SOUTHERN PALLADIUM LIMITED - Managing Directors Presentation to Annual General Meeting

Managing Director’s Presentation to Annual General Meeting

Southern Palladium Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 646 391 899
ASX share code: SPD
JSE share code: SDL
ISIN AU0000220808
("Southern Palladium" or "the Company")


Managing Director's Presentation to Annual General Meeting


Southern Palladium Limited (ASX Code: SPD and JSE Code: SDL) releases the Managing Director's
presentation to the Company's Annual General Meeting which is to be held today.

The Managing Director's Presentation is available on the Company's website at
https://www.southernpalladium.com/site/investor-centre/presentation

Authorised by the Company Secretary.

For further information, please contact:

Johan Odendaal
Managing Director
Southern Palladium
Phone: +27 82 557 6088
Email: johan.odendaal@southernpalladium.com

28 November 2023

JSE Sponsor
Merchantec Capital

Media & investor relations inquiries: Sam Jacobs, Six Degrees Investor Relations: +61 423 755 909
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About Southern Palladium:
Southern Palladium Limited (ASX:SPD, JSE:SDL) is a dual-listed platinum group metal (PGM) company developing the
advanced Bengwenyama PGM project, particularly rich in palladium/rhodium, in South Africa. The project is located
on the Eastern Limb of the Bushveld Complex, which contains more than 70% of the world's known Platinum Group
Metal (PGM) Resources.

The Company, holding a 70% stake in the project, will primarily concentrate on delivering a Pre-Feasibility study.
Additionally, following the completion of a geophysical survey conducted in 2022 and the September 2023 submission
of the Mining Right application, they will oversee the completion of the diamond drill programme initiated in August
2022, along with several other concurrent technical studies.

Bengwenyama presents a substantial opportunity in the global PGM market. Previous exploration efforts have
already yielded a JORC 2012-compliant Inferred Mineral Resource of 25.12Moz within two ore horizons—the UG2
chromitite and Merensky Reef, achieved in 2023.

Moreover, an assessment conducted by mining industry consultants CSA Global in 2021, has identified a significant
exploration target beyond the currently explored area. The Company is led by a seasoned on-ground management
team, including some of South Africa's most distinguished mining industry executives.

JORC Compliance Statement

The information is extracted from the report entitled "Bengwenyama drilling and PFS progress update: Combined PGE
Mineral Resource now totals 25.1Moz (7E basis)' created on 10 July 2023 and is available to view on
www.southernpalladium.com . The company confirms that it is not aware of any new information or data that materially
affects the information included in the original market announcement and, in the case of estimates of Mineral Resources
or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant
market announcement continue to apply and have not materially changed. The company confirms that the form and
context in which the Competent Person's findings are presented have not been materially modified from the original
market announcement.

Date: 28-11-2023 07:39:00
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