Consolidation of Operations of Impala Bafokeng Resources and Impala Platinum

IMPALA PLATINUM HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE share code: IMP
ISIN: ZAE000083648
ADR code: IMPUY
(Implats)


CONSOLIDATION OF OPERATIONS OF IMPALA BAFOKENG RESOURCES AND IMPALA
PLATINUM
 
1.     INTRODUCTION

       (a)     Impala Platinum Limited (Impala) and Impala Bafokeng Resources Proprietary
               Limited (IBR) are both subsidiaries of Implats.

       (b)     In response to low prevailing rand platinum group metal (PGM) pricing and to
               secure the long-term sustainability of both Impala and IBR, it has been agreed to
               consolidate the operations of Impala and IBR (consolidation). This consolidation
               will align the legal structure with current reporting lines in place, and facilitate and
               progress the realisation of synergies between the two operations. It is expected
               that, over time, the consolidation will improve profitability and ensure the
               sustainability of the combined operations, which shall be ongoing and continuous.

       (c)     There is no cash consideration attributable to the consolidation, nor will the
               shareholders of Implats, Impala or IBR change due to the consolidation. Further,
               the consolidation does not involve any related parties to the Implats group.
               Accordingly, this announcement is made voluntarily.

2.     CONSOLIDATION

       (a)     To give effect to the consolidation, Impala and IBR entered into an agreement in
               terms of which IBR will transfer its entire business (comprising the exploration,
               development and mining of PGMs and activities related thereto) including all its
               assets and liabilities to Impala as a going concern in terms of the tax rollover
               provisions as provided for in the Income Tax Act, 1962 (Agreement), after IBR and
               other companies of the Implats group have implemented certain reorganisational
               steps relating to the businesses prior to the consolidation.

       (b)     The effective date of the Agreement is 1 July 2025.




1 July 2025

Illovo, Johannesburg
Legal Advisors to Implats

Alchemy Law Africa

ENS

Sponsor to Implats

Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Ends



Queries:

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

Emma Townshend
E-mail: emma.townshend@implats.co.za
T : +27 (0) 21 794 8345
M : +27 (0) 82 415 3770

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

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY
OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.
This announcement is for information purposes only. It is not intended to and does not constitute,
or form part of, any offer, invitation or the solicitation of any offer to purchase, otherwise acquire,
subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval
in any jurisdiction, pursuant to the acquisitions of securities contemplated hereby or otherwise nor
shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of
applicable law.
Forward-Looking Statements

This announcement contains "forward-looking statements". Forward-looking statements can be
identified by words like "may," "will," "likely," "should," "expect," "anticipate," "future," "plan,"
"believe," "intend," "goal," "seek," "estimate," "project," "continue" and similar expressions.
Forward-looking statements are neither historical facts nor assurances of future performance.
Instead, they are based only on our current beliefs, expectations and assumptions regarding the
future of Implats' business, future plans and strategies, projections, anticipated events and trends,
the economy and other future conditions. Because forward-looking statements relate to the future,
they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to
predict and many of which are outside of Implats' control. Implats' actual results and financial
condition may differ materially from those indicated in the forward-looking statements. Therefore,
you should not rely on any of these forward-looking statements. The forward-looking statements
included in this announcement are made only as of the date of this announcement, and except as
otherwise required by law, Implats does not have any obligation to publicly update or revise any
forward-looking statements to reflect subsequent events or circumstances.

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Date: 01-07-2025 10:03:00
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