Northam disposes of its 7.5% interest in the Pandora joint venture - NHM/NHM002/NHM003 NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Share code: NHM ISIN: ZAE000030912 Debt issuer code: NHMI Bond code: NHM002 Bond ISIN: ZAG000129024 Bond code: NHM003 Bond ISIN: ZAG000129032 (“Northam”) NORTHAM DISPOSES OF ITS 7.5% INTEREST IN THE PANDORA JOINT VENTURE 1. INTRODUCTION Northam is pleased to announce that Mvelaphanda Resources Proprietary Limited (“Mvelaphanda”), a wholly owned subsidiary of Northam, entered into a sale of participation interest agreement with Eastern Platinum Limited (“EPL”), a subsidiary of Lonmin Plc (“Lonmin”) on 13 May 2017 (“Agreement”). In terms of the Agreement Northam, through Mvelaphanda, will dispose of its 7.5% interest in the Pandora joint venture (“Pandora JV”) to EPL (“Transaction”). The consideration payable to Northam under the Transaction amounts to (i) R45,565,000 plus (ii) the amount of any cash calls paid by Northam to the Pandora JV during the period 1 January 2017 to completion of the Transaction, provided that such cash calls do not exceed an amount of R50,000,000, (“Disposal Consideration”). The Disposal Consideration will be settled on fulfilment of the Transaction conditions precedent referred to in paragraph 3 below. 2. BACKGROUND INFORMATION AND RATIONALE The Pandora JV is managed by Lonmin and is currently held 50% by Lonmin, through EPL, 42.5% by Anglo American Platinum Limited, through Rustenburg Platinum Limited, and 7.5% by Northam, through Mvelaphanda. Northam does not consider its minority interest in the Pandora JV as being core to its business. 3. CONDITIONS PRECEDENT The Transaction is subject to, inter alia, all necessary regulatory approvals being obtained, including consent from the Minister of Mineral Resources in terms of section 11 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002, and approval from Lonmin’s lending banks. 4. CATEGORISATION The Transaction falls below the threshold for categorisation in terms of the JSE Limited Listings Requirements and this announcement is provided for information purposes only. Johannesburg 15 May 2017 Corporate Advisor, Sponsor and Debt Sponsor One Capital Attorneys Cliffe Dekker Hofmeyr Inc. Date: 15/05/2017 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.