NORTHAM PLATINUM LIMITED - Availability of annual financial statements of the company NHMI

Availability of annual financial statements of the company – NHMI

NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number: 1977/003282/06
JSE debt issuer code: NHMI
Bond code: NHM015       Bond ISIN: ZAG000164922
Bond code: NHM016       Bond ISIN: ZAG000167750
Bond code: NHM021       Bond ISIN: ZAG000181496
Bond code: NHM022       Bond ISIN: ZAG000190133
Bond code: NHM023       Bond ISIN: ZAG000190968
Bond code: NHM025       Bond ISIN: ZAG000195934
Bond code: NHM026       Bond ISIN: ZAG000195942
("Northam" or the "company")

AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS OF THE COMPANY – NHMI

Northam bondholders are hereby advised that the Northam consolidated and separate annual financial statements for
the year ended 30 June 2024 ("2024 AFS"), which incorporate the independent auditor's unmodified audit report thereon
issued     by     PricewaterhouseCoopers    Incorporated,     are    available    on    Northam's       website     at
https://www.northam.co.za/downloads?task=download.send&id=1569 and available for inspection, during office hours,
at the registered office of the company.

Bondholders are further advised that certain comparative information for the years ended 30 June 2022 ("2022 AFS"),
and therefore the opening balance as at 1 July 2022, together with 30 June 2023 ("2023 AFS"), contained in the
consolidated 2024 AFS, has been restated ("Restatements"). The Restatements relate to following:

1. The 2022 AFS did not include the Zambezi Trusts' (being the Northam Zondereinde Community Trust, Northam
   Booysendal Community Trust and Northam Employees' Trust) investment held in Northam Platinum Holdings
   Limited, which investments meets the definition of a financial asset in accordance with IFRS 9 Financial Instruments.
   Although the investment in restricted to the benefit of the beneficiaries of the Zambezi Trusts, Northam is required
   to account for the investment at a consolidated level. In line with group's accounting policy, the movement in the
   investment held at fair value is recognised through other comprehensive income in the statement of profit or loss
   and other comprehensive income.

2. The Composite Transaction (the acceleration of the maturity and winding up of the broad-based black economic
   empowerment transaction concluded with Zambezi Platinum (RF) Limited ("Zambezi") in 2015), which comprised
   of 10 separate but indivisible steps, with the ultimate objective of unwinding the Zambezi structure. One of the last
   steps to be implemented entails Northam repurchasing 40 975 772 Northam shares held by Zambezi, which will
   allow Zambezi to redeem the Zambezi preference shares in issue to Northam. Zambezi's disposal of its Northam
   shares will attract capital gains tax, which was not previously recognised as a liability. Accordingly, similar to other
   taxes relating to the Composite Transaction, the deferred tax effect on the redemption of the Zambezi preference
   shares is recorded directly in equity.

Bondholders are referred to notes 14 and 25 of the 2024 AFS for further details pertaining to the Restatements.


Johannesburg
30 August 2024

Corporate Advisor and Debt Sponsor
One Capital

Date: 30-08-2024 07:06:00
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