Sibanye Stillwater Limited (JSE:SSW) News - Sibanye-Stillwater’s response to Appian Capital public statements

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

Sibanye-Stillwater’s response to Appian Capital public statements

Johannesburg, 2 March 2022: Sibanye-Stillwater, (Tickers JSE: SSW and
NYSE: SBSW) in compliance with paragraphs 3.63 to 3.74 of the JSE
Limited Listings Requirements, discloses the following:

We understand that Appian has made public statements concerning the
Santa Rita termination that we announced to the market on 24 January
2022, in an apparent effort to disrupt the announcement of our results,
and to engage in litigation via the media.

We reject both Appian’s apparent strategy, and the substance of its
comments. Its public characterisation of the geotechnical event
experienced at Santa Rita is both superficial and wrong.

As Appian is aware, disputes arising from recent events are to be
resolved by the English High Court. If Appian decides to commence
proceedings, we shall vigorously defend our position and are confident
that we will prevail.

In the meantime, we do not intend to comment publicly each time Appian
attempts to disrupt the public or market perception of Sibanye-
Stillwater.

Ends.

Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
Forward looking statements
The information in this document may contain forward-looking statements within
the meaning of the “safe harbour” provisions of the United States Private
Securities Litigation Reform Act of 1995. These forward-looking statements,
including, among others, those relating to Sibanye Stillwater Limited’s
(“Sibanye-Stillwater” or the “Group”) financial positions, business strategies,
plans and objectives of management for future operations, are necessarily
estimates reflecting the best judgment of the senior management and directors
of Sibanye-Stillwater and involve a number of risks and uncertainties that
could cause actual results to differ materially from those suggested by the
forward-looking statements. As a consequence, these forward-looking statements
should be considered in light of various important factors, including those set
forth in this report.
All statements other than statements of historical facts included in this
report may be forward-looking statements. Forward-looking statements also often
use words such as “will”, “forecast”, “potential”, “estimate”, “expect”,
“plan”, “anticipate” and words of similar meaning. By their nature, forward-
looking statements involve risk and uncertainty because they relate to future
events and circumstances and should be considered in light of various important
factors, including those set forth in this disclaimer. Readers are cautioned
not to place undue reliance on such statements.
The important factors that could cause Sibanye-Stillwater’s actual results,
performance or achievements to differ materially from estimates or projections
contained in the forward-looking statements include, without limitation,
Sibanye-Stillwater’s future financial position, plans, strategies, objectives,
capital expenditures, projected costs and anticipated cost savings, financing
plans, debt position and ability to reduce debt leverage; economic, business,
political and social conditions in South Africa, Zimbabwe, the United States
and elsewhere; plans and objectives of management for future operations;
Sibanye-Stillwater’s ability to obtain the benefits of any streaming
arrangements or pipeline financing; the ability of Sibanye-Stillwater to comply
with loan and other covenants and restrictions and difficulties in obtaining
additional financing or refinancing; Sibanye-Stillwater’s ability to service
its bond instruments; changes in assumptions underlying Sibanye-Stillwater’s
estimation of its current mineral reserves; any failure of a tailings storage
facility; the ability to achieve anticipated efficiencies and other cost
savings in connection with, and the ability to successfully integrate, past,
ongoing and future acquisitions, as well as at existing operations; the ability
of Sibanye-Stillwater to complete any ongoing or future acquisitions; the
success of Sibanye-Stillwater’s business strategy and exploration and
development activities; the ability of Sibanye-Stillwater to comply with
requirements that it operate in ways that provide progressive benefits to
affected communities; changes in the market price of gold and PGMs; the
occurrence of hazards associated with underground and surface mining; any
further downgrade of South Africa’s credit rating; a challenge regarding the
title to any of Sibanye-Stillwater’s properties by claimants to land under
restitution and other legislation; Sibanye-Stillwater’s ability to implement
its strategy and any changes thereto; the occurrence of labour disruptions and
industrial actions; the availability, terms and deployment of capital or
credit; changes in the imposition of regulatory costs and relevant government
regulations, particularly environmental, tax, health and safety regulations and
new legislation affecting water, mining, mineral rights and business ownership,
including any interpretation thereof which may be subject to dispute; the
outcome and consequence of any potential or pending litigation or regulatory
proceedings or environmental, health or safety issues; the concentration of all
final refining activity and a large portion of Sibanye-Stillwater’s PGM sales
from mine production in the United States with one entity; the identification
of a material weakness in disclosure and internal controls over financial
reporting; the effect of US tax reform legislation on Sibanye-Stillwater and
its subsidiaries; the effect of South African Exchange Control Regulations on
Sibanye-Stillwater’s financial flexibility; operating in new geographies and
regulatory environments where Sibanye-Stillwater has no previous experience;
power disruptions, constraints and cost increases; supply chain shortages and
increases in the price of production inputs; the regional concentration of
Sibanye-Stillwater’s operations; fluctuations in exchange rates, currency
devaluations, inflation and other macro-economic monetary policies; the
occurrence of temporary stoppages of mines for safety incidents and unplanned
maintenance; Sibanye-Stillwater’s ability to hire and retain senior management
or sufficient technically skilled employees, as well as its ability to achieve
sufficient representation of historically disadvantaged South Africans in its
management positions; failure of Sibanye-Stillwater’s information technology
and communications systems; the adequacy of Sibanye-Stillwater’s insurance
coverage; social unrest, sickness or natural or man-made disaster at informal
settlements in the vicinity of some of Sibanye-Stillwater’s South African-based
operations; and the impact of HIV, tuberculosis and the spread of other
contagious diseases, such as the coronavirus disease (COVID-19). Further
details of potential risks and uncertainties affecting Sibanye-Stillwater are
described in Sibanye-Stillwater’s filings with the Johannesburg Stock Exchange
and the United States Securities and Exchange Commission, including the
Integrated Annual Report 2020 and the Annual Report on Form 20-F for the fiscal
year ended 31 December 2020.
These forward-looking statements speak only as of the date of the content.
Sibanye-Stillwater expressly disclaims any obligation or undertaking to update
or revise any forward-looking statement (except to the extent legally
required). These forward-looking statements have not been reviewed or reported
on by the Group’s external auditors.

Date: 02-03-2022 05:50:00
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