Anglo American Platinum issued a SENS announcement on 6 March 2020 regarding the temporary closure of the Anglo Converter Plant (ACP) and the declaration of force majeure to secure a safe operating environment.

Anglo American Platinum has since started the repair process and has been in discussions with third parties from which it purchases concentrate and for which it toll-treats 4E material and agreed in principle revised terms for the duration of the force majeure period. Anglo American Platinum does not foresee any customer agreements being terminated as a result of this disruption.

The force majeure period is defined as starting on 6 March 2020 and remains ongoing for the time it takes to repair ACP Phase B which is expected to be approximately 80 days, ending around 25 May 2020.

ACP repair process and capital expenditure update

The total repair time, including the time to procure all necessary spares and equipment, is estimated at 80 days. The repair team is on site executing the work, and a full investigation is under way to understand the cause and nature of the water ingress into the furnace. The majority of the replacement equipment (i.e. waffle coolers) can either be obtained from the undamaged waffle coolers in the Phase A unit or spares available in inventory. All procurement of additional equipment is from within South Africa, so no supply chain disruptions are anticipated.

A project team is also in place to execute the repairs to Phase A, and orders for the long lead items have been placed. It is still estimated that repairs will be complete by Q2 2021.

The estimated capital expenditure for replacement equipment and repair of ACP Phase B is R150 to R200 million, which will be incurred in 2020, while the estimated capital expenditure to rebuild Phase A will be R500 to R600 million, of which R100 million is expected to be incurred in 2021. These are incremental capital expenditure amounts to full year guidance previously provided but exclude any potential insurance proceeds.

As a result of the activities under way at the ACP, the Company is reviewing its capital plans for 2020 and will provide a further update of the full year capex guidance in due course.

Forward-looking statements

Certain statements made in this announcement constitute forward-looking statements. Forward-looking statements are typically identified by the use of forward-looking terminology such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'intends', 'estimates', 'plans', 'assumes' or 'anticipates' or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of, for example, future production, present or future events, or strategy that involves risks and uncertainties. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Company's current beliefs and expectations about future events. Such statements are based on current expectations and, by their nature, are subject to a number of risks and uncertainties that could cause actual production and performance to differ materially from any expected future production or performance, expressed or implied, by the forward-looking statement. The forward-looking statements contained in this report speak only as of the date of this report and the Company undertakes no duty to update any of them and will not necessarily do so, in light of new information or future events, except to the extent required by applicable law or regulation.

Contact:

Emma Chapman

Tel: +27 (0) 11 373 6239

Email: emma.chapman@angloamerican.com

Notes to editors

The ACP plant is a key part of Anglo American Platinum's PGM production process, treating furnace matte from the company's smelters. At the ACP plant, sulphur and iron contained in the furnace matte from the smelters are converted to sulphur dioxide and slag. The resulting converter matte is then slow-cooled to concentrate PGMs into a metallic fraction. From the ACP, material moves to the Magnetic Concentration Plant (MCP), where the converter matte is milled and the PGM fraction is separated magnetically. The PGM-bearing material then moves from the MCP to the Precious Metals Refinery (PMR), where the PGMs are separated and purified to yield platinum, palladium, iridium, rhodium, ruthenium and gold.

Anglo American Platinum Limited is a member of the Anglo American plc Group and is a leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa, as well as its two joint venture operations. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum is committed to the highest standards of safety and continues to make a meaningful and sustainable difference in the development of the communities around its operations.

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing consumer-driven demands of the world's developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world - safely, responsibly and sustainably.

As a responsible miner of diamonds (through De Beers), copper, platinum group metals, iron ore, coal and nickel we are the custodians of what are precious natural resources. We work together with our business partners and diverse stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people's lives.

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