Royal Bafokeng Platinum : Extension of Important Dates & Times in Relation to the Mandatory Offer & Update on Competition Tribunal Proceedings

ROYAL BAFOKENG PLATINUM LIMITED

(Incorporated in the Republic of South Africa) (Registration number: 2008/015696/06)

JSE share code: RBP ISIN: ZAE000149936

("RBPlat" or the "Company")

ANNOUNCEMENT BY IMPALA PLATINUM HOLDINGS LIMITED ("IMPLATS") REGARDING EXTENSION OF IMPORTANT DATES AND TIMES IN RELATION TO THE MANDATORY OFFER AND AN UPDATE ON THE COMPETITION TRIBUNAL PROCEEDINGS

Shareholders of RBPlat are referred to the SENS announcement released by Implats on Friday, 15 July 2022 (the "Implats Announcement") in relation to the mandatory offer by Implats to RBPlat shareholders (the "Mandatory Offer"), the terms of which are set out in the Implats' offer circular posted on Monday, 17 January 2022 (the "Offer Circular"), in which Implats notified RBPlat shareholders of the further extension of certain relevant dates relating to the Mandatory Offer as set out in the Offer Circular.

As referred to in the Implats Announcement, the Mandatory Offer remains conditional on Implats and RBPlat obtaining all requisite approvals in terms of the Competition Act, No. 89 of 1998, as amended, for the implementation of the Mandatory Offer. In this regard, shareholders of RBPlat are referred to:

• the joint SENS announcement released by Implats and RBPlat on 29 April 2022 regarding the positive recommendation of the South African Competition Commission to the South African Competition Tribunal
  ("Competition Tribunal"); and
• the RBPlat and Implats SENS announcements released on 27 May 2022 regarding the application by Northam Platinum Holdings Limited ("Northam") to intervene in the proceedings before the Competition Tribunal.

In the Implats Announcement RBPlat shareholders were informed that the Competition Tribunal considered the intervention application of Northam and granted an order for certain limited rights to participate in the merger proceedings and set down a merger hearing date for 2 August 2022. The Competition Tribunal's order has subsequently been challenged in the Competition Appeal Court.

As a consequence of the Competition Tribunal's order being challenged in the Competition Appeal Court, Implats has announced in the Implats Announcement that Implats has extended the date set for fulfilment or waiver of the conditions precedent applicable to the Mandatory Offer (i.e. the "Longstop Date" as defined in the Offer Circular) to Monday, 26 September 2022, and has amended the dates set out in the table of important dates and times appearing on page 8 of the Offer Circular.

The important dates and times in relation to the Mandatory Offer, as amended, are set out in the Implats Announcement and should be considered together with the Offer Circular.

Implats has also confirmed that it reserves the right to further extend the date set for fulfilment or waiver of the conditions precedent applicable to the Mandatory Offer on the basis set out in the Offer Circular, in which event a further announcement will be made.

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RESPONSIBILITY STATEMENT

The independent board of RBPlat ("Independent Board"), individually and collectively, accepts responsibility for the accuracy of the information contained in this announcement which relates to RBPlat, and has placed reliance on the information pertaining to Implats as presented by Implats in the Implats Announcement. To the best of the Independent Board's knowledge and belief, the information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of such information.

Johannesburg

15 July 2022

Lead Corporate & Financial Advisor and Transaction Sponsor to RBPlat

Questco Proprietary Limited

Financial Advisor and JSE Sponsor to RBPlat

Merrill Lynch South Africa Proprietary Limited t/a BofA Securities

Legal Advisor to RBPlat

Bowman Gilfillan Inc.

Queries:

Lindiwe Montshiwagae

Email: [e-mail]

Tel: [phone]

M: + 27 (0) 82 920 7803

Thandeka Mthembu

Email: [e-mail]

Tel: [phone]

M: [phone]