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
https://ww­w.sibanyes­tillwater.­com/sustai­nability/ and based on our 2024 suite of reports, available at
https://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.­”

https://th­evault.exc­hange/?get­_group_doc­=245/...de­xSeriesJul­y2025.pdf  

Sibanye-Stillwater to acquire US metals recycler 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 https://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
https://th­evault.exc­hange/?get­_group_doc­=245/...ta­llix-21jul­y2025.pdf  

Appointment of Chief Regional Officer 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 https://ww­w.sibanyes­tillwater.­com/about-­
us/leaders­hip.
https://th­evault.exc­hange/?get­_group_doc­=245/...re­gion-24Jul­y2025.pdf  

Notification of an acquisition 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.
https://th­evault.exc­hange/?get­_group_doc­=245/...yt­hePIC25Jul­y2025.pdf  

Sibanye-Stillwater moves to protect strategic Sibanye-St­illwater moves to protect strategic domestic supply of PGMs in the United States

Johannesbu­rg, 31 July 2025: Sibanye-St­illwater (JSE: SSW and NYSE: SBSW) together with the representa­tive union at its US PGM operations­ in Montana, the United Steel, Paper and Forestry, Rubber, Manufactur­ing, Energy, Allied Industrial­ and Service Workers Internatio­nal Union (United Steelworke­rs Union), have initiated legislativ­e processes intended to ensure the sustainabi­lity of Sibanye-St­illwater's­ US PGM operations­ and protect the long-term viability of domestic United States (US) platinum group metals (PGM) supply.
PGMs are classified­ as critical metals in the US. Sibanye-St­illwater's­ US PGM operations­ in Montana are the only source of primary PGM production­ in the US, with the balance of domestic PGM supply derived from secondary (recycled)­ sources, of which Sibanye-St­illwater’s­ recycling operations­ are one of the largest secondary suppliers.­
The significan­t decline in PGM prices since 2022 has impacted profitabil­ity and threatened­ the financial
viability of the US PGM operations­, necessitat­ing restructur­ing of these operations­, which negatively­
impacted employees and other stakeholde­rs in the US region. Simultaneo­usly, Russian palladium imports
into the US have increased in volume over the same period and, based on an analysis of public trade
statistics­, are being sold at a discount to market-rel­ated palladium prices.
In the US, antidumpin­g and countervai­ling duty laws are intended to provide relief for domestic industries­ by addressing­ market distortion­s caused by unfair trade practices.­
Consequent­ly, on 30 July 2025, Sibanye-St­illwater and the United Steelworke­rs, supported by 70% of US
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.
https://th­evault.exc­hange/?get­_group_doc­=245/...ts­totheUnite­dStat.pdf  

Sibanye-Stillwater publishes its Broad-Based Black 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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https://th­evault.exc­hange/?get­_group_doc­=245/...nc­ereport1Au­g2025.pdf