WESIZWE PLATINUM LIMITED - Condensed Unreviewed Consolidated Interim Financial Statements for the six months ended 30 June 2025

Condensed Unreviewed Consolidated Interim Financial Statements for the six months ended 30 June 2025

WESIZWE PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/020161/06)
Share code: WEZ
ISIN: ZAE000075859
("Wesizwe" or the "Company" or the "Group")


CONDENSED UNREVIEWED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 JUNE 2025


 1.       SALIENT FEATURES

      •      Administration expenditure decreased by 63% to R13 065 million, from R35 054
             million in the prior corresponding period.

      •      Net foreign exchange gains of R1 324 million due to the strengthening of the Rand
             against the US Dollar (2024: R170 million).


      •      Direct investment in property, plant and equipment decreased by 4% to R478
             million from R496 million in 2024.


      •      Headline earnings per share and earnings per share increased by 4.32 cents to
             13.20 cents per share (2024: headline earnings of 8.88 cents per share, restated).

      •      The board of directors, after careful consideration, has elected to not declare a
             dividend for the period ended 30 June 2025 (2024: nil).


 2.       RESTATEMENT OF PREVIOUSLY PUBLISHED INTERIM FINANCIAL RESULTS

          Shareholders are advised that the Company has restated its previously published
          condensed consolidated interim financial statements for the period ended 30 June
          2024.

          The restatement arises from an error identified in the measurement of the mine
          closure and rehabilitation provision in that, an inflation-linked bond yield was
          incorrectly applied in discounting the estimated future rehabilitation cash flows,
          whereas a fixed-rate bond yield should have been used.

          Management acknowledges that the impact of this restatement is below the
          materiality threshold; however, the adjustment has been made in the interest of
          prudence.

          Full details of the restatement are included in Note 20 of the interim financial
          statements released on SENS and available on the Company's website.


 3.       OUTLOOK

          Following the cyber-attack which had a significant impact on the availability of
          Groups' financial reporting systems, an independent firm was engaged to recover
          lost data, and an interim accounting software solution was implemented.

          Furthermore, the Group undertook a re-audit of the 2024 annual financial statements
          to address the external auditor's disclaimers, the re audit process is nearing
          completion, with no material differences identified to date. This progress supports the
          Group's continued commitment to strengthen the integrity and reliability of its financial
          reporting.

          In the interest of further enhancing internal controls, the Board has approved the
          implementation of SAP S/4 Hana ERP system, with the project on track for go-live at
          the beginning of June 2026.

          The Group remains on schedule to publish the audited annual financial statements
          for the year ended 31 December 2025, by no later than 30 April 2026 in accordance
          with original audit plan. Upon completion of the audit, the Group will proceed with the
          necessary steps to apply for the lifting of the suspension of trading in its shares.

          In light of the restatement, the Board has advised management to regularly attend
          IFRS refresher training to further strengthen financial reporting expertise going
          forward.

4.        SHORT-FORM ANNOUNCEMENT

          This short-form announcement is the responsibility of the directors of the Company.
          It contains only a summary of the information in the condensed unreviewed
          consolidated interim financial statements for the six months ended 30 June 2025
          ("Full Announcement") and does not contain full or complete details. The Full
          Announcement can be found at:

          https://senspdf.jse.co.za/documents/2026/JSE/ISSE/WEZ/IntWEZ26.pdf

          A copy of the Full Announcement is also available for viewing on the Company's
          website at:
          https://wesizwe.co.za/wp-content/uploads/2026/03/wesizwe-interims-june-2025.pdf

          Any investment decisions by investors and/or shareholders should be based on
          consideration of the Full Announcement as a whole.

          The interim results have not been reviewed or audited by the Company's auditor.


          Johannesburg
          31 March 2026

          Sponsor
          PSG Capital

Date: 31-03-2026 11:05:00
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