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Condensed reviewed interim financial results for the six months ended 31 December 2023 and cash dividend declaration

Published: 2024-03-01 08:05:53 ET

      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 “company”, together with its         Bond code: NHM015        Bond ISIN: ZAG000164922
          subsidiaries, “Northam” or the “group”)                Bond code: NHM016        Bond ISIN: ZAG000167750
                                                                 Bond code: NHM019        Bond ISIN: ZAG000168105
                                                                 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”)

  CONDENSED REVIEWED INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2023
                              AND CASH DIVIDEND DECLARATION

Shareholders of Northam Holdings (“Shareholders”) are advised that the company has, today, published its condensed
reviewed interim financial results for the six months ended 31 December 2023 (“Interim Results”).

Financial results overview


                                                        Six months ended               Six months ended
                                                                                                                 Variance
                                                        31 December 2023               31 December 2022
  Sales revenue                           R000                    14 994 577                    20 119 026         (25.5%)
  Operating profit                        R000                      2 417 200                    9 066 564         (73.3%)
  Operating profit margin                  %                             16.1                          45.1        (64.3%)
  Earnings per share                      cents                         136.5                       1 596.2        (91.4%)
  Headline earnings per share             cents                         121.4                       1 608.5        (92.5%)
  Dividends per share                     cents                         100.0                               -       100.0%
  EBITDA*                                 R000                      3 170 829                    9 953 810         (68.1%)
  EBITDA margin                            %                             21.1                          49.5        (57.4%)
* Earnings before interest, taxation, depreciation and amortisation, and excluding losses on the sale of the Impala Platinum
Holdings Limited shares

Cash dividend declaration

For the six months ended 31 December 2023, the board of directors (“board”) has resolved to declare and pay an interim
gross cash dividend of 100.0 cents per share (31 December 2022: Nil cents per share and for 30 June 2023: 600.0 cents
per share), which in aggregate amounts to an interim gross cash dividend of approximately R396.2 million. The interim
gross cash dividend has been declared from income reserves.

A dividend withholding tax of 20% will be applicable to Shareholders who are not exempt from, or who do not qualify for, a
reduced rate of dividend withholding tax. Accordingly, for those Shareholders subject to dividend withholding tax at a rate
of 20%, the final net cash dividend will amount to 80.0 cents per share (31 December 2022: Nil cents per share and
30 June 2023: 480.0 cents per share).
The following dates are applicable to the interim dividend:

 Last day to trade (cum dividend), on                                                           Monday, 18 March 2024
 Trading ex-dividend, on                                                                        Tuesday, 19 March 2024
 Record date to determine which Shareholders are eligible to receive the dividend, on             Friday, 22 March 2024
 Payment date of the dividend, on                                                               Monday, 25 March 2024

Shareholders may not dematerialise or rematerialise their Northam Holdings shares between Tuesday, 19 March 2024 and
Friday, 22 March 2024, both days inclusive.

The following additional information is disclosed regarding the interim dividend:

•   Northam Holdings’ issued share capital as at the date of this announcement is 396 238 229 ordinary shares (of which
    1 share is held by Northam Platinum, a subsidiary of Northam Holdings)

•   Northam Holdings’ registration number is 2020/905346/06
•   Northam Holdings’ income tax reference number is 9586451198

About this announcement

This announcement is the responsibility of the board and contains information extracted from the Interim Results.

As the information in this announcement does not provide all of the details, any investment decisions should be based on
the published condensed reviewed interim financial results for the six months ended 31 December 2023 (which incorporates
the external auditor’s report in which PricewaterhouseCoopers Incorporated expressed an unmodified review conclusion)
accessible via the JSE cloudlink at: https://senspdf.jse.co.za/documents/2024/JSE/ISSE/NPHE/Interims24.pdf and on the
company’s website at:
https://www.northam.co.za/component/jdownloads/?task=download.send&id=1545&catid=180&m=0&Itemid=347.


Johannesburg
1 March 2024


           Corporate Advisor and Sponsor to                             Corporate Advisor and Debt Sponsor to
                  Northam Holdings                                                Northam Platinum
                      One Capital                                                    One Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.