NORTHAM PLATINUM LIMITED - Trading statement

Trading statement

NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1977/003282/06)
JSE share code: NHM ISIN code: ZAE000030912
Debt issuer code: NHMI ISIN code: ZAG000099524
(“Northam” or the “Group” or the “Company”)

TRADING STATEMENT

Northam’s R6.6 billion black economic empowerment (BEE) equity transaction (BEE Transaction),
which raised the Company’s empowerment levels to 35.4% secured for 10 years, and incorporated an
equity injection, was the single most important development for the Company in the financial year
ended 30 June 2015.

As is customary with transactions of this nature, certain once-off charges were incurred during the
year, including a “share based payment” charge in terms of International Financial Reporting
Standards 2 (IFRS). In combination, these expenses have had an impact on the income statement,
resulting in the Company anticipating reporting a net loss for the period under review.

The anticipated loss is not a reflection of the performance of the Group’s operating assets, all of which
performed satisfactorily during the year. The Booysendal mine is continuing to ramp up to full
production and has contributed positively to the Group’s results for the year ended 30 June 2015.

Non-recurring transaction costs

Shareholders were advised in the BEE Transaction circular dated 17 February 2015 (Transaction
Circular) that the BEE Transaction would attract an adverse initial IFRS share-based payment charge
(BEE IFRS Charge), as illustrated in the pro forma financial effects of the Transaction Circular. The
BEE IFRS Charge is non-recurring and will be fully accounted for in the Group’s results for the year
ended 30 June 2015.

The BEE Transaction also included a R400 million once-off lock-in and restraint payment (Lock-in and
Restraint Payment) for Northam’s BEE partners, represented by Zambezi Platinum (RF) Limited, in
respect of the 10 year BEE period. The Lock-in and Restraint Payment is a non-recurring expense
and will be fully accounted for in the Group’s results for the year ended 30 June 2015.

Other sundry non-recurring BEE Transaction implementation costs and impairments of non-core
assets will also be accounted for in the Group’s results for the year ended 30 June 2015.

Details of anticipated results:

    -   the Group’s loss per share for the year ended 30 June 2015 is estimated to range between a
        loss of 264.06 cents per share and 265.54 cents per share, compared to the earnings of 2.4
        cents per share reported for the year ended 30 June 2014, reflecting a decrease of between
        11 103% and 11 123%, respectively; and
    -   the Group’s headline loss per share for the year ended 30 June 2015 is estimated to range
        between a loss of 202.7 cents per share and 203.1 cents per share, compared to the headline
        earnings of 2.2 cents per share reported for the year ended 30 June 2014, reflecting a
        decrease of between 9 313% and 9 333%, respectively.

The weighted average number of shares in issue for the year ended 30 June 2015 increased to
391 834 708, compared to 390 969 652 shares for the year ended 30 June 2014. As part of the BEE
Transaction, Northam issued 112 195 122 additional shares resulting in 509 781 212 shares in issue
at 30 June 2015. Of these shares, 159 905 453 are treasury shares which are not accounted for in the
above loss and headline loss per share calculation.

The information contained in this trading statement has not been reviewed or reported on by the
Group’s auditors.

It is anticipated that the reviewed preliminary results for the year ended 30 June 2015 will be released
on or about 20 August 2015.


Johannesburg
17 August 2015

Sponsor and Debt Sponsor
One Capital

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