Dealing in securities by a director 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” or “the Company”) DEALING IN SECURITIES BY A DIRECTOR In compliance with paragraphs 3.63 to 3.65 of the JSE Limited Listings Requirements, notice is hereby given of the following dealings by a director of Implats, after having received clearance to do so in terms of paragraph 3.66 of the JSE Limited Listings Requirements. These transactions relate to the vesting of the third and final tranche of the once-off notional share award granted to Mr Muller on his appointment as Chief Executive Officer (CEO) in April 2017. The award vested on the anniversary of his appointment in tranches of 50% (in 2018) and 25% each in April 2019 and April 2020. Proceeds of the award have been utilised by the CEO to increase his holdings under the Minimum Shareholding Requirement (MSR) policy of the Company. Additional details of Implats' approach to managing performance through remuneration can be found in the Annual Integrated Report. Name: NJ Muller Director: Impala Platinum Holdings Limited Nature of interest: Direct Beneficial Date of transaction: 1 April 2020 Class of shares: Notional shares Nature of transaction: Off market vesting of cash-settled notional shares 5-day VWAP on vesting: R79.5600 Number of notional shares: 112 537 Settlement value: R8 953 443.72 Date of transaction: 2 April 2020 Class of shares: Ordinary shares Nature of transaction: On market purchase of ordinary shares, to be held in terms of Minimum Shareholding Requirement (MSR) Average p price per share: R71.0867 Highest price per share R73.0000 Lowest price per share R70.2500 Number of ordinary shares: 68 748 Transaction value (excluding fees): R4 887 068.45 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 6 April 2020 Johannesburg Sponsor to Implats Nedbank Corporate and Investment Banking Date: 06-04-2020 11:58:00 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.