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Sibanye-Stillwater finalises wage agreement at its US PGM operations East Boulder mine
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
(“Sibanye-Stillwater”, “the Company” and/or “the Group”)
Registered Address:
Constantia Office Park
Bridgeview House • Building 11 • Ground Floor
Cnr 14th Avenue & Hendrik Potgieter Road
Weltevreden Park • 1709
Postal Address:
Private Bag X5 • Westonaria • 1780
Tel +27 11 278 9600 • Fax +27 11 278 9863
Website: www.sibanyestillwater.com
MARKET RELEASE
Sibanye-Stillwater finalises wage agreement at its US PGM operations East Boulder mine
Johannesburg, 30 September 2026: Sibanye-Stillwater (JSE: SSW and NYSE: SBSW) is pleased to announce
that its workforce has successfully ratified a new collective bargaining agreement at its East Boulder mine
in Montana in the United States, effective retroactively from 1 August 2026 to 31 July 2029, with the United
Steel Workers International Union (USW). The new agreement provides a wage increase of 4.5% in year
one and the greater of 3.5% or Consumer Price Index (CPI) in year two and the greater of 3.0% or CPI in
year three of the agreement.
The agreement is an important step in implementing the US PGM operations’ plan to fully mechanise its
mining, including a move away from a rock-breaking incentive to a team-based incentive and
modernising certain legacy benefits that were out-of-scope with the United States market.
Strike action by members of the USW at the Stillwater East mine and Columbus metallurgical facility
continues. The Company remains committed to constructive engagement to reach an agreement that
enables long-term sustainability of the operations.
About Sibanye-Stillwater
Sibanye-Stillwater is a global mining and metals processing group with a diverse portfolio of operations,
projects and investments across five continents. The Group is also one of the foremost global recyclers of
a suite of metals and has interests in leading secondary mining operations.
Sibanye-Stillwater is one of the largest producers and refiners of platinum group metals (PGMs: platinum,
palladium, rhodium, iridium and ruthenium) and is a top-tier gold producer. It also produces nickel,
chrome, copper, silver, cobalt and zinc. The Group has also diversified into mining and processing
battery metals and has increased its presence in the circular economy by expanding its recycling and
secondary-mining exposure globally. For more information, see www.sibanyestillwater.com.
Investor relations contact:
Email: ir@sibanyestillwater.com
Website: www.sibanyestillwater.com
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LinkedIn: https://www.linkedin.com/company/sibanye-stillwater
Facebook: https://www.facebook.com/SibanyeStillwater
YouTube: https://www.youtube.com/@sibanyestillwater/videos
X: https://twitter.com/SIBSTILL
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
DISCLAIMER
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the “safe harbour” provisions of the
United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact
included in this presentation may be forward-looking statements. Forward-looking statements may be identified by
the use of words such as “will”, “would”, “expect”, “forecast”, “potential”, “may”, “could”, “believe”, “aim”,
“anticipate”, “intend”, “target”, “estimate” and words of similar meaning.
These forward-looking statements, including among others, those relating to Sibanye Stillwater Limited’s (Sibanye-
Stillwater or the Group) future financial position, business strategies and other strategic initiatives, business prospects,
industry forecasts, production and operational guidance, climate and ESG-related targets and metrics, and plans
and objectives for future operations, project finance and the completion or successful integration of acquisitions,
are necessarily estimates reflecting the best judgement of Sibanye-Stillwater’s senior management. Readers are
cautioned not to place undue reliance on such statements. Forward-looking statements involve a number of known
and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the
control of Sibanye-Stillwater that could cause its actual results and outcomes to be materially different from historical
results or from any future results expressed or implied by such forward-looking statements. As a consequence, these
forward-looking statements should be considered in light of various important factors, including those set forth in
Sibanye-Stillwater’s 2025 Integrated Report and annual report on Form 20-F filed with the Securities and Exchange
Commission (SEC) on 24 April 2026 (SEC File no. 333-234096). These forward-looking statements speak only as of the
date of this presentation. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any
forward-looking statement (except to the extent legally required).
Websites
References in this announcement to information on websites (and/or social media sites) are included as an aid to
their location and such information is not incorporated in, and does not form part of, this announcement.
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Date: 30/09/2026 03:52:00
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