Email: lindiwe@bafokengplatinum.co.za
Tel: +27 (0)10 590 4510
M: + 27 (0) 82 920 7803
Thandeka Mthembu
Email: thandekam@bafokengplatinum.co.za
Tel: +27 (0) 10 590 4510
M: +27 (0) 72 674 9601


Financial Advisor to Implats
Macquarie Advisory and Capital Markets South Africa (Pty) Ltd

Legal Advisor to Implats
Alchemy Law Africa

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

Queries:
Johan Theron
E-mail: johan.theron@implats.co.za
T: +27 (0) 11 731 9013/43
M: +27 (0) 82 809 0166

Emma Townshend
E-mail: emma.townshend@implats.co.za
T: +27 (0) 21 794 8345
M: +27 (0) 82 415 3770

Alice Lourens
E-mail: alice.lourens@implats.co.za
T: +27 (0) 11 731 9033/43
M: +27 (0) 82 498 3608

Date: 27-10-2021 08:30:00
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