ANNOUNCEMENTS 2019

Listing of new financial instrument – NHM014

The JSE Limited has granted approval for the listing of NHM014 Senior Unsecured Floating Rate Notes (“Notes”), under the Northam Platinum Limited ZAR5 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as amended and / or supplemented from time to time (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 20 November 2019.

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Results of annual general meeting

Northam shareholders are advised that at the annual general meeting of shareholders held on Thursday, 7 November 2019 (“AGM”), the ordinary and special resolutions, as set out in the notice of AGM dated Tuesday, 20 August 2019, were approved by the requisite majority of shareholders present or represented by proxy at the AGM. Further details regarding the voting results for each of the resolutions are contained below.

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Interest payment notification – NHM002

Northam bondholders are advised of the following interest payment due on Tuesday, 12 November 2019.

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Acquisition of R997.5 million of Zambezi preference shares

Northam shareholders are referred to the announcement dated 2 September 2019 pertaining to the acquisition by Northam of preference shares in Zambezi Platinum (RF) Limited.

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SENS: Northam acquires the Maroelabult assets for R20 million

Northam is pleased to announce that its wholly owned subsidiary, Eland Platinum Proprietary Limited (“Eland”), has entered into an agreement with Barplats Mines Proprietary Limited, a subsidiary of Eastern Platinum Limited, to purchase the Maroelabult assets (“Maroelabult assets”) including the mining and surface rights, infrastructure, equipment and associated fixed and movable property, for a cash consideration of R20 million (“purchase consideration”), (“transaction”). Upon implementation of the transaction, Eland will assume the environmental rehabilitation liabilities associated with the Maroelabult assets in accordance with the transaction terms.

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Media release: Northam acquires the Maroelabult assets for R20 million

Northam Platinum Limited (Northam) is pleased to announce that its wholly-owned subsidiary, Eland Platinum Proprietary Limited (Eland), has entered into an agreement with Barplats Mines Proprietary Limited (Barplats) to purchase its Maroelabult assets for a cash consideration of R20 million.  Barplats is a subsidiary of Eastern Platinum Limited.

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Northam’s long term credit rating re-affirmed, short term credit rating revised and outlook upgraded

Northam is pleased to advise shareholders that the credit rating agency, Global Credit Rating Co. (“GCR”), has re-affirmed Northam’s national scale long term credit rating of A-(ZA) and revised its short term credit rating to A2(ZA) (in accordance with the changes in GCR’s Rating Scales, Symbols and Definitions, May 2019), with the outlook upgraded to positive.

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Release of annual financial statements of the guarantor

Northam wishes to advise noteholders that the annual financial statements of Booysendal Platinum Proprietary Limited for the year ended 30 June 2019 (“annual financial statements”) and the auditor’s unqualified audit report thereon, are available for inspection at the registered office of the company.

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Interest payments notification – NHM008 and NHM009

Northam bondholders are advised of the following interest payments due on
Monday, 28 October 2019.

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Interest payments notification – NHM006 and NHM007

Northam bondholders are advised of the following interest payments due on Wednesday, 16 October 2019.

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Dealings in securities

Disposal of Zambezi Platinum (RF) Limited (“Zambezi Platinum”) preference shares (“preference shares”)

In terms of the Northam broad-based black economic empowerment transaction implemented on 18 May 2015, Zambezi Platinum holds ordinary shares in Northam.  Pursuant to the preference share terms, Zambezi Platinum is entitled to elect to settle the preference share redemption amount in cash, Northam ordinary shares or a combination thereof.

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Dealings in Securities

In terms of the Northam broad-based black economic empowerment transaction implemented on 18 May 2015, Zambezi Platinum holds ordinary shares in Northam.  Pursuant to the preference share terms, Zambezi Platinum is entitled to elect to settle the preference share redemption amount in cash, Northam ordinary shares or a combination thereof.

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Update regarding the acquisition of R293 million of Zambezi preference shares

Northam shareholders (“shareholders”) are referred to the announcement dated 2 September 2019 (“previous announcement”), pertaining to the acquisition by Northam of preference shares in Zambezi Platinum (RF) Limited (“Zambezi preference shares”), from Coronation Asset Management Proprietary Limited, acting as an investment manager on behalf of its clients, for a total cash consideration of approximately R292.6 million (“acquisition”).

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Interest payment notification – NHM012

Northam bondholders are advised of the following interest payment due on Friday, 13 September 2019:

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Media release: Northam places R500 million of domestic medium term notes

Northam is pleased to announce that it has completed a private placement of domestic medium term notes (“Notes”) to the value of R500 million (“New Notes”) under Northam’s R5 billion Domestic Medium Term Note Programme (“Programme”).

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SENS: Northam places R500 million of domestic medium term notes

Northam is pleased to advise that it has completed a private placement of domestic medium-term notes to the value of R500 million under Northam’s R5 billion Domestic Medium Term Note Programme.

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Listing of new financial instrument – NHM013

The JSE Limited has granted approval for the listing of NHM013 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR5 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as amended and/or supplemented from time to time, as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 9 September 2019.

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Acquisition of R293 million of Zambezi preference shares

Northam shareholders (“shareholders”) are referred to the announcement dated 30 August 2019 (“previous announcement”) pertaining to the acquisition by Northam of preference shares in Zambezi Platinum (RF) Limited (“Zambezi”), (“Zambezi preference shares”).

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Northam adds to its Zambezi pref shares

Northam is pleased to announce the acquisition of 13 700 000 Zambezi preference shares, bringing its holding of preference shares to 19 408 458, representing 12.1% of all Zambezi preference shares in issue.  Northam has acquired these Zambezi preference shares from the PIC for a cash amount of R1.007 billion. The acquisition will be funded by Northam’s cash reserves.

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Acquisition of R1 billion of Zambezi preference shares

Northam shareholders are referred to the announcement dated 6 August 2019 pertaining to the acquisition by Northam of preference shares in Zambezi Platinum (RF) Limited.

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Northam posts solid results for the year

Northam Platinum has issued its annual results for the year ended 30 June 2019.

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Abridged audited group annual results for the year ended 30 June 2019 and notice of annual general meeting

Northam achieved a record operating profit of R2.4 billion for the financial year ended 30 June 2019 (F2018: R823.3 million), representing a 192.7% increase from the previous corresponding period, underpinned by a solid operating performance at both operations, well contained unit cash costs and a higher basket price received. This translates to an operating profit margin of 22.6% (F2018: 10.9%).

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Northam refinances its five year R3.5 billion revolving credit facility and increases its R2 billion domestic medium term note programme limit to R5 billion

Northam is pleased to announce that it has concluded definitive agreements in terms of which its existing five year R3.5 billion revolving credit facility (“RCF”) will be refinanced on more favourable terms and the maturity date will be extended from November 2021 to August 2024

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Interest payments notification – NHM010 and NHM011

Northam bondholders are advised of the following interest payments due on Monday, 26 August 2019.

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Trading statement

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the current reporting period will differ by at least 20% from the financial results of the previous corresponding period.

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Acquisition of additional Zambezi preference shares

Northam shareholders (“shareholders”) are referred to the announcement dated 1 November 2016 (“previous announcement”) pertaining to the acquisition by Northam of 4 043 018 preference shares in Zambezi Platinum (RF) Limited (“Zambezi”), (“Zambezi preference shares”) for a purchase consideration equal to the issue price plus accumulated preference share dividends (“face value”).

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Interest payments notification – NHM008 and NHM009

Northam bondholders are advised of the following interest payments due on Friday, 26 July 2019.

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Interest payments notification – NHM006 and NHM007

Northam bondholders are advised of the following interest payments due on Tuesday, 16 July 2019.

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Northam approves Kukama project at Eland mine

Northam is pleased to advise its shareholders that mining operations at the Kukama shaft situated at its Eland mine complex will recommence in the new financial year (F2020).

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Northam breathes new life into Eland

Northam is pleased to advise its shareholders that mining operations at the Kukama shaft situated at its Eland mine complex will recommence in the new financial year (F2020).

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Listing of new financial instrument – NHM012

The JSE Limited (“JSE”) has granted approval for the listing of NHM012 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 13 June 2019.

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Interest payment notification and full capital redemption – NHM003

Northam bondholders (bondholders) are advised of the following interest payment due on Monday, 10 June 2019.

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Northam secures R1 billion of additional funding facilities

Northam is pleased to announce that it has increased its existing revolving credit facilities (“RCF”) by R500 million, from R3 billion to R3.5 billion. In addition a new R500 million general banking facility (“GBF”) has been secured.

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Listing of new financial instruments – NHM010 and NHM011

The JSE Limited has granted approval for the listing of NHM010 and NHM011 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (“Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 24 May 2019.

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Interest payment notification and full capital redemption – NHM005

Northam bondholders (“Bondholders”) are advised of the following interest payment due on Monday, 20 May 2019.

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Northam advises changes to the audit and risk committee

Northam shareholders are advised that Dr NY (Yoza) Jekwa and Mr JJ (Jean) Nel have been appointed to the company’s audit and risk committee with effect from 1 June 2019. Both currently serve on the board as independent, non-executive directors.

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Interest payment notification – NHM002

Northam bondholders are advised of the following interest payment due on Monday, 13 May 2019.

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Listing of new financial instruments – NHM008 and NHM009

The JSE Limited has granted approval for the listing of NHM008 and NHM009 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012, as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 26 April 2019.

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Northam secures additional funding with new R1.65 billion domestic medium term note placement

Northam is pleased to announce that it has completed a private placement of domestic medium term notes (“Notes”) to the value of R1.65 billion (“New Notes”) under Northam’s R2 billion Domestic Medium Term Note Programme (the “Programme”). The New Notes will mature over a one year (R250 million), two year (R250 million) and three year (R1.15 billion) term from the date of issue.

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Listing of new financial instruments – NHM006 and NHM007

The JSE Limited has granted approval for the listing of NHM006 and NHM007 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (“the Programme”), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 16 April 2019.

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Interest payment notification and full capital redemption – NHM004

Northam bondholders are advised of the following interest payment due on Tuesday, 23 April 2019:

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Interest payment notification

Northam bondholders are advised of the following interest payment due on Monday, 11 March 2019

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Dealings in securities

Purchase of Zambezi Platinum (RF) Limited preference shares.

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Northam posts record operating profit for the half-year

Northam Platinum has posted results for the first half-year of the 2019 financial year. The strategy which was launched in 2015 with the Zambezi Platinum (RF) Limited Black Economic Empowerment transaction, has for the first time unfolded in the numbers. Normalised headline earnings, the primary measure of performance, amounted to R553 million, or 108.5 cents per share, up by 192.6%.

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Operational update

Northam is pleased to announce that it expects to report a record operating profit for an interim period amounting to R1.0 billion for the six month ended 31 December 2018, representing an increase of 204.3% from the comparative prior period (H1 F2018: R338.8 million).

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Trading statement

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the current reporting period will differ by at least 20% from the financial results of the previous corresponding period.

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