Acquisition of R959.7 million of Zambezi preference shares NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Share code: NHM ISIN: ZAE000030912 Debt issuer code: NHMI Bond code: NHM002 Bond ISIN: ZAG000129024 Bond code: NHM006 Bond ISIN: ZAG000158577 Bond code: NHM007 Bond ISIN: ZAG000158593 Bond code: NHM009 Bond ISIN: ZAG000158866 Bond code: NHM011 Bond ISIN: ZAG000159237 Bond code: NHM012 Bond ISIN: ZAG000160136 Bond code: NHM013 Bond ISIN: ZAG000162181 Bond code: NHM014 Bond ISIN: ZAG000163650 Bond code: NHM015 Bond ISIN: ZAG000164922 Bond code: NHM016 Bond ISIN: ZAG000167750 Bond code: NHM017 Bond ISIN: ZAG000167891 Bond code: NHM018 Bond ISIN: ZAG000168097 Bond code: NHM019 Bond ISIN: ZAG000168105 (“Northam” or the “group”) ACQUISITION OF R959.7 MILLION OF ZAMBEZI PREFERENCE SHARES Northam shareholders are referred to the announcement dated 3 April 2020 (“previous announcement”) pertaining to, inter alia, the acquisition by Northam of preference shares in Zambezi Platinum (RF) Limited (“Zambezi”) (“Zambezi preference shares”). Northam is pleased to announce that, since the date of the previous announcement, it has acquired an additional 11 717 037 Zambezi preference shares for a total cash consideration of approximately R959.7 million (“ZPLP acquisition”). Following the ZPLP acquisition, Northam will hold 65 093 887 Zambezi preference shares, representing approximately 40.71% of all Zambezi preference shares in issue. As stated in the previous announcement, Northam’s acquisition of Zambezi preference shares will reduce the preference share dividend expense and liability included in Northam’s consolidated financial statements, as well as Northam’s potential financial exposure under the guarantee it provided to holders of Zambezi preference shares, should the guarantee be called upon. Furthermore, should Zambezi redeem the Zambezi preference shares through a distribution of ordinary shares in Northam (“Northam shares”) held by Zambezi, then the redemption of the Zambezi preference shares held by Northam, at such time, will result in a distribution of Northam shares to Northam, thereby reducing the number of Northam shares in issue. The ZPLP acquisition has been fully funded through Northam’s internal cash resources. The ZPLP acquisition is not a categorised transaction in terms of the JSE Limited Listings Requirements and information relating thereto is provided for information purposes only. Paul Dunne, Northam’s Chief Executive Officer said “Northam had set itself an ambitious internal target of acquiring at least 40% of all Zambezi preference shares in issue in order to de-risk the company’s position and to simultaneously return significant value to its shareholders through our unique empowerment transaction. We are delighted to have achieved this target approximately halfway through the 10 year structure. The group’s financial position remains strong amidst very challenging global economic times.” Johannesburg 2 July 2020 Corporate Advisor, JSE Sponsor and Debt Sponsor to Northam One Capital Attorneys to Northam Cliffe Dekker Hofmeyr Inc. Date: 02-07-2020 05:24:00 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.