Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
(“Sibanye-Stillwater”)
Website: www.sibanyestillwater.com

Sibanye-Stillwater enters Section 189 consultations regarding the future of the Kloof
4 shaft

Johannesburg, 14 September 2023: Sibanye-Stillwater (JSE: SSW and NYSE: SBSW) advises that
it will enter into consultation in terms of Section 189A of the Labour Relations Act (S189)
with organised labour and other affected stakeholders, regarding the possible restructuring
of its SA gold operations pursuant to ongoing losses over an extended period and operational
constraints at the Kloof 4 shaft.

The initiation of S189 consultations follows numerous unsuccessful attempts to address
productivity issues and other operational constraints at the Kloof 4 shaft, including
seismicity and cooling constraints (associated with the chilled water reticulation circuit),
which together have contributed to sustained losses, even at recent high gold prices. This
has been compounded by the recent incident at Kloof 4 shaft (announced on 1 August 2023),
which caused significant damage to the shaft infrastructure. Together, these factors have
resulted in a severe deterioration in productivity and have jeopardised the financial
viability of the Kloof 4 shaft.

The possible restructuring of the Kloof 4 shaft could potentially affect 2,389 employees
and 581 contractor employees at Kloof 4 shaft. Through the formal S189 consultation process,
the Company and affected stakeholders will together consider measures to avoid and mitigate
possible retrenchments and seek alternatives to the potential cessation or downscaling of
operations and associated services.

“We will engage with all relevant stakeholders in an effort to avoid job losses while
attempting to limit the impact on the remainder of the operations and employees at the SA
gold operations”, said Richard Cox, Executive Vice President and Head of the SA gold
operations.

Ends.

About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio
of operations, projects and investments across five continents. The Group is also one of the
foremost global recyclers of PGM autocatalysts and has interests in leading mine tailings
retreatment operations.

Sibanye-Stillwater has established itself as one of the world’s largest primary producers of
platinum, palladium, and rhodium and is a top tier gold producer. It also produces and refines
iridium and ruthenium, nickel, chrome, copper and cobalt. The Group has recently begun to build
and diversify its asset portfolio into battery metals mining and processing and is increasing
its presence in the circular economy by growing and diversifying its recycling and tailings
reprocessing operations globally. For more information refer to www.sibanyestillwater.com.




                                                                                                1
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the “safe harbour”
provisions of the United States Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this announcement may be forward-looking
statements. Forward-looking statements may be identified by the use of words such as “will”, “would”,
“expect”, “forecast”, “potential”, “may”, “could”, “believe”, “aim”, “anticipate”, “target”,
“estimate” and words of similar meaning.

These forward-looking statements, including, among others, those relating to Sibanye-Stillwater
Limited’s (“Sibanye-Stillwater”) future business prospects, financial positions, production and
operational guidance, climate and ESG-related statements, targets and metrics, business strategies,
plans and objectives of management for future operations and ability to complete or successfully
integrate ongoing and future acquisitions, are necessarily estimates reflecting the best judgement
of Sibanye-Stillwater’s senior management. Readers are cautioned not to place undue reliance on such
statements. Forward-looking statements involve a number of known and unknown risks, uncertainties
and other factors, many of which are difficult to predict and generally beyond the control of
Sibanye-Stillwater that could cause its actual results and outcomes to be materially different from
historical results or from any future results expressed or implied by such forward-looking
statements. As a consequence, these forward-looking statements should be considered in light of
various important factors, including those set forth in Sibanye-Stillwater’s 2022 Integrated Report
and annual report on Form 20-F filed with the United States Securities and Exchange Commission on
24 April 2023 (SEC File no. 333-234096). These forward-looking statements speak only as of the date
of this announcement. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update
or revise any forward- looking statement (except to the extent legally required).




                                                                                                        2