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Valterra Platinum trading statement for the six months ended 30 June 2026
Trading Statement
Valterra Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
JSE Share Code: VAL
LSE Share Code: VALT
JSE Debt Issuer Coder: VALI
ISIN: ZAE000013181
("The Company" or "Valterra Platinum")
17 July 2026
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Valterra Platinum trading statement for the six months ended 30 June 2026
Shareholders are advised that Valterra Platinum intends to release its results for the six months ended 30 June 2026 ("the
period") on the Johannesburg Stock Exchange (JSE) News Service and the London Stock Exchange (LSE) Regulatory News
Services on 29 July 2026.
In accordance with section 6.26(a) of the Listings Requirements of the JSE Limited, shareholders are advised that the
financial results for the six months ended 30 June 2026 are expected to be significantly higher than the financial results of
the previous corresponding period as follows:
• headline earnings and headline earnings per share ("HEPS") for the period are expected to increase by more than
1388%. Headline earnings is expected to be between R18.5 billion and R22.2 billion (R1.2bn on 30 June 2025 (the
"prior period")) and HEPS is expected to be between 7047 cents per share and 8456 cents per share (473 cents per
share in the prior period); and
• basic earnings and earnings per share ("EPS") for the period are expected to increase by more than 3076%. Basic
earnings is expected to be between R18.6 billion and R22.3 billion (R0.6 billion in the prior period) and EPS is
expected to be between 7085 cents per share and 8494 cents per share (223 cents per share in the prior period).
Earnings increased during the period, supported by a combination of an 18% increase in PGM sales volumes and
significantly stronger PGM prices. The PGM dollar basket price increased by 85% to $2801 per PGM ounce, which translated
into a 66% increase in the PGM rand basket price to R45993 per PGM ounce. The uplift in volumes was driven by higher M&C
output following the flooding related disruptions at Amandelbult in the first half of 2025. In addition, the proactive
rescheduling of planned maintenance activities and annual stock counts to the third quarter of 2026 facilitated a more even
distribution of refined production throughout the year, further supporting sales volumes.
Taxation and royalties increased in line with increased earnings.
The financial information contained in this announcement has not been reviewed or reported on by the Company's
auditors.
JSE equity sponsor:
Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities
JSE debt sponsor:
The Standard Bank of South Africa Limited
For further information, please contact:
Company Secretary
Fiona Edmundson
fiona.edmundson@valterraplatinum.com
Investors:
Leroy Mnguni
leroy.mnguni@valterraplatinum.com
Marcela Grochowina
marcela.grochowina@valterraplatinum.com
Media:
Cindy Maneveld
cindy.maneveld@valterraplatinum.com
About Valterra Platinum
Valterra Platinum is one of the world's leading integrated producers of platinum group metals (PGMs) with a primary listing
on the Johannesburg Stock Exchange and a secondary listing on the London Stock Exchange. We operate world class, long-
life mines and the industry's most efficient processing assets, responsibly mining, smelting, and refining PGMs and
associated co-products from operations located in South Africa and Zimbabwe. With integrated marketing hubs in London,
Singapore and Shanghai, we deliver tailored solutions for our customers. We continue to integrate sustainability into
everything we do, invest in our mining and processing capabilities and advance market development initiatives to grow and
commercialise new demand segments. We make a meaningful impact in the communities where we operate and remain
committed to delivering consistent and superior returns to shareholders. Guided by our purpose of unearthing value to
better our world, we are committed to zero harm, disciplined capital allocation and delivery on our value-accretive strategic
priorities.
Date: 17-07-2026 08:05:00
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