ROYAL BAFOKENG PLATINUM LIMITED - Update on the Force Majeure Declared by Anglo American Platinum Limited

Update on the Force Majeure Declared by Anglo American Platinum Limited

ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
JSE bond code: RBPCB ISIN: ZAE000243853

("RBPlat" or the "Company")

Update on the force majeure declared by Anglo American Platinum Limited
Security holders are referred to the announcement made by RBPlat on the Stock Exchange
News Service on Tuesday, 10 March 2020 in which it notified security holders of the force
majeure event claimed (the event) by Anglo American Platinum Limited (Amplats) under the
Disposal of Concentrate Agreement (DOCA) between Royal Bafokeng Resources Proprietary
Limited (RBR), a wholly owned subsidiary of RBPlat, and Rustenburg Platinum Mines Limited
(RPM), a wholly owned subsidiary of Amplats.

In the notification, Amplats informed that the ACP would be unavailable during repair works
to fix the phase B unit which Amplats anticipated would take approximately 80 days. The
notification also informed that RPM would be unable to comply with its obligations in terms
of the DOCA during this period.

The Board of directors of RBPlat (the Board) hereby notifies security holders that an
arrangement has been agreed to in principle between Amplats, RPM, RBPlat and RBR. In
terms of the arrangement, currently being finalized with Amplats and RPM, RBR has resumed
delivery of its concentrate to RPM and RPM accepts the delivery of the concentrate.
Ownership will pass to RPM on materially the same terms and conditions as the pre-existing
DOCA but with delayed payment terms.

Concentrate that has been delivered to RPM up to RPM’s announcement on 6 March 2020,
will continue to receive payment in accordance with the payment terms of the DOCA with
RPM. From this date, all concentrate deliveries to RPM will be subject to newly agreed
payment terms, where the significant majority of proceeds will continue to be received by
RBPlat in 2020, and all delayed payments must be paid in full before 30 April 2021. As soon
as RPM has notified the Company that the ACP is operational, which is currently estimated
to be approximately 80 days from 6 March 2020, payment terms will revert to the terms
contained in the DOCA.

The Board sees this as an acceptable arrangement during the period of the event and is
pleased with the commitment demonstrated by Amplats and RPM to the partnership with
RBPlat and to mitigate the impact of the claimed force majeure.

Johannesburg

18 March 2020

JSE Sponsor
Merrill Lynch South Africa Proprietary Limited

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

Date: 18-03-2020 01:30:00
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.