20 CONDENSED CONSOLIDATED INTERIM RESULTS 20 FOR THE SIX MONTHS - PowerPoint PPT Presentation

20 CONDENSED CONSOLIDATED INTERIM RESULTS 20 FOR THE SIX MONTHS ENDED 30 JUNE 2020

Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

CONTENTS Overview Market review Operational review Financial review Outlook and guidance

01 OVERVIEW

Human Financial Manufactured Natural > 37.4% > 573.6% increase > Strong performance > Potable water cost saving > 16.7% 45 production days lost > > > R701.8 million > 12.9% decrease water treated at > RPM deferred the BRPM plant R225 million consideration settled > 10.1% increase Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

RBPlat BRPM Styldrift Achievements 2020 Project update 2020 Project update > > > > > > > Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

1 2 3 4 5 COVID-19 NUTRITIONAL VIRAL SPREAD EDUCATION QUARANTINE, AWARENESS SUPPORT REDUCTION AND SUPPORT ISOLATION AND CAMPAIGNS CONTAINMENT TREATMENT FACILITIES Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

02 MARKET REVIEW

Global platinum supply forecast Global palladium supply forecast 10.0 Peak = 7.3 10.0 9.0 9.0 2.1 2.0 8.0 8.0 Peak = 6.9 7.0 7.0 1.6 6.6 2014= 4.9 6.0 6.0 2014 = 6.4 5.3 5.0 5.0 5.3 4.0 4.0 3.7 3.0 2.6 3.0 3.1 2.1 2.0 2.0 1.9 1.0 1.0 0.0 0.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020F 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020F Global primary supply Recycling SA supply Global primary supply Recycling SA supply > Global refined platinum production is predicted to decline by > Total palladium supply is forecast to contract by 12% to 8.7Moz 14% year-on-year to 5.3Moz this year • Global palladium production from mines is forecast to decline by 9% • South African mine output is estimated to decrease by 17% to 3.7Moz to 6.6Moz from a peak of 7.3Moz in 2019 • Supply of platinum from recycling is forecast to be lower than in 2019 > Total rhodium supply is expected to be 17% lower at 0.95Moz compared to 1.15Moz in 2019 Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

Indexed price (2 January 2019 = 100) – 4E Basket > Strong average basket price of R28 388.8/4E oz driven by a higher rhodium price and rand weakness 600 > Automotive demand for platinum and palladium 500 forecast to decline in 2020 > Industrial, jewellery and investment demand also 400 forecast to decline in 2020 > Recovery in China expected to be quicker than in 300 Europe or North America supporting a faster recovery in PGM demand 200 > Platinum market forecast to be in a modest deficit 100 > Palladium market deficit forecast to reduce > Rhodium market forecast to be in a deficit 0 Jan-19 Mar-19 May-19 Jul-19 Sep-19 Nov-19 Jan-20 Mar-20 May-20 ZAR Basket Platinum Palladium Rhodium Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

03 OPERATIONAL REVIEW

We are committed towards Growth through Styldrift achieving sustainability through balancing our aspirations of supported by increased responsible mining with Merensky and UG2 SUSTAINABLE accountability for our impacts on concentrating capacity RESPONSIBILITY GROWTH the environment, society and the broader economy The health and safety of Working closely with all our employees remains ZERO COVID-19 our stakeholders to limit fundamental to our HARM RESPONSE the adverse social and core value of safety and people economic impact of COVID-19 first COMPETITIVE FLEXIBILITY RESOURCES High grade Merensky and Operational flexibility through shallow capital efficient scalable Merensky and UG2 extraction and processing access to UG2 ore bodies Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

Total recordable injury frequency rate Serious injury frequency rate Lost time injury frequency rate H1 2020 PERFORMANCE 10.000 2.000 3.000 9.267 1.843 > No operational fatalities 8.643 2.475 for the period 2.500 8.000 1.600 /1 000 000 hrs /1 000 000 hrs 1.900 /1 000 000 hrs 2.000 1.747 1.140 5.550 > Continued trend of 6.000 1.200 year-on-year 1.500 0.719 4.000 0.800 improvements in all injury 1.000 frequency rate metrics 2.000 0.400 2 2 0.500 H1 2019 vs H1 2020 - - - FY 2018 FY 2019 H1 2020 FY 2018 FY 2019 H1 2020 FY 2018 FY 2019 H1 2020 Number of fatalities > 36.9% improvement in TIFR 40.1% 61.0% 29.4% > 37.4% improvement in SIFR > 16.7% improvement improvement improvement improvement in TIFR in SIFR in LTIFR in LTIFR Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

Strict screening, testing and social distancing protocols Tracking and reporting Preventative Response Supportive Response Hygiene, sanitisation, PPE, disinfection Dedicated COVID-19 treatment, quarantine and isolation facilities Optimised operating schedules and shift rotation Mine clinic and immune boosting programmes COVID-19 training and awareness campaigns Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

RBPlat supports all Waterkloof Hills School ˃ ˃ SDGs – prioritised and to be built over a 2 year adopted them as part of period in partnership our sustainability with the North West framework Department of Education Potable water savings R47.1 million ˃ ˃ due to treatment of invested in social and 264Ml of water equating labour plans to R3 million savings Over 1 200 families live ˃ Board approved water in our employee ˃ and energy efficiency housing development, targets Waterkloof Hills Estate Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

Total tonnes hoisted Built-up head grade (4E) Description Unit H1 2018 H1 2019 H1 2020 % Var Total development km 17.0 18.9 15.0 (20.6) 5.0 2 000 BRPM BRPM BRPM SD BRPM km 13.7 15.6 12.2 (21.8) 4.17 4.11 4.06 SD 3.98 3.81 4.0 1 600 SD Styldrift km 3.3 3.3 2.8 (15.2) SD 3.36 721 SD SD 850 Total stoping square metres 000m² 256 301 277 (8.0) 425 1 200 3.0 BRPM 000m² 211 204 168 (17.6) g/t kt 800 2.0 Styldrift 000m² 45 97 109 12.4 BRPM BRPM IMS panel ratio (BRPM) ratio 1.89 2.05 1.75 (14.6) 1 114 BRPM 1 095 938 400 1.0 Total tonnes hoisted kt 1 539 1 816 1 788 (1.5) BRPM kt 1 114 1 095 938 (14.3) 0 0.0 H1 2018 H1 2019 H1 2020 H1 2018 H1 2019 H1 2020 Styldrift kt 425 721 850 17.9 > 8.0% decline in > 1.0% improvement Merensky kt 1 324 1 563 1 474 (5.7) stoping square metres in built-up head grade UG2 kt 215 253 314 24.1 > 17.9% improvement in > 4.5% improvement Styldrift tonnes hoisted in Styldrift built-up Built-up head grade (4E) g/t 3.96 3.99 4.03 1.0 head grade BRPM g/t 4.17 4.11 4.06 (1.2) Styldrift g/t 3.36 3.81 3.98 4.5 Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020

Description Unit H1 2018 H1 2019 H1 2020 % Var Total tonnes milled 4E metals in concentrate Total tonnes milled kt 1 529 1 869 1 623 (13.2) 250 2 100 BRPM kt 1 123 1 112 913 (17.9) 1 869 1 900 199.2 Styldrift kt 406 757 710 (6.2) 200 1 700 1 623 173.5 Merensky kt 1 314 1 610 1 319 (18.1) 164.5 1 529 UG2 kt 215 259 304 17.4 1 500 150 kt koz UG2 % milled % 14 14 19 (35.7) 1 300 Concentrator tonnes milled kt 1 407 1 869 1 623 (13.2) 100 1 100 BRPM Plant kt 1 407 1 289 1 114 (13.6) 900 Maseve Plant kt 0 580 509 (12.2) 50 700 Tonnes milled – UG2 Toll kt 122 0 0 0.0 500 0 Stockpile kt 10 0 172 100 H1 2018 H1 2019 H1 2020 H1 2018 H1 2019 H1 2020 Recovery – 4E (total concentrating) % 84.62 83.09 82.60 (0.6) 4E metals in concentrate koz 164.5 199.2 173.5 (12.9) > 13.2% decline in > 17.4% increase in BRPM koz 128.4 123.6 99.7 (19.3) tonnes milled UG2 tonnes milled Styldrift koz 36.1 75.6 73.8 (2.4) > 6.2% decline in Styldrift > 12.9% decline in tonnes milled 4E metals in concentrate Pt metal in concentrate koz 106.5 129.2 112.7 (12.8) BRPM koz 83.0 80.1 64.2 (19.9) Styldrift koz 23.5 49.1 48.5 (1.2) Condensed Consolidated Interim Results for the six months ended 30 June 2020 Condensed Consolidated Interim Results for the six months ended 30 June 2020