Northam completes a R2.65bn restructuring of its domestic medium term note programme, including R411m of new funding NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Share code: NHM ISIN: ZAE000030912 Debt issuer code: NHMI Bond code: NHM002 Bond ISIN: ZAG000129024 Bond code: NHM006 Bond ISIN: ZAG000158577 Bond code: NHM007 Bond ISIN: ZAG000158593 Bond code: NHM009 Bond ISIN: ZAG000158866 Bond code: NHM011 Bond ISIN: ZAG000159237 Bond code: NHM012 Bond ISIN: ZAG000160136 Bond code: NHM013 Bond ISIN: ZAG000162181 Bond code: NHM014 Bond ISIN: ZAG000163650 Bond code: NHM015 Bond ISIN: ZAG000164922 Bond code: NHM016 Bond ISIN: ZAG000167750 Bond code: NHM017 Bond ISIN: ZAG000167891 Bond code: NHM018 Bond ISIN: ZAG000168097 Bond code: NHM019 Bond ISIN: ZAG000168105 (“Northam”) NORTHAM COMPLETES A R2.65 BILLION RESTRUCTURING OF ITS DOMESTIC MEDIUM TERM NOTE PROGRAMME, INCLUDING R411 MILLION OF NEW FUNDING Northam shareholders and noteholders are referred to the announcement published by Northam on SENS on 11 May 2020 pertaining to a R2.166 billion restructuring of Northam’s R10 billion Domestic Medium Term Note Programme (dated 3 August 2012, as amended and / or supplemented from time to time) (“Programme”), comprising a c.R1.885 billion note switch into longer term maturities and c.R281 million of new funding. Northam is pleased to announce that it has reached agreement with additional noteholders to participate in a note switch to extend the maturity dates of certain domestic medium term notes (“Notes”) with an aggregate nominal amount of R350 million, through the purchase and cancellation of such Notes and the simultaneous issue of new Notes with longer term maturities, for the same nominal amount and to the same noteholders (“Additional Note Switch”). Upon implementation, this will result in a total Note switch of c.R2.235 billion. Furthermore, certain noteholders will provide new funding by subscribing for additional new Notes with an aggregate nominal amount of R130 million (“Additional New Funding”), resulting in a total of c.R411 million of new funding raised during this process. The Additional Note Switch and the accompanying Additional New Funding completes the restructuring of the maturities and fund raising which Northam set out to achieve in order to preserve its medium term liquidity in the current global economic climate following the onset of the COVID-19 pandemic. The Notes to be purchased and cancelled as part of the Additional Note Switch are issued under bond code series NHM009 (R50 million) and NHM014 (R300 million). The new Notes to be issued as part of the Additional Note Switch and Additional New Funding will be placed as a new tranche under each of the NHM016 (R130 million) and NHM018 (R350 million) series and will be issued on the same terms applicable to such series. The NHM016 and NHM018 series have a maturity date of 11 May 2025 and 25 May 2023, respectively, and a floating interest rate of 3 month ZAR-JIBAR plus 4.25% and 3.75%, respectively, with interest payable quarterly. The following table summarises the impact of the total Note switch and the total new funding on the maturity profile of the Notes under the Programme, in respect of Northam’s financial years ending 30 June. Values represent the change in the nominal amount of Note maturities for each financial year. Change in maturity 2020 2021 2022 2023 2024 2025 Total value in each financial R’m R’m R’m R’m R’m R’m R’m year Total Note switch: (35) (c.795) (c.1 405) - - - (c.2 235) Notes purchased and cancelled Total Note switch: - c.495 - c.921 250 c.569 c.2 235 Notes issued Total new funding: - - - 100 200 c.111 c.411 Notes issued Net change in the (35) (c.300) (c.1 405) c.1 021 450 680 c.411 nominal amount of maturities Further information pertaining to the Additional Note Switch and the Additional New Funding will be announced upon implementation. Paul Dunne, Northam’s Chief Executive Officer said “Northam is pleased to have successfully completed its R2.65 billion restructuring of its DMTN Programme. This will assist significantly in preserving and strengthening Northam’s liquidity position during the ongoing COVID-19 pandemic. Northam is also pleased to have attracted more than R400 million of additional new long-term funding during the lockdown period. We believe the company is well placed to weather the ongoing COVID-19 challenges and we remain appreciative of the support of our investors.” Johannesburg 25 May 2020 Corporate Advisor and JSE Sponsor to Northam One Capital Sole Arranger, Dealer and Debt Sponsor to Northam in respect of the Notes One Capital Attorneys to Northam Cliffe Dekker Hofmeyr Inc. Legal Advisors to Northam, the Arranger and the Dealer in respect of the Notes Bowman Gilfillan Inc. Date: 25-05-2020 07:05:00 Produced by the JSE SENS Department. 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