Implementation of a Zimbabwean export levy on unbeneficiated PGM revenue IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ADR code: IMPUY ISIN: ZAE000083648 Convertible Bond JSE Bond Code: IMPCB ISIN: ZAE000175873 (“Implats” or “the Group”) NOTICE TO SHAREHOLDERS IMPLEMENTATION OF A ZIMBABWEAN EXPORT LEVY ON UNBENEFICIATED PGM REVENUE Implats wishes to inform shareholders that a 15% export levy on unbeneficiated platinum group metal (PGM) revenue in Zimbabwe became effective from 1 January 2015, as per the Finance Act (No. 3), 2014 (Act 11 of 2014). As previously announced, in 2013 the Government of Zimbabwe proposed an export levy on unbeneficiated platinum, with a view to encouraging platinum mining companies to invest in smelting and refining capacity in Zimbabwe. This export levy was deferred to take effect from 1 January 2015. In the 2015 National Budget statement made in December 2014, the Minister of Finance announced that the Government had deferred the export tax on un- beneficiated platinum until 1 January 2017. However, the recently promulgated 2015 Finance Bill does not provide for the deferral of the levy. It is not clear whether the export levy will be formally enforced and the Group, in consultation with the Chamber of Mines in Zimbabwe, is presently seeking clarity from the authorities. Implats and its Zimbabwean operations remain committed to securing a conducive regulatory and fiscal framework for the mining industry in Zimbabwe. It should be noted that the Group’s Zimplats operation does not export unbeneficiated platinum concentrate, and as a consequence will not be impacted by this levy. Implats is not in a position to provide further details due to the sensitive and confidential nature of these engagements. Further developments will be communicated in due course. Queries: Johan Theron Alice Lourens E-mail: johan.theron@implats.co.za E-mail: alice.lourens@implats.co.za T: +27 (0) 11 731 9013/43 T: +27 (0) 11 731 9033/43 M: +27 (0) 82 809 0166 M: +27 (0) 82 498 3608 30 January 2015 Johannesburg Sponsor to Implats Deutsche Securities (SA) Proprietary Limited Date: 30/01/2015 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.