Royal Bafokeng Platinum : Section 11 approval in respect of the acquisition of the RPM Participation Interest

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

JSE share code: RBP

ISIN: ZAE000149936

Company code: RBPD

Bond code: RBPCB

ISIN: ZAE000243853

("RBPlat" or "the Company")

SECTION 11 APPROVAL IN RESPECT OF THE ACQUISITION OF THE RPM PARTICIPATION INTEREST

Security holders are referred to the various announcements released by the Company on SENS, the last of which was dated 12 December 2018, in terms of which the Company advised security holders that its wholly-owned subsidiary, Royal Bafokeng Resources Proprietary Limited ("RBR"), had entered into an agreement with Rustenburg Platinum Mines Limited ("RPM"), a wholly-owned subsidiary of Anglo American Platinum Limited, in terms of which RBR would, in a two-phased transaction, acquire the balance of the 33% interest in the Bafokeng Rasimone Platinum Mine Joint Venture ("BRPM JV") ("RPM Participation Interest") from RPM (the "Transaction").

On 12 December 2018, security holders were advised that all conditions precedent to phase I of the Transaction had been fulfilled and that, with effect from 11 December 2018, the risks and rewards of ownership had passed to RBR in respect of the RPM Participation Interest, including full title in respect of all assets owned by RPM, other than RPM's 33% undivided interest in the mining rights attributable to the BRPM JV.

The board of directors of RBPlat is pleased to advise security holders that the Department of Mineral Resources has now granted its unconditional consent in terms of section 11(1) of the Mineral and Petroleum Resources and Development Act, 2002, to the transfer of RPM's undivided interest in the mining rights. Accordingly, in terms of phase II of the Transaction, RBR will proceed to register full title in respect of RPM's 33% undivided interest in the mining rights attributable to the BRPM JV (which entails consolidating RPM's 33% participation interest with the 67% already held by RBR in such mining rights). Accordingly, the Company confirms that in addition to phase I of the Transaction having been completed, the conditions precedent to phase II of the Transaction have now been met.

Johannesburg

17 July 2019

Corporate advisor and transaction sponsor

Legal advisor

Questco (Pty) Ltd

Bowmans

1

JSE sponsor

JSE debt sponsor

Merrill Lynch South Africa (Pty) Ltd	RMB
	(a division of FirstRand Bank Limited)

For further information, please contact:

Lindiwe Montshiwagae

Executive: Investor Relations

Tel: [phone]

Email: [e-mail]

2