07 Sep - 5 min read

Notification of an acquisition of beneficial interest in securities by Clients of Allan Gray Proprietary Limited

Notification of an acquisition of beneficial interest in securities by Clients of Allan Gray Proprietary Limited

Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
“Sibanye-Stillwater” or the “Group” or the “Company”)
Website: www.sibanyestillwater.com

Notification of an acquisition of beneficial interest in securities by Clients of Allan
Gray Proprietary Limited (“Allan Gray”)

Johannesburg, 7 September 2021: 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 Allan Gray, has on behalf of its clients, in aggregate,
acquired an interest in the ordinary shares of the Company, such that the total
interest in the ordinary shares of the Company held by Allan Gray, on behalf of its
clients, has increased from 4.9865% to 5.0020% of the total issued shares of the

Sibanye-Stillwater has, as required by section 122(3)(a) of the Act filed the required
notice with the Takeover Regulation Panel.

Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Public Relations
Tel: +27 (0) 83 453 4014

Sponsor: J.P. Morgan Equities South Africa Proprietary


The information in this document may contain forward-looking statements within the meaning of
the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of
1995. These forward-looking statements, including, among others, those relating to Sibanye
Stillwater Limited’s (“Sibanye-Stillwater” or the “Group”) financial positions, business
strategies, plans and objectives of management for future operations, are necessarily estimates
reflecting the best judgment of the senior management and directors of Sibanye-Stillwater and
involve a number of risks and uncertainties that could cause actual results to differ materially
from those suggested by the forward-looking statements. As a consequence, these forward-looking
statements should be considered in light of various important factors, including those set forth
in this report.

All statements other than statements of historical facts included in this report may be forward-
looking statements. Forward-looking statements also often use words such as “will”, “forecast”,
“potential”, “estimate”, “expect”, “plan”, “anticipate” and words of similar meaning. By their
nature, forward-looking statements involve risk and uncertainty because they relate to future
events and circumstances and should be considered in light of various important factors,
including those set forth in this disclaimer. Readers are cautioned not to place undue reliance
on such statements.

The important factors that could cause Sibanye-Stillwater’s actual results, performance or
achievements to differ materially from estimates or projections contained in the forward-looking
statements include, without limitation, Sibanye-Stillwater’s future financial position, plans,
strategies, objectives, capital expenditures, projected costs and anticipated cost savings,
financing plans, debt position and ability to reduce debt leverage; economic, business, political
and social conditions in South Africa, Zimbabwe, the United States and elsewhere; plans and
objectives of management for future operations; Sibanye-Stillwater’s ability to obtain the
benefits of any streaming arrangements or pipeline financing; the ability of Sibanye-Stillwater
to comply with loan and other covenants and restrictions and difficulties in obtaining additional
financing or refinancing; Sibanye-Stillwater’s ability to service its bond instruments; changes
in assumptions underlying Sibanye-Stillwater’s estimation of its current mineral reserves; any
failure of a tailings storage facility; the ability to achieve anticipated efficiencies and
other cost savings in connection with, and the ability to successfully integrate, past, ongoing
and future acquisitions, as well as at existing operations; the ability of Sibanye-Stillwater
to complete any ongoing or future acquisitions; the success of Sibanye-Stillwater’s business
strategy and exploration and development activities; the ability of Sibanye-Stillwater to comply
with requirements that it operate in ways that provide progressive benefits to affected
communities; changes in the market price of gold and PGMs; the occurrence of hazards associated
with underground and surface mining; any further downgrade of South Africa’s credit rating; a
challenge regarding the title to any of Sibanye-Stillwater’s properties by claimants to land
under restitution and other legislation; Sibanye-Stillwater’s ability to implement its strategy
and any changes thereto; the occurrence of labour disruptions and industrial actions; the
availability, terms and deployment of capital or credit; changes in the imposition of regulatory
costs and relevant government regulations, particularly environmental, tax, health and safety
regulations and new legislation affecting water, mining, mineral rights and business ownership,
including any interpretation thereof which may be subject to dispute; the outcome and consequence
of any potential or pending litigation or regulatory proceedings or environmental, health or
safety issues; the concentration of all final refining activity and a large portion of Sibanye-
Stillwater’s PGM sales from mine production in the United States with one entity; the
identification of a material weakness in disclosure and internal controls over financial
reporting; the effect of US tax reform legislation on Sibanye-Stillwater and its subsidiaries;
the effect of South African Exchange Control Regulations on Sibanye-Stillwater’s financial
flexibility; operating in new geographies and regulatory environments where Sibanye-Stillwater
has no previous experience; power disruptions, constraints and cost increases; supply chain
shortages and increases in the price of production inputs; the regional concentration of Sibanye-
Stillwater’s operations; fluctuations in exchange rates, currency devaluations, inflation and
other macro-economic monetary policies; the occurrence of temporary stoppages of mines for
safety incidents and unplanned maintenance; Sibanye-Stillwater’s ability to hire and retain
senior management or sufficient technically skilled employees, as well as its ability to achieve
sufficient representation of historically disadvantaged South Africans in its management
positions; failure of Sibanye-Stillwater’s information technology and communications systems;
the adequacy of Sibanye-Stillwater’s insurance coverage; social unrest, sickness or natural or
man-made disaster at informal settlements in the vicinity of some of Sibanye-Stillwater’s South
African-based operations; and the impact of HIV, tuberculosis and the spread of other contagious
diseases, such as the coronavirus disease (COVID-19). Further details of potential risks and
uncertainties affecting Sibanye-Stillwater are described in Sibanye-Stillwater’s filings with
the Johannesburg Stock Exchange and the United States Securities and Exchange Commission,
including the Integrated Annual Report 2020 and the Annual Report on Form 20-F for the fiscal
year ended 31 December 2020.

These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater
expressly disclaims any obligation or undertaking to update or revise any forward-looking
statement (except to the extent legally required). These forward-looking statements have not
been reviewed or reported on by the Group’s external auditors.

Date: 07-09-2021 10:01:00
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