Notification to bondholders in respect of conversion price adjustment IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ISIN: ZAE000083648 JSE Convertible Bond Stock Code: IMCB22 JSE Convertible Bond ISIN: ZAE000247458 ADR code: IMPUY (“Implats”) NOTIFICATION TO BONDHOLDERS IN RESPECT OF CONVERSION PRICE ADJUSTMENT IMPALA PLATINUM HOLDINGS LIMITED, ZAR 3,250,000,000 6.375 per cent. Senior Unsecured Convertible Registered Bonds due 2022 (ISIN: ZAE000247458) (the “Bonds”): In accordance with the conditions of the Bonds, Implats hereby gives notice to bondholders that, as a result of the interim dividend declared on 27 February 2020, payable to holders of ordinary shares of Implats on 23 March 2020, the conversion price for the Bonds has been adjusted from ZAR 50.0092 to ZAR 49.4144, effective as of 18 March 2020. Queries: Johan Theron E-mail: johan.theron@implats.co.za T: +27 (0) 11 731 9013/43 M: +27 (0) 82 809 0166 Emma Townshend E-mail : emma.townshend@implats.co.za T : +27 (0) 21 794 8345 M : +27 (0) 82 415 3770 Alice Lourens E-mail: alice.lourens@implats.co.za T: +27 (0) 11 731 9033/43 M: +27 (0) 82 498 3608 18 March 2020 Johannesburg Sponsor to Implats Nedbank Corporate and Investment Banking Date: 18-03-2020 08:00:00 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.