Listing of 2022 Convertible Bonds - IMP/IMCB22 IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ISIN: ZAE000083648 ADR code: IMPUY (“Imlats”) JSE 2022 Convertible Bonds JSE Stock Code: IMCB22 ISIN: ZAE000247458 (“IMPL CB22”) ANNOUNCEMENT RELATING TO THE LISTING AND TRADING OF THE 2022 CONVERTIBLE BONDS ON THE MAIN BOARD OF THE JSE LIMITED Bondholders and shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Limited (“JSE”) on Friday, 26 May 2017 relating to the final terms of the 2022 Convertible Bond Offerings. As set out in that announcement, the 2022 Convertible Bonds remained subject to approval by shareholders of Implats to convert the 2022 Convertible Bonds into ordinary shares of Implats in accordance with, and subject to, the terms and conditions of the 2022 Convertible Bonds. Implats shareholders approved the conversion at a general meeting of shareholders held on Monday, 24 July 2017. Accordingly, an application for admission to trading of the ZAR Bonds on the Main Board was made to the JSE. This application was formally approved by the JSE on Thursday, 27 July 2017. The document setting out the full details of the ZAR Bonds ("Listing Document") is available for inspection on the Implats website (www.implats.co.za) and at the registered office of Implats, being 2 Fricker Road, Illovo, Gauteng, South Africa. The last day to trade the ZAR Bonds in their unlisted form (under Bond Code: UIMPU, ISIN: ZAU000015349) will be Friday, 28 July 2017. The first date to trade the ZAR Bonds on the JSE`s equity trading platform (under Stock Code: IMCB22, ISIN: ZAE000247458) will be Monday, 31 July 2017. To the extent that, as contemplated in the Listing Document, Implats creates and issues further notes, bonds or debentures having the same terms and conditions in all respects as the outstanding notes, bonds or debentures of any series (including the 2022 Convertible Bonds), any such issuance and associated documentation will be executed in compliance with the JSE Debt Listings Requirements (if the relevant bonds are listed) and no further issues will be made under the Listing Document. Johannesburg 28 July 2017 Debt Sponsor The Standard Bank of South Africa Limited Sponsor Deutsche Securities (SA) Proprietary Limited Date: 28/07/2017 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.