ROYAL BAFOKENG PLATINUM LIMITED - RBPlat Concludes Five-Year Wage Agreement

RBPlat Concludes Five-Year Wage Agreement

ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2008/015696/06)
JSE share code: RBP       ISIN: ZAE000149936
Company code: RBPD
Bond code: RBPCB          ISIN: ZAE000243853
(“RBPlat” or “the Company”)

RBPLAT CONCLUDES FIVE-YEAR WAGE AGREEMENT

RBPlat is pleased to announce that it has concluded a further five-year wage
agreement with its permanent employees, represented by the National Union of
Mineworkers (NUM). This agreement, which has been achieved through a
collaborative process exemplified by mutual respect between RBPlat and NUM,
will provide RBPlat with five years of stability. The Company acknowledges
with appreciation to the union the maturity with which these very difficult
negotiations were conducted.

The agreement removes substantial uncertainty for our employees into the
future and allows the Company’s employees to remain focused on safety and
productivity. Both parties are committed to working towards ensuring a
sustainable business that will create long-term value for all our
stakeholders.

The agreement which is effective from 1 July 2019, increases all major
components of remuneration over the next five years, with employees receiving
an increase in their annual salary of 7% in Year 1, 6% in Year 2, 6% in Year
3, 7% in Year 4 and 7% in Year 5.

In recognition of potential entry level minimum wage disparities between
some of our employees and their industry peers, the entry level minimum wage
will increase. Those employees whose remuneration falls below the entry level
minimum wage after the application of the above increases, will receive
upward salary adjustments. Other areas of improvement will be in the medical
aid and housing allowances which will increase in line with repayments of
the homes at our employee housing estate.

Both parties have agreed that a review will be undertaken in Year 3 to ensure
that increases for the remaining two years are in line with the Consumer
Price Index prevailing at that time.

Johannesburg
25 November 2019

JSE Sponsor
Merrill Lynch South Africa (Pty) Ltd

For further information, please contact:
Investor relations:
Lindiwe Montshiwagae
Executive: Investor Relations
Tel: +27 (0)10 590 4510
Email: lindiwe@bafokengplatinum.co.za

Media:
Mpueleng Pooe
Executive: Corporate Affairs
Tel: +27 (0) 10 590 4515
Email: Mpueleng@bafokengplatinum.co.za

Date: 25-11-2019 03:30:00
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