Impala Platinum : 2023 GRI Report

2023 GRI Report

Supplement to the Annual Integrated Report 30 June 2023

Impala Platinum Holdings Limited

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2 Fricker Road, Illovo, 2196, Private Bag X18, Northlands, 2116

www.implats.co.za

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Our 2023 suite

OUR ANNUAL REPORTING SUITE - SUPPLEMENTS TO THE ANNUAL INTEGRATED REPORT (AIR)

Implats is committed to establishing and maintaining trust through high quality and transparent reporting that is useful to a wide variety of stakeholders:

Audited Annual Financial Statements

• Financial statement assurance, including the audit and risk committee report and directors' report
• Consolidated financial statements
• Company financial statements

Mineral Resource and Mineral Reserve

Statement

• Provides updated estimates and reconciliation of Mineral Resources and Mineral Reserves
• Conforms to the South African Code for Reporting
  of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code) (2016)
• Conforms to Section 12.13 of the JSE Listings Requirements
• Competent Persons sign-off
• Third-partyassurance

ESG Report

• Detail on material economic, social and environmental performance and governance
• GRI G4 core compliance
• Internal reporting guidelines in line with the UN Global Compacts
• Independent assurance report

Climate Change Report

• Climate change risks and adaptations, decarbonisation plans, and adoption of renewable energy
• Prepared in accordance with the recommendations of the TCFD and the Johannesburg Stock Exchange (JSE) Climate Change Disclosure Guidance

Remuneration Report

• Background statement
• Remuneration philosophy and policy
• Implementation report

Notice to Shareholders

• Notice of annual general meeting
• Notice and proxy

Tax Transparency and Economic

Contribution Report

Prepared in accordance with GRI 207 and provides information on Implats'

•  Approach to tax

•  Tax governance and risk management •  Tax numbers and performance

•  Country-by-country tax and economic contribution

Welcome to our 2023

GRI report

Statement	Implats has reported the information cited in this GRI content index for the year ended 30 June 2023 with reference
of use	to the GRI Standards.
GRI STANDARD	DISCLOSURE	COMPANY RESPONSE		AIR	ESG
GRI 2:	2-1 Organisational	Impala Platinum Holdings (Implats)	Pages 16 to 17	Pages 8 to 9
General	details
disclosures	2-2 Entities	Implats is a leading, fully integrated platinum	An overview is	Read our Group overview
2021	included in the	group metals (PGMs) producer. The Group is	provided in the	in our ESG report,
	organisation's	structured around seven mining operations and	organisational	pages 8 to 9.
	sustainability	Impala Refining Services (IRS),	a refining	overview chapter	This includes an
	reporting	business.		pages 16 to 17 of
		organisational overview,
				the AIR
				with information relating to
					our operations
	2-3 Reporting	1 July 2022 to 30 June 2023.		Pages 2 to 3	Pages 2 to 3
	period, frequency	We welcome your feedback to ensure we cover
	and contact point
	all aspects.
		Go to www.implats.co.za or email investor@
		implats.co.za to provide us with your feedback.
	2-4 Restatements	All restatements are indicated and explained in		See page 3 of Climate
	of information	our summary performance data and		Change Reportfor
		performance data tables (where applicable).		restatement of Scope 3
					emissions
	2-5 External	The audit committee approves the scope of	See pages 6 to 7	The scope of the 2023
	assurance	non-financial data auditing; the appointment of		external assurance,
		the service provider for assurance; and receives		selected performance
		a detailed account of the audit findings and		information and the
		actions from management.			independent statement
		Reasonable and limited assurance was		of assurance are provided
			on pages 126 to 129 of
		provided by Nexia SAB&T on selected non-
			the ESG report
		financial sustainability information and key
		performance indicators (KPIs). Nexia SAB&T,
		an 84% black-owned and 48% black women-
		owned assurance firm, has provided
		independent assurance on selected
		sustainability KPIs.
		Nexia SAB&T is joined by Khulagro Auditors, a
		100% black-owned audit firm	as a skills transfer
		beneficiary on this year's engagement.
		Khulagro Auditors' scope will gradually increase
		over the next three years. Our goal is for Nexia
		SAB&T and Khulagro Auditors to issue a joint
		assurance statement by 2025.
	2-6 Activities,	We mine, process, refine and	market high-	An overview is	Read our Group overview
	value chain and	quality metal products safely, efficiently and	provided in the	in our ESG report chapter,
	other business	responsibly from a competitive asset portfolio.	Business overview	pages 8 to 9
	relationships	We deliver metals that enable a cleaner and	chapter pages 12 to
		23. This chapter
		healthier world, in a way that generates
		includes an
		sustainable returns for our shareholders and
		organisational
		strives to make a meaningful and lasting
		overview, our value
		positive contribution to society.
		proposition and our
				business model

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GRI report 2023 (continued)

Statement	Implats has reported the information cited in this GRI content index for the year ended 30 June 2023 with reference
of use	to the GRI Standards.
GRI STANDARD	DISCLOSURE	COMPANY RESPONSE	AIR	ESG
GRI 2:	2-7 Employees	Our people are our most prized and valuable	Pages 34 to 39	Our workforce figures are
General		asset. Without a diverse, inclusive and safe		presented in the
disclosures		working environment in which our people feel		performance data tables
2021		engaged and valued, we will not achieve our		on pages 130 to 133 of
continued		purpose to create a better future for our		our ESG report
		stakeholders.
		We aim to maximise individual potential,
		increase leadership capacity and capability, and
		position Implats as an employer of choice while
		focus is given to the underpinning strategic
		imperatives of sustainable development, talent
		management and transformation.
		Across the Implats Group, we have a workforce
		of 38 256 employees (2022: 38 027 employees)
		and 22 088 contractors (2022: 20 530
		contractors), with women comprising 13.4% of
		our workforce (2022: 12.5%).
	2-8 Workers who	The majority of our workforce are full-time		Our workforce figures
	are not employees	employees or supervised employees of		are presented in the
		contractors.		performance data tables
				on pages 130 to 133 of

We do not have any significant variations in	our ESG report
employment numbers as we do not operate a
seasonal business.

GRI report 2023 (continued)

Statement	Implats has reported the information cited in this GRI content index for the year ended 30 June 2023 with reference to
of use	the GRI Standards.
GRI STANDARD	DISCLOSURE	COMPANY RESPONSE	AIR	ESG
GRI 2:	2-13 Delegation of	The STR committee, supported by the HSE	Pages 70 to 77	Read how we
General	responsibility for	committee, addresses ESG-related issues at		monitor sustainability
disclosures	managing impacts	board level.		performance on
2021		Group risks and opportunities are presented to		page 34
continued
	the board every quarter. Where the response to a
		topic is deemed unsatisfactory, we work to
		redesign our approach with key stakeholders to
		improve our performance.
	2-14 Role of the	The two key board committees involved in	A detailed review of	Review of our
	highest governance	sustainability governance issues - the STR and	the composition and	sustainability
	body in sustainability	the HSE committees.	activities of these	governance structures
	reporting		board committees is	and processes on
			provided in the AIR on	pages 33 and 34
			pages 72 to 75
	2-15 Conflicts of	Implats' code of ethics underpins the business		Page 35
	interest	practice to which all employees and suppliers are
		expected to adhere.
		Our fraud, corruption and whistleblowing
		policy outlines conflicts of interest and
		disciplinary action (including dismissal or
		prosecution) that will be taken in the event of any
		contravention.
		Further information is provided in the ESG report
		section on upholding business ethics and
		integrity, and the policies can be found on our

2-9 Governance	An overview is provided in the corporate
structure and	governance review in our AIR, as well as
composition	referenced in our ESG report's governance
	chapter.
	Detailed information on our governance
	structure, including the nature of the
	composition of the board of directors and
	the various board committees is provided on
	our website.
2-10 Nomination	Our nominations, governance and ethics
and selection of	committee are responsible for board selection.
the highest	The committee governs succession and drives
governance body	board effectiveness through evaluations.
2-11 Chair of the	Our chairperson is an independent non-
highest	executive director.
governance body

Pages 70 to 77

Page 35

Review the board committee structure on pages 70 to 77

Pages 69 to 73

	website.
2-16 Communication	Critical concerns are reported to the board by the	Pages 69 to 77	Pages 33 to 34
of critical concerns	STR and HSE committees.
2-17 Collective	The board and the sub-committees undergo an	Pages 78 to 86
knowledge of the	evaluation process every two years to assess
highest governance	their effectiveness.
body	To drive greater accountability around ESG, we
	have incorporated ESG-specific performance
	indicators into the executive-level balanced
	scorecards. See also Group remuneration
	report.
2-18 Evaluation of	The board and the sub-committees undergo an	Pages 78 to 86
the performance of	evaluation process every two years to assess
the highest	their effectiveness.
governance body	To drive greater accountability around ESG, we
	have incorporated ESG-specific performance
	indicators into the executive-level balanced

2-12 Role of the	A detailed review of the composition and
highest	activities of board committees is provided in
governance body	the AIR.
in overseeing the
management of
impacts

A detailed review of the composition and activities of these board committees is provided in the AIR pages 70 to 77

A brief review of the two key board committees involved in sustainability governance issues - the social, transformation and remuneration (STR) and the health, safety and environment (HSE) committees - is provided in the review of our sustainability governance structures and processes on pages 33 to 35

	scorecards. See also Group remuneration
	report.
2-19 Remuneration	Details are provided in the remuneration section	Pages 78 to 86
policies	of our AIR regarding on managing performance
	through remuneration. Further details are
	provided in the remuneration report.
2-20 Process to	Read how we manage performance through	Pages 78 to 86
determine	remuneration in our AIR and remuneration report.
remuneration	Sustainability objectives now form part of the
	KPIs against which our management's
	performance is measured. ESG KPI measures
	form part of our annual (short-term) bonus, with a
	fatality modifier included to moderate bonus
	outcomes.
	The CEO's balanced scorecard is linked to his
	remuneration and includes ESG KPIs. See also
	Group remuneration report.

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GRI report 2023 (continued)

Statement	Implats has reported the information cited in this GRI content index for the year ended 30 June 2023 with reference
of use	to the GRI Standards.
GRI STANDARD	DISCLOSURE	COMPANY RESPONSE	AIR	ESG
GRI 2:	2-21 Annual	An overview is provided in the wage gap analysis	Details are provided in
General	total	section in the AIR and in the ESG report.	the AIR review of
disclosures	compensation	Impala has made a concerted effort to close the	managing
2021	ratio	performance through
	wage gap by showing restraint in executive pay	remuneration on
continued
	while addressing the issue of minimum wages and	pages 78 to 80
		income differentials to improve the lives of our
		employees.
		Further details are provided in the remuneration
		report.
	2-22 Statement	Implats aspires to become an industry leader in	Page 87	Page 23
	on sustainable	sustainable development performance and ESG		Page 34
	development	disclosures, producing metals that sustain
	strategy	livelihoods beyond mining to create a better future.
		Sustainable development remains the responsibility
		of Exco. The Group executive: sustainable
		development is responsible for developing ESG/
		sustainability strategy and for reviewing
		performance in terms of the Group's non-financial
		indicators, and is also responsible for the
		environmental performance. There are also Group
		executives for each of the following functions:
		safety and health, people and stakeholder
		engagement.
		Exco lends support to the board's HSE, STR,
		nominations, governance and ethics (NGE)
		committee, and audit and risk committees (ARC).
	2-23 Policy	Implats has a code of ethics, anti-bribery and		Read our section
	commitments	anti-corruption policy and related governance		respecting human
		policies in place to guide ethical behaviour.		rights in the ESG report
		Our human rights policy clearly stipulates the		pages 36 to 38
		prohibition of child labour and the promotion of
		human rights and equality.
		Suppliers are bound to our supplier code of
		conduct and procedures.
	2-24	Our code of ethics outlines conflicts of interest,	Page 6	Page 35
	Embedding	the prevention of dissemination of Company
	policy	information, the acceptance of donations and gifts,
	commitments	and the protection of the intellectual property and

patent rights of the Company.

GRI report 2023 (continued)

Statement	Implats has reported the information cited in this GRI content index for the year ended 30 June 2023 with reference
of use	to the GRI Standards.
GRI STANDARD	DISCLOSURE	COMPANY RESPONSE	AIR	ESG
GRI 2:	2-27	Implats adheres to sound standards of corporate	Pages 69 to 77	Pages 32 to 36
General	Compliance	governance and all applicable laws. The Group
disclosures	with laws and	has a formal risk management framework, and
2021	regulations	management actively and continuously monitors
continued		and reports on compliance.
		The board is guided by the principles of the King IV
		Code on Corporate GovernanceTM* (King IV), the
		Companies Act, 2008, the JSE Listings
		Requirements and all other applicable laws,
		standards and codes. The King IV compliance
		register is available on our website.
	2-28	We remain a member of various industry associations		Page 44
	Membership	that support government in policy development.		Pages 26 and 27
	associations	These include, but are not limited to, the International
		Platinum Association (IPA) and the Minerals Council
		South Africa, as well as of the Energy Intensive Users
		Group of Southern Africa, the Zimbabwe Chamber of
		Mines, the Mine Rescue Association (Zimbabwe) and
		the Business Council for Sustainable Development
		(Zimbabwe), the Women in Mining leadership forum
		(WIMLF) and the Women in Mining task team
		(WIMTT). Implats is also a signatory of the United
		Nations Global Compact (UNGC).
	2-29 Approach	Our stakeholders are vital participants in our mutual	Pages 48 to 57	Pages 40 to 45
	to stakeholder	value-creation process. Stakeholders are defined as
	engagement	those individuals or groups which have interests that
		are or could be impacted by our activities and
		decisions.
		We have an effective stakeholder engagement
		function, aimed at building and sustaining value-
		enhancing relations with all our key stakeholders.
		See the ESG report section on stakeholder
		engagement and AIR section on stakeholder
		interests.
	2-30 Collective	Our employees have a right to freedom of association		Pages 58 to 59
	bargaining	and can join a trade union and engage in collective
	agreements	bargaining. Through collaborative efforts, we have
		maintained stable and constructive labour relations
		and partnerships with unions at all our operations.

2-25 Processes to remediate negative impacts

2-26 Mechanisms for seeking advice and raising concerns

Oversight of the risk management system and	Pages 70 to 77	Page 35
processes are the responsibility of the ARC, while
each committee takes responsibility for the risks
relevant to it.
Implats has a code of ethics, anti-bribery and		Page 35
anti-corruption policy and related governance		Page 41
policies in place to guide ethical behaviour.
This year, the Group made substantial progress in
establishing a Group stakeholder complaints and
grievance management mechanism, targeted at
employees and communities.
A toll-free helpline is in place to facilitate the
confidential reporting (whistleblowing) of alleged
incidents that are reported to the chief audit
executive and the board chairman. All the relevant
policies can be found on the website,
www.Implats.co.za.

Employees currently covered by collective bargaining

agreements (excluding management): 83% of

permanent employees in South Africa, 72% of

employees in Canada, and 23% of employees

in Zimbabwe.

* Copyright and trademarks are owned by the Institute of Directors in South Africa NPC and all of its rights are reserved.

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GRI report 2023 (continued)

Statement	Implats has reported the information cited in this GRI content index for the year ended 30 June 2023 with reference
of use	to the GRI Standards.
GRI STANDARD	DISCLOSURE	COMPANY RESPONSE		AIR	ESG
GRI 3:	3-1 Process to	We take an integrated approach to identify matters	Pages 2 to 4	Pages 13 to 15
Material	determine	that could influence the erosion of, or our ability to
topics 2021	material topics	create or preserve value in the short, medium and
		long term.
		We followed the JSE Sustainability Disclosure
		Guidance by defining	materiality in terms of
		financial and impact	materiality, defined as double
		materiality. This involves identifying and prioritising
		matters that could impact our ability to create value
		(inward-focused financial materiality) for Implats, as
		well as matters that may impact our stakeholders
		(outward-focused impact materiality), society and
		the environment.
		The outcome of this process shaped our suite of
		annual reports, especially our AIR and ESG report.
	3-2 List of	Collectively, our material matters are grouped into	Page 4	Page 14
	material topics	10 themes that are considered most material for
		our value creation. The matters helped guide the
		information included in our reporting suite.
		While each material theme is relevant in each
		report, they are applied and positioned differently
		per the report's target audience.
	3-3	Implats has a suite of policies, which govern	Pages 4 to 147	Pages 23 to 123
	Management of	behaviour across ethics, safety, health and
	material topics	environment (SHE), human resources, labour
		relations, human rights and more.
		Commitments, goals and targets are approached
		uniquely within each topic. For health and safety,
		we have a zero-harm approach. Where appropriate
		we participate in collective action to solve systemic
		issues beyond our factory fence line. Initiatives
		tackling specific topics can be found throughout
		the ESG report and the AIR.
		The STR committee, supported by the HSE
		committee, address	ESG-related issues at board

level. The risks and opportunities are presented to the board every quarter. Where the response to a topic is deemed unsatisfactory, we work to redesign our approach with key stakeholders to improve our performance.

Implats has a comprehensive ESG framework in place to guide the development and integration of sustainability principles into its functional strategies, in alignment with the corporate strategy. Development of the framework included an intensive benchmarking exercise, within and outside of the mining industry, followed by workshops with corporate and operations leaders, and executives. The framework guides how Implats makes decisions in managing its interfaces with communities, employees, the environment, customers and stakeholders. Last year we also updated our environmental strategy to renew our commitments and set 2030 targets to align with industry best practice. Based on our ESG framework, this strategy serves to guide our capital allocation on projects.

GRI report 2023 (continued)

Statement	Implats has reported the information cited in this GRI content index for the year ended 30 June 2023 with reference
of use	to the GRI Standards.
GRI STANDARD	DISCLOSURE	COMPANY RESPONSE	AIR	ESG
GRI 201:	201-1 Direct	Our value-added statement for the Group and for the	Pages 98 to 147	Page 12
Economic	economic value	individual operations are provided in the AIR.
performance	generated and	A detailed breakdown of the economic value added
2016	distributed
throughout 2023 is provided on in our tax transparency and
		economic contribution report.
	201-2 Financial	A detailed assessment of the risks and opportunities of		Page 103
	implications and	climate change, including (where feasible) an assessment of		(see Climate
	other risks and	the financial implications, is provided in our most recent		Change Report at
	opportunities	CDP submission.		www.Implats.co.za)
	due to climate	Climate-related issues are addressed quarterly in various
	change
	board committees. The executive: sustainable development
		supports the Exco by developing the ESG/sustainability
		framework and strategy and reviewing performance in terms
		of the Group's non-financial indicators, while also being
		responsible for the environmental performance. The Group
		head: energy and Group head: environment facilitate the
		development of our energy management and
		decarbonisation plans respectively.
		Our Climate Change Report provides a detailed
		assessment of the risks and opportunities associated with
		climate change.
	201-3 Defined	This is disclosed as part of the annual financial statements
	benefit plan	(AFS), available on our website.
	obligations and
	other
	retirement
	plans
	201-4 Financial	No significant financial assistance from government towards
	assistance	our socio-economic partnership projects was received in
	received from	the year reviewed.
	government
GRI 202:	202-1 Ratios of	Implats is committed to providing competitive and fair	Page 80
Market	standard	wages and pays according to industry and market
presence	entry-level	benchmarks. A wage gap analysis overview is provided in
2016	wage by	our ESG report.
	gender	Implats' minimum wage is significantly higher than the
	compared to
	national level in South Africa. There are no local minimum
	local minimum
	wages that are stipulated. The compensation overview is
	wage
	provided in the remuneration report.
	202-2	Our procedures focus on drawing skills from surrounding		Page 136
	Proportion of	communities within our areas of operation. Our efforts are
	senior	reviewed in the section on talent attraction, retention and
	management	development.
	hired from the	Within the context of the South African operations,
	local
	challenges include the low educational levels, particularly of
	community
	youth. Our local hire distribution (represented by historically
		disadvantaged South Africans (HDSA)) is reported in the
		people performance data in the ESG report as well as in the
		sustainability section of our website. Local hire is defined as
		within country of operation and has been designated
		according to the proximity to the operation.
		Employee distribution is based on place of origin and is
		provided based on province and country. Statistics on the
		proportion of senior management hired from the local
		community are available for specific regions on request.

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