Competition Tribunal Approval Obtained for the Acquisition by RBPlat of Maseve Investments 11 (Pty) Ltd ROYAL BAFOKENG PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2008/015696/06) JSE share code: RBP ISIN: ZAE000149936 (“RBPlat” or the “Company”) COMPETITION TRIBUNAL APPROVAL OBTAINED FOR THE ACQUISITION BY RBPLAT OF MASEVE INVESTMENTS 11 (PTY) LTD Shareholders are referred to the announcement released by the Company on SENS on 6 September 2017, together with the circular posted to shareholders on 2 November 2017 and subsequent announcement dated 23 November 2017, in terms of which RBPlat advised shareholders that it had concluded agreements with Platinum Group Metals (RSA) Proprietary Limited (“PTM (RSA)”), pursuant to which RBPlat will, subject to the fulfilment or, where possible, waiver, of certain conditions precedent, acquire – (i) the concentrator plant and certain surface assets of Maseve Investments 11 Proprietary Limited (“Maseve”) for an aggregate consideration equal to the ZAR equivalent of USD58 million (the “Plant Transaction”); and (ii) 100% of the shares in and shareholder claims owing by Maseve for an aggregate consideration equal to the ZAR equivalent of USD12 million. The board of directors of RBPlat is pleased to advise shareholders that one of the key conditions precedent to the Plant Transaction, being approval by the South African Competition Tribunal, has now been obtained, subject to conditions that are acceptable to the parties. The parties continue to work together in fulfilment of the remaining conditions precedent. Johannesburg 17 January 2018 Corporate advisor and transaction sponsor Questco (Pty) Ltd Competition law advisor Bowmans 1 JSE sponsor Merrill Lynch South Africa (Pty) Ltd For further information, please contact: Lindiwe Montshiwagae Executive: Investor Relations Tel: +27 (0)10 590 4517 Email: lindiwe@bafokengplatinum.co.za 2 Date: 17/01/2018 09:00:00 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.