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 code: ZAE000298253                                 Debt issuer code: NHMI
  (“Northam Holdings” or the “company” or, together with         Bond code: NHM015        Bond ISIN: ZAG000164922
                its subsidiaries, the “group”)                   Bond code: NHM016        Bond ISIN: ZAG000167750
                                                                 Bond code: NHM019        Bond ISIN: ZAG000168105
                                                                 Bond code: NHM020        Bond ISIN: ZAG000172594
                                                                 Bond code: NHM021        Bond ISIN: ZAG000181496
                                                                 Bond code: NHM022        Bond ISIN: ZAG000190133
                                                                 Bond code: NHM023        Bond ISIN: ZAG000190968
                                                                 Bond code: NHM024        Bond ISIN: ZAG000195926
                                                                 Bond code: NHM025        Bond ISIN: ZAG000195934
                                                                 Bond code: NHM026        Bond ISIN: ZAG000195942
                                                                               (“Northam Platinum”)

                                           ACCEPTANCE OF AWARDS

Shareholders are advised of the following acceptances of awards of conditional shares in terms of the Northam Platinum
Share Incentive Plan, 2011 (“SIP”), by directors and the company secretary of the company, as well as a director of a
major subsidiary of the company:

Nature of transactions:                     Acceptance of awards of conditional shares which are subject to
                                            performance conditions in terms of the SIP (“awards”)
Class of securities:                        The awards provide participants with the right to settlement, after the
                                            vesting date, by way of the equivalent rand value of Northam Holdings
                                            shares, determined in accordance with the SIP rules, subject to, inter alia,
                                            the achievement of performance conditions
Vesting date:                               31 October 2025
Transactions completed on market:           No
Clearance obtained in terms of the JSE      Yes
Listings Requirements:



Transaction 1
Name of director of the company:            PA Dunne
Date of acceptance of awards:               26 May 2023
Total number of Northam Holdings
shares covered by the awards:               90 800 performance shares
Strike price and value of transaction:      Rnil
Deemed value of transaction*:               R14 495 312
Nature and extent of interest:              Direct beneficial
Transaction 2
Name of director of the company:             AH Coetzee
Date of acceptance of awards:                26 May 2023
Total number of Northam Holdings
shares covered by the awards:                42 700 performance shares
Strike price and value of transaction:       Rnil
Deemed value of transaction*:                R6 816 628
Nature and extent of interest:               Direct beneficial


Transaction 3
Name of company secretary of the             PB Beale
company:
Date of acceptance of awards:                26 May 2023
Total number of Northam Holdings
shares covered by the awards:                22 200 performance shares
Strike price and value of transaction:       Rnil
Deemed value of transaction*:                R3 544 008
Nature and extent of interest:               Direct beneficial


Transaction 4
Name of director of a major subsidiary of    LC van Schalkwyk
the company:
Name of major subsidiary:                    Booysendal Platinum Proprietary Limited
Date of acceptance of awards:                26 May 2023
Total number of Northam Holdings
shares covered by the awards:                33 100 performance shares
Strike price and value of transaction:       Rnil
Deemed value of transaction*:                R5 284 084
Nature and extent of interest:               Direct beneficial


*The deemed value of the transaction is illustrative and based on all relevant performance shares awarded (priced at
the Northam Holdings share price of R159.64 on 25 May 2023). For the avoidance of doubt, the final number of
performance shares that will vest, after the vesting date, remains subject to, inter alia, the achievement of performance
conditions.


Johannesburg
29 May 2023
Corporate Advisor and Sponsor to Northam Holdings   Attorneys to Northam Holdings and Northam Platinum
                    One Capital                                        Webber Wentzel




                       Corporate Advisor and Debt Sponsor to Northam Platinum
                                             One Capital