IMP 201412110038A
Employee Equity Transaction

IMPALA PLATINUM HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE Share code: IMP
ADR code: IMPUY
ISIN: ZAE000083648
Convertible Bond
JSE Bond Code: IMPCB
ISIN: ZAE000175873

(?Implats? or ?the Group?)

IMPALA PLATINUM LIMITED: EMPLOYEE EQUITY TRANSACTION

Implats has concluded an equity transaction (?transaction?) for the benefit of qualifying employees
of its subsidiary company, Impala Platinum Limited (?Impala?). In terms of this transaction, the
newly formed Impala Employee Share Ownership Trust (?the Trust?) has subscribed for new Impala
shares comprising 4% of Impala?s share capital (?the Trust Shares?).

The Board of Directors of Implats has approved the provision by Implats of a loan of approximately
R1.1 billion to the Trust to enable the Trust to subscribe for the Trust Shares.

Impala is Implats? primary operational unit and has mining and processing operations situated on the
Impala lease area near Rustenburg, and refining operations in Springs, east of Johannesburg.

Implats? Chief Executive Officer, Terence Goodlace commented, ?This transaction provides a
meaningful way of aligning employees? interests with the future profitability of Impala, while also
increasing the ownership of Historically Disadvantaged South Africans to well above the 26% level?.

The consultation processes to discuss details pertaining to the transaction have commenced and will
continue early in 2015. These will take place in, amongst other, the forums agreed post the
conclusion of the wage settlement signed on 23 July 2014 between Impala and the Association of
Mineworkers and Construction Union (?AMCU?).

The beneficiaries of the Trust will be all Patterson grade A to C level permanent employees of Impala
from time to time working at the Impala Rustenburg North and South mining operations, mineral
processing and services, and the refinery (?the participating entities?), provided they meet the
relevant qualification criteria. The participating entities each have union representation through
workers? committees which have a Chairman, Deputy Chairman and Treasurer, and who are
appointed by the union members. The Trust will have 17 appointed trustees, including the three
office bearers from each workers? committee, as well as two independent and three Impala
appointed trustees.
The loan provided by Implats to the Trust for the subscription by the Trust of the Trust Shares carries
no interest and has no final repayment date. The loan will be repaid through Impala?s future
dividends to which the Trust will be entitled as a shareholder in Impala. Dividends paid from Impala?s
future profits will be distributed to the Trust to be utilised as follows:

-   65% to all qualifying beneficiaries under the Trust; and
-   35% to Implats towards repayment of the loan provided.

Following the repayment of the loan in full, qualifying employees will receive 100% of the dividends
declared by Impala to the Trust and this will endure for the life of the mine and its associated
processing and refining operations.

Impala will cover the costs of operating the Trust.

Queries:
Johan Theron
E-mail: johan.theron@implats.co.za
T: +27 (0) 11 731 9013/43
M: +27 (0) 82 809 0166

Alice Lourens
E-mail: alice.lourens@implats.co.za
T: +27 (0) 11 731 9033/43
M: +27 (0) 82 498 3608

11 December 2014
Johannesburg

Sponsor to Implats
Deutsche Securities (SA) Proprietary Limited

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