Announcements 2021

Response to the announcement published by Royal Bafokeng Platinum Limited (“RBPLAT”)

09 Dec 2021

Shareholders are referred to the announcement published by RBPlat on SENS today, 9 December 2021 (“RBPlat Announcement”), regarding, inter alia:

• the approach by Northam expressing its interest to acquire the voting securities of RBPlat; and
• a submission made by the independent board of RBPlat, as constituted in terms of regulation 108 of the Companies Regulations, 2011 (“Independent Board”), to the Takeover Regulation Panel (“TRP”) regarding the possible trigger of a mandatory offer in terms of section 123 of the Companies Act, No. 71 of 2008 by Northam (“Mandatory Offer”), (“TRP Submission”).

Northam confirms that on Wednesday, 8 December 2021 it submitted a letter to the RBPlat board of directors and Independent Board expressing its interest to continue the parties’ engagements in relation to a potential offer by Northam for all or a portion of the remaining shares in RBPlat (excluding treasury shares). This follows the RBPlat response to the non-binding offer letter submitted by Northam dated 11 October 2021, wherein it confirmed that RBPlat remained committed to progress discussions with Northam.

Shareholders are advised that Northam was informed of the TRP Submission, today, 9 December 2021. Northam believes that the RBPlat Announcement in respect of the TRP Submission is misleading and is firmly of the view that a Mandatory Offer has not been triggered and will be making submissions to the TRP in this regard.

Johannesburg
9 December 2021