Sibanye Stillwater Limited (JSE:SSW) News - Sibanye-Stillwater secures inflation linked wage agreement at its East Boulder mine through to July 2024

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 “Company” or “the Group”)

Website: www.sibanyestillwater.com

Sibanye-Stillwater secures inflation linked wage agreement at its East Boulder mine
through to July 2024

Johannesburg, 23 February 2022: Sibanye-Stillwater (JSE: SSW and NYSE: SBSW) is
pleased to announce that it has successfully ratified a new collective bargaining
agreement, effective 16 February 2022 through to 31 July 2024, with the United Steel
Workers International Union (USW) at its East Boulder mine in Montana in the United
States.

The contract covers a broad range of terms including average annual wage increases
of 2.5% in 2022, 3% in 2023 and 3% in 2024. In addition to the base increase in
2022, an increase to benefits and incentive has been agreed, which will result in
an effective average increase of 5.4% for 2022 if all safety and quality deliverables
are fully met. This settlement amounts to an annual average increase of 3.8% per
year for the next 3 years, which compares favourably with US inflation rates.

Neal Froneman, CEO of Sibanye-Stillwater commenting on the agreement, said “We are
very pleased with the constructive engagement process with the United Steelworkers,
which has resulted in a sustainable collective bargaining agreement, that takes into
account the impact of global inflationary cost pressures on both employees and the
East Boulder operation, ensuring an outcome which is favourable for the Company, its
employees and all stakeholders.”



Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Public Relations
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com

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: 23-02-2022 11:15:00
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