NORTHAM PLATINUM HOLDINGS LIMITED - Northams long-term and short-term credit ratings re-affirmed and outlook upgraded to positive

Northam’s long-term and short-term credit ratings re-affirmed and outlook upgraded to positive

NORTHAM PLATINUM HOLDINGS LIMITED                        NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa             Incorporated in the Republic of South Africa
Registration number: 2020/905346/06                      Registration number: 1977/003282/06
Share code: NPH ISIN: ZAE000298253                       Debt issuer code: NHMI
(“Northam Holdings” or the “group”)                      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: NHM014       Bond ISIN: ZAG000163650
                                                         Bond code: NHM015       Bond ISIN: ZAG000164922
                                                         Bond code: NHM016       Bond ISIN: ZAG000167750
                                                         Bond code: NHM018       Bond ISIN: ZAG000168097
                                                         Bond code: NHM019       Bond ISIN: ZAG000168105
                                                         Bond code: NHM020       Bond ISIN: ZAG000172594
                                                                        (“Northam”)

NORTHAM’S LONG-TERM AND SHORT-TERM CREDIT RATINGS RE-AFFIRMED AND OUTLOOK UPGRADED TO POSITIVE

Northam Holdings and Northam are pleased to advise that the credit rating agency, Global Credit Rating Co. (“GCR”),
has re-affirmed Northam’s national scale long-term credit rating at A(za) and short-term credit rating at A1(za), with the
outlook upgraded from stable to positive.

The upgrade to a positive outlook primarily reflects Northam’s continued ramp-up of lower cost production volumes
amidst favourable commodity prices, translating into robust cash flow generation. Moreover, the positive outlook reflects
the potential for Northam’s credit ratings to be upgraded over the next 24 months, dependant on, inter alia, the
progression of the group’s production towards its medium-term annual target of 1 million ounces 4E.

The GCR announcement in regard to Northam’s credit rating is available from the GCR website at:
https://gcrratings.com/category/announcements/.

Johannesburg
27 October 2021

Corporate Advisor and Sponsor to Northam Holdings
One Capital

Corporate Advisor and Debt Sponsor to Northam
One Capital

Date: 27-10-2021 05:10:00
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