Employee Incentive Scheme Awards 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”) RBPLAT EMPLOYEE INCENTIVE SCHEME AWARDS Shareholders are advised that the Board has approved an allocation of scheme shares to eligible employees under the Bonus Share Plan (BSP) and the Forfeitable Share Plan (FSP), amounting to 1 387 106 and 1 048 110 scheme shares respectively, at a deemed value of R23.40 per share, effective 1 August 2018. The full allocation of BSP scheme shares will vest on 1 April 2021 in terms of the BSP scheme rules and the FSP scheme shares will vest at a rate of one third, on 1 April 2021, 2022 and 2023, subject to the performance criteria being met in terms of the FSP scheme rules. The scheme shares will be allotted and issued on the respective vesting dates as described above. The following executive directors, directors of a major subsidiary and the company secretary, will receive awards as follows: SD Phiri (chief executive officer) 69 398 ordinary shares in respect of the BSP scheme 221 899 ordinary shares in respect of the FSP scheme Total current market related value: R6 816 350 NA Carr (director of a major subsidiary) 45 847 ordinary shares in respect of the BSP scheme 116 117 ordinary shares in respect of the FSP scheme Total current market related value: R3 789 958 KV Tlhabanelo (director of a major subsidiary) 34 082 ordinary shares in respect of the BSP scheme 69 057 ordinary shares in respect of the FSP scheme Total current market related value: R2 413 453 LC Jooste (company secretary) 34 041 ordinary shares in respect of the BSP scheme Total current market related value: R796 559 The deemed value is determined using the 30 day VWAP of R23.40 at the effective date of the allocation, being 1 August 2018. The transaction date for the allocations is 18 October 2018. The nature and extent of interests in the above transactions are direct beneficial (once vested). All the aforementioned trades were done off market and clearance to trade has been given in terms of the JSE Listings Requirements. Johannesburg 23 October 2018 JSE Sponsor Merrill Lynch South Africa (Pty) Limited For further enquiries, please contact: Lester Jooste Company Secretary Tel: +27 (0)10 590 4519 Email: lester@bafokengplatinum.co.za Date: 23/10/2018 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.