LONMIN PLC - Notification of Transactions of Directors and Persons Discharging Managerial Responsibilities ("PDMRs")

Notification of Transactions of Directors and Persons Discharging Managerial Responsibilities ("PDMRs")

Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number 1969/000015/10)
JSE code: LON
Issuer Code: LOLMI
ISIN: GB0031192486 ("Lonmin")


Notification of Transactions of Directors and Persons Discharging Managerial
Responsibilities ("PDMRs")


Pursuant to DTR 3.1.4 R, Lonmin Plc (the "Company") confirms that the following awards
were today granted to Ben Magara, who joined the Board as Chief Executive Officer on 1
July 2013.

   -   A nil cost award under the Company’s Long Term Incentive Plan (an “LTIP Award”)
       for 130,302 shares with normal vesting on the third anniversary of the date of grant.
       The LTIP Award is wholly subject to the satisfaction of a performance condition
       comprising:

       -       the measurement of sustained and broad-based operational performance
               using the Company’s Balanced Scorecard averaged over three years; and

       -       the Company's Total Shareholder Return over a three year period relative to
               the median of a group comprising the Company's five direct peers producing
               Platinum Group Metals.

               The operational targets support the delivery of the company's medium and
               long-term term targets. The methodology of the performance condition is
               explained more fully in the remuneration report in the 2012 annual report.

   -   A Retention Award for 130,302 shares which will vest, subject to continued service,
       in three equal installments on 31 May 2014, 31 May 2015 and 31 May 2016. This
       award utilises the provisions of LR 9.4.2R.

Both the LTIP Award and the Retention Award have been granted to Mr Magara to
compensate him for the loss of various incentives which resulted from his departure from his
previous employer, Anglo American Platinum Limited. Approximately half of these
incentives were not subject to post grant performance conditions and therefore, in the
interests of equity, the Board elected to mirror this arrangement in the Retention Award.

We believe that by using Lonmin shares, rather than cash, to deliver this buyout of Mr
Magara’s Anglo lock-ins we significantly boost his alignment with shareholders’ interests. He
has also agreed to amass a personal shareholding with a value of 3x his salary within 3
years of joining, rather than the 5 years our policy currently targets, to further boost that
alignment.

The value of these incentives was assessed by independent remuneration consultants,
appointed by the Company's Remuneration Committee.


10 July 2013

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

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