Announcements 2026

Update regarding the process and further cautionary announcement

16 Sep 2026

Northam shareholders (“Shareholders”) are referred to the announcement published on SENS on 25 August 2026 (“Announcement”), wherein the Company advised that it had initiated a strategic, competitive process to solicit proposals from interested parties regarding one or more potential transactions (“Process”).

Unless herein defined, capitalised words in this announcement will bear the meanings ascribed thereto in the Announcement.

By way of an update, the Company confirms that letters of invitation have been sent to all the parties who have been identified by the Board and Northam’s executive management as credible potential participants in the Process. Interested parties that have not received a letter of invitation and wish to participate in the Process are referred to the document setting out the requirements for the submission of an expression of interest, available at:

https://www.northam.co.za/component/jdownloads/?task=download.send&id=1639:notice-20260825.

The Company further wishes to confirm that it has not received an “offer” as envisaged in section 117(1)(f) of the Companies Act, No. 71 of 2008, as amended (“Companies Act”), nor is it currently engaged in negotiations with any party (including the PGM Producer) regarding an “affected transaction” as envisaged in section 117(1)(c) of the Companies Act. Should the Company receive an offer, or enter into negotiations regarding an affected transaction, the Company will comply with its obligations in terms of the relevant provisions of Chapter 5 of the Companies Act and the Companies Regulations, 2011, including making the requisite announcements subject to the approval of the Takeover Regulation Panel.

Further Cautionary Announcement

Shareholders are referred to the cautionary announcement contained in the Announcement (“Cautionary Announcement”) and are advised to continue to exercise caution when dealing in Northam securities until a further announcement is made, or the Cautionary Announcement is withdrawn.

Johannesburg
16 September 2026