IMPALA PLATINUM HOLDINGS LIMITED - Conversion of all outstanding U.S.$250,000,000 3.25 per cent. Convertible bonds due 2022

Conversion of all outstanding U.S.$250,000,000 3.25 per cent. Convertible bonds due 2022

 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
 JSE 2022 Convertible Bond ISIN: ZAE000247458
 JSE 2022 Convertible Bond Code: IMCB22
 FSE 2022 Convertible Bond ISIN: XS1623614572
 FSE 2022 Convertible Bond Code: 162361457
 (“Implats”)

 CONVERSION OF ALL OUTSTANDING U.S.$250,000,000 3.25 PER CENT. CONVERTIBLE
 BONDS DUE 2022

 Implats announces that on 13 August 2019, it received a conversion notice from the holder of the
 last of the outstanding U.S.$250,000,000 3.25 per cent. convertible bonds due 2022 (the
 "Bonds") to exercise its Conversion Rights as defined in, and in accordance with, the terms and
 conditions of the Bonds (the "Conditions") to convert the Bond into ordinary shares in Implats
 (the "Ordinary Shares").

 On 14 August 2019, the conversion took place and 51,404 new Ordinary Shares will be issued in
 respect of the conversion of this Bond, and admitted to trading on the Main Board of the
 Johannesburg Stock Exchange's Equity Market on 27 August 2019.

 The newly issued Ordinary Shares rank pari passu in all respects with the existing Ordinary
 Shares. Following the issue of the new Ordinary Shares, Implats’ enlarged issued share capital
 comprises 799,034,147 Ordinary Shares. As at the date hereof, Implats holds 16,233,994
 Ordinary Shares in treasury.

 As a result of this conversion, all of the Bonds originally issued have been converted into Ordinary
 Shares and no longer remain outstanding.

 21 August 2019

Sponsor
Nedbank Corporate and Investment Banking

Date: 21/08/2019 12:35:00
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