Sibanye Stillwater : Keynote at the Wits DigiMine digital technology seminar

Establishing an innovation culture that supports a digital first organisation

Wits DigiMine digital technology seminar

CEO, Neal Froneman

8 December 2020

Disclaimer

The information in this announcement may contain forward-looking statements within the meaning of the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, among others, those relating to Sibanye Stillwater Limited's ("Sibanye-Stillwater" or the "Group") financial positions, business strategies, plans and objectives of management for future operations, are necessarily estimates reflecting the best judgment of the senior management and directors of Sibanye-Stillwater.

All statements other than statements of historical facts included in this announcement may be forward-looking statements. Forward-looking statements also often use words such as "will", "forecast", "potential", "estimate", "expect" and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to

future events and circumstances and should be considered in light of various important factors, including those set forth in this disclaimer. Readers are cautioned not to place

undue reliance on such statements.

The important factors that could cause Sibanye-Stillwater's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, our future business prospects; financial positions; debt position and our ability to reduce debt leverage; business, political and social conditions in the United States, South Africa, Zimbabwe and elsewhere; plans and objectives of management for future operations; our ability to obtain the benefits of any streaming arrangements or pipeline financing; our ability to service our bond instruments; changes in assumptions underlying Sibanye-Stillwater's estimation of their current mineral reserves and resources; the ability to achieve anticipated efficiencies and other cost savings in connection with past, ongoing and future acquisitions, as well as at existing operations; our ability to achieve steady

state production at the Blitz project; the success of Sibanye-Stillwater's business strategy; exploration and development activities; the ability of Sibanye-Stillwater to comply with

requirements that they operate in a sustainable manner; changes in the market price of gold, PGMs and/or uranium; the occurrence of hazards associated with underground and surface gold, PGMs and uranium mining; the occurrence of labour disruptions and industrial action; the availability, terms and deployment of capital or credit; changes in relevant government regulations, particularly environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business ownership, including any interpretations thereof which may be subject to dispute; the outcome and consequence of any potential or pending litigation or regulatory proceedings or other environmental, health and safety issues; power disruptions, constraints and cost increases; supply chain shortages and increases in the price of production inputs; fluctuations in exchange rates, currency devaluations, inflation and other macro-economic monetary policies; the occurrence of temporary stoppages of mines for safety incidents and

unplanned maintenance; the ability to hire and retain senior management or sufficient technically skilled employees, as well as their ability to achieve sufficient representation of

historically disadvantaged South Africans in management positions; failure of information technology and communications systems; the adequacy of insurance coverage; any social unrest, sickness or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-Stillwater's operations; and the impact of HIV, tuberculosis and the spread of other contagious diseases, such as coronavirus ("COVID-19"). Further details of potential risks and uncertainties affecting Sibanye-Stillwater are described in Sibanye-Stillwater's filings with the Johannesburg Stock Exchange and the United States Securities and Exchange Commission, including the Integrated Annual Report and the Annual Report on Form 20-F.

These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-

looking statement (except to the extent legally required).

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Our six key strategic focus areas that drive value creation in our organisation

A high-performing, responsible precious metals mining company

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Digital transformation as a key operational excellence & safe production enabler…

The application of digital technology and work practices presents significant opportunity in the form of production and cost efficiencies…

Value Levers	Metric	Digital Work	Predictive	Automation	Short Interval	Digital	Total
Management	Maintenance	Control	Processing
Maintenance Cost	R/$	1.0-1.5%	5.0-6.0%	12.0-14.0%	-	-	18.0-21.5%
(Services)
Production Increase	Ton/Day	2.5-3.0%	-	5.0-5.5%	8.0-9.0%	-	15.5-17.5%
(UG)
Maintenance Cost	R/$	10.0-12.0%	1.0-2.0%	-	-	-	11.0-14.0%
(Labour)
Labour Cost	R/$	-	-	10.0-12.0%	-	-	10.0-12.0%
Throughput	Ton/Day	0.2-0.4%	0.3-0.4%	-	-	4.0-4.5%	4.5-5.3%
(processing)
Operating cost	R/Ton	-	2.0-3.0%	-	-	-	2.0-3.0%
(inventory, services)
Recovery	%	-	-	-	-	0.5-1.5%	0.5-1.5%
(processing, plant)

Most importantly, the application of digital technology has significant safety, health and wellness benefits and will enhance our ESG performance and facilitate more inclusivity of woman in our business

Digital technologies present significant opportunities for improvement across the mining value chain

Data Source: McKinsey & Company	4