Further Trading Statement for the year ended 30 June 2023

IMPALA PLATINUM HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE share code: IMP
ISIN: ZAE000083648
ADR code: IMPUY
(“Implats” or the “Group”)


FURTHER TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2023


Implats will release its audited results for the year ended 30 June 2023 (the “period”) on or about
31 August 2023.

A trading statement was released on SENS on 7 August 2023 advising shareholders that the Group
expected both basic earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the
period to be at least 20% lower than those reported for the year ended 30 June 2022 (the
“comparative period”).

Implats now has reasonable certainty on its earnings and therefore advises the following:

Earnings for the period decreased primarily due to lower revenue arising from an 18% lower
achieved dollar metal price, partially offset by a 16% weaker rand. The impact of the increased
frequency and severity of load curtailment and cable theft resulted in a cumulative loss of c.147 000
6E ounces of refined production for the period, which negatively impacted sales volumes. Cash
costs continued to be negatively impacted by higher inflation and the impact of the weaker rand on
the translated costs of Zimplats and Impala Canada. In addition, the lower US dollar rhodium price
at the end of the period resulted in a c.R2.1 billion (post-tax) write-down of closing inventory, which
negatively impacted earnings.

As a result, Implats’ headline earnings for the period are expected to decrease by between 38%
and 44% to be between R18 billion and R20 billion and HEPS for the period is expected to decrease
by between 39% and 45% to be between 2 117 cents and 2 352 cents per share. Headline earnings
and HEPS for the comparative period were R32 billion and 3 853 cents, respectively.

Basic earnings for the period are expected to decrease by between 81% and 88% to be between
R4 billion and R6 billion and EPS is expected to decrease by between 82% and 88% to be between
470 cents and 706 cents per share. Basic earnings and EPS in the comparative period were
R32 billion and 3 856 cents, respectively. Basic earnings were further impacted by the following
charges:

•   impairment of property, plant and equipment at Impala Canada of R7.8 billion or 919 cents per
    share (post-tax) due to the combined impact of a material decrease in the US dollar palladium
    price profile and higher prevailing inflation;
•   loss on the remeasurement of the previously held equity investment in Royal Bafokeng
    Platinum Limited (“RBPlat”) of R1.8 billion or 208 cents per share (no tax) at the date that
    RBPlat became a subsidiary of the Group; and
•   impairment of goodwill of R4.2 billion or 499 cents per share (no tax) arising on the acquisition
    of RBPlat.

The weighted average number of shares in issue for the period increased to 850.28 million from
831.25 million in the comparative period. The number of shares in issue has increased to 866.40
million at 30 June 2023 from 850.22 million at 30 June 2022, due to the issue of 16.18 million
Implats ordinary shares as part of the consideration for the 18.58% shareholding acquired in RBPlat
during the period.

The financial information for the year ended 30 June 2023, on which this trading statement is based,
has not been reviewed and reported on by the external auditors of Implats.


Ends

Queries:

Johan Theron
E-mail: johan.theron@implats.co.za
T: +27 (0) 11 731 9013
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
M: +27 (0) 82 498 3608


15 August 2023
Johannesburg

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




                                                                                      

Date: 15-08-2023 10:30:00
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