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” or the “Group” or the “Company”)
Website: www.sibanyestillwater.com

Update on wage negotiations at the SA PGM Rustenburg and Marikana operations
Johannesburg, 30 September 2022. Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW)
advises stakeholders that agreement in respect of wages and benefits has been reached
with two of the three recognised unions at its SA PGM operations, the National Union
of Mineworkers (NUM) and UASA. Disappointingly, leadership of the Association of
Mineworkers and Construction Union (AMCU) has declared a dispute which has been referred
to the Commission for Conciliation, Mediation and Arbitration (CCMA) for conciliation.

At the outset of wage negotiations, all parties agreed to engage in a constructive
manner in the interest of reaching an efficient and fair conclusion. To this end,
Sibanye-Stillwater has engaged in good faith in order to avoid protracted positional
bargaining in the best interests of employees.

The company has presented an inflation linked, five-year offer comprising fixed average
annual wage increases of 6% and above for bargaining unit employees for a three-year
period, followed by CPI-linked agreements in years 4 and 5, as well as notable increases
in benefits.

Basic wages for entry level employees have increased on average by over 90% since 2013,
compared with a compound increase in CPI of approximately 45% over the period. The
current offer will result in further meaningful gains for employees, with entry level
employees on average achieving a basic wage of over R20,000 per month and a total cost
to company* of over R34,000 per month by year five, or a basic wage of approximately
R250,000 per annum and an annual average total cost to company of approximately R410,000.

Says Richard Stewart, Chief Regional Officer: Southern Africa: “We remain committed to
achieving a fair and sustainable agreement and avoiding prolonged negotiations as agreed
upfront with the unions. It is concerning that despite overwhelming support for the
offer by employees and union representatives at the operations, AMCU national leadership
has again chosen to ignore their members. We will continue to act in the interest of
all stakeholders.”

About Sibanye-Stillwater

Sibanye-Stillwater is a multinational mining and metals Group with a diverse portfolio of mining
and processing operations and projects and investments across five continents. The Group is also
one of the foremost global PGM autocatalytic recyclers and has interests in leading mine tailings
retreatment operations. For more information, visit our website at www.sibanyestillwater.com

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
YouTube: www.youtube.com/channel/UCl9UZT87nncSvSvJ8i7az8Q

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, 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 2021 Integrated
Annual Report and annual report on Form 20-F filed with the United States Securities and Exchange Commission
on 22 April 2022 (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). Any forecast financial information
contained in the aforementioned presentation has not been reviewed or reported on by the Company’s external
auditors.