Sibanye-Stillwater

MEDIA RELEASE
Sibanye-Stillwater continually included in the FTSE4Good Index Series
Johannesburg, 14 July 2025: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased to announce its continued inclusion since 2016 as a constituent in the FTSE4Good Index Series.
Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to
measure the performance of companies demonstrating strong Environmental, Social and Governance
(ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to identify and
evaluate responsible investment funds and other products.
FTSE Russell evaluations are based on performance in areas including Corporate Governance, Health &
Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a
variety of Environmental, Social and Governance criteria.
For ease of reference, Sibanye-Stillwater’s sustainability/ESG disclosure for 2024 is available at
www.sibanyestillwater.com/sustainability/ and based on our 2024 suite of reports, available at
www.sibanyestillwater.com/news-investors/reports/annual/.
Sibanye-Stillwater Chief Executive Officer, Neal Froneman, said, “We are pleased with our continued
inclusion in the FTSE4Good Index, which demonstrates the Group’s ongoing commitment to
improvement through our actions and transparent reporting.”

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Sibanye-Stillwater to acquire US metals recycler Metallix, enhancing its global recycling footprint

Johannesburg, 21 July 2025: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) advises that it has
entered into a purchase agreement to acquire Metallix Refining (Metallix) for a cash consideration of
US$82m (an enterprise value of US$105m) (the Transaction). Metallix produces recycled precious metals,
including gold, silver and platinum group metals (PGMs), primarily from industrial waste streams. It operates two processing and recycling operations in Greenville, North Carolina. Metallix has a global customer base, which it services from the United Kingdom and South Korea, in addition to its customers in the United States. The company has been operating for over 60 years. For more information, refer to Metallix‘s
website at metallix.com/.
For the 12 months ended 31 December 2024, Metallix processed* approximately 4.2mlbs of precious
metals bearing waste materials and produced* approximately 21koz of gold, 874koz of silver, 48koz of
palladium, 48koz of platinum, 4koz of rhodium, 3koz of iridium and 263klb of copper.
Acquisition rationale
Metallix complements Sibanye-Stillwater’s US recycling operations in Montana and Pennsylvania, adding
processing capacity, proprietary technology and extensive knowledge and experience. The acquisition
enhances the Group’s global recycling reach and internal logistics capabilities, increasing its ability to
source materials from multiple regions, facilitating the delivery of end-to-end solutions to customers.
Based on the latest audited financial information, Metallix has recorded positive earnings and cash flow*
and is expected to contribute positively to the Sibanye-Stillwater Group earnings and cash flow
immediately.
The Transaction is expected to close during the third quarter of 2025, subject to receipt of applicable
regulatory approvals customary to a transaction of this nature.
Sibanye-Stillwater Chief Executive Officer, Neal Froneman commented, “We are excited to be adding
Metallix to our existing recycling footprint – the scale, technology and know-how adds positively to our
existing recycling operations and advances our urban mining strategy. We expect significant value uplift
through the large number of synergies with our existing recycling operations.”
Categorisation of the transaction
The Transaction is not a categorised transaction under the JSE Limited Listings Requirements and this
announcement has been voluntarily released by Sibanye-Stillwater.
* Source: Metallix
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Appointment of Chief Regional Officer for Sibanye-Stillwater’s Southern Africa (SA) region
Johannesburg, 24 July 2025: Sibanye-Stillwater (JSE: SSW and NYSE: SBSW) is pleased to announce the
appointment of Richard Cox as Chief Regional Officer of the Southern African region (CRO: SA region),
effective 1 July 2025, having served as acting CRO: SA region since May 2025 and prior to that was
Executive Vice-President (EVP): Processing for the SA region.
Richard joined Sibanye-Stillwater in November 2020 as Senior Vice-President (SVP): Strategy Advisor before being promoted to EVP: SA region gold operations in February 2021 and EVP: Processing, SA region in April 2024. He has extensive experience in the mining industry and has occupied various leadership roles across a range of commodities and geographies, including at Anglo American Platinum (Valterra), at Anglo American North Americas in project work and at AngloGold Ashanti’s South African and Malian
operations. Richard holds a BSc in Mining from the University of the Witwatersrand, an MBA from the
Gordon Institute of Business Science and has completed the Stanford Executive Programme at the
Stanford University Graduate School of Business.
Group CEO, Neal Froneman commented on his appointment, “We welcome Richard's promotion to the
C-Suite, and his appointment as CRO: SA region. He ably stepped in as acting CRO: SA region in May
2025, filling a critical role previously occupied by CEO designate Richard Stewart, ensuring continuity
and confirming his capability. His appointment followed an intensive recruitment process involving both
internal and external candidates. His appointment highlights the quality and depth of internal leadership
at Sibanye-Stillwater and validates our succession processes.”
For full biographies of executive members, please refer to www.sibanyestillwater.com/about-
us/leadership.
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Notification of an acquisition of beneficial interest in securities by the PIC
Johannesburg, 25 July 2025: In accordance with section 122(3)(b) of the Companies Act 71 of 2008 (the
Act), Regulation 121(2)(b) of the Companies Act Regulations, 2011 and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby advised that Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) has received formal notification that the Public Investment Corporation SOC Limited (the PIC) have, in aggregate, acquired an interest in the ordinary shares of the Company such that the total interest held by the PIC amounts to 20.203% of the total issued ordinary shares of Sibanye-Stillwater.
In accordance with section 122(3)(a) of the Act, Sibanye-Stillwater has filed the required notice with the
Takeover Regulation Panel.
The board of directors of Sibanye-Stillwater accepts responsibility for the information contained in this
announcement. Having received the forms TRP121.1 from the PIC, and to the best of its knowledge, the
board believes the information contained in the announcement is true and does not omit anything likely to
affect the importance of the information contained in this announcement.
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palladium industry participants (domestic palladium mining and recycling companies), filed antidumping
and countervailing duty petitions with the US Department of Commerce (Commerce) and the US
International Trade Commission (ITC) on imports of unwrought* palladium from Russia. The parties are
petitioning for duties to be imposed on Russian palladium imports to promote a fair and competitive
market, and support the long-term viability of US PGM supply. If successful, imports of unwrought palladium from Russia to the US will be subject to duties to offset the levels of dumping and subsidies identified.
Once filed, Commerce will initiate a decision whether to investigate or note within 21 days, the ITC will
make a preliminary determination within 45 days, and then Commerce may issue preliminary
countervailing duty tariffs within five months and preliminary antidumping tariffs within seven months. A
final determination should occur within 13 months of filing the case.
“We believe that Russian palladium imports are being sold below market prices due to various factors,
beginning primarily after the Russian invasion of Ukraine in 2022. Companies and industries in Western
economies are generally held to higher standards and are subject to more stringent requirements than
peers in less regulated environments and are consequently at a material competitive disadvantage.
Obtaining relief from dumped and subsidised Russian imports will give Sibanye-Stillwater, its employees,
2 and the entire US PGM industry, an opportunity to compete on a more level playing field.” said Neal
Froneman, CEO of Sibanye-Stillwater.
*Unwrought palladium refers to palladium in its raw, unprocessed form—typically as bars, ingots, powder, or wire—before it has been manufactured into finished products or components. According to legal and trade definitions, it is considered an unmanufactured precious metal.
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Sibanye-Stillwater publishes its Broad-Based Black Economic Empowerment annual compliance report
Johannesburg, 1 August 2025: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased to advise that it has maintained its level 4 Broad-Based Black Economic Empowerment (B-BBEE) rating for 2025, the second consecutive year it has retained this rating.
The Group’s annual compliance report in terms of Section 13G (2) of the Broad-Based Black Economic Empowerment (B-BBEE) Act 2003 (the Report) was issued on 31 July 2025. In accordance with paragraph 16.21 (g) and Appendix 1 to Section 11 of the JSE Listings Requirements, the Report is available on the Group’s website:
www.sibanyestillwater.com/news-investors/reports/regulatory/2025/.
CEO, Neal Froneman, commented: “Retaining our level 4 Broad-Based Black Economic Empowerment accreditation is pleasing and maintains the material improvement from our first level 8 rating in 2021. This leading performance is a consequence of both our journey of transformation and delivering on our vision to create superior shared value for all our stakeholders.”
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