Northam Platinum : Mineral Resources and Mineral Reserves statement 2022

Northam Holdings: Mining that matters

Mineral Resources and Mineral Reserves statement as at 30 June 2022

Contents

2 Mineral Resources and Mineral Reserves statement

1. Highlights of the year 2022 Mineral Resources and Mineral Reserves

1. Booysendal mine

1. Eland mine

1. Zondereinde mine

1. Dwaalkop joint venture

1. RBPlat mines

1. Kokerboom prospect
2. General notes on reporting criteria

1. Glossary of terms

1. Administration and contact information

Mineral Resources are the product of mineral assets and exploration processes

225.47Moz 4E

Group total attributable Mineral Resources 2021: 203.65 Moz 4E

Mineral Reserves are the outcome of mine planning and scheduling, as well as the consideration of capital

34.50Moz 4E

Group total attributable Mineral Reserves 2021: 29.51 Moz 4E

Ore feed on conveyor belt at Booysendal Mine

Core to the group's operational growth strategy has been the expansion and strengthening of our Mineral Resources and Mineral Reserves base. This has been facilitated through the acquisition of quality assets in strategic locations, backed up by robust and ongoing planning processes following best practice in line with

the prescripts and principles of the SAMREC Code (2016).

We consider the group's current Mineral Resources and Mineral Reserves positions to be of a sufficient scale and quality to support a sustainable production profile in line with our strategic intent.

Northam Holdings  Mineral Resources and Mineral Reserves statement 2022

1

Mineral Resources and Mineral Reservesstatement

Northam Platinum Holdings Limited		Zondereinde
(Northam) subsumed Northam Platinum
Limited during the year. Northam		79.61Moz1
Platinum Limited remains the operating
entity in which Northam's wholly-
owned operations and the Dwaalkop
joint venture are held.		14.71Moz2
Northam's attributable combined
Mineral Resources for 2022, expressed
as metal content, comprises
225.47 Moz 4E. The corresponding
combined Mineral Reserves comprises
34.50 Moz 4E.

The Mineral Resources and Mineral
Reserves rest entirely within the				Amandelbult
Merensky and UG2 Reefs of the
Bushveld Complex, South Africa, and
estimates have been prepared using
the guidelines of the South African					Union		Eland
Code for the Reporting of Exploration
Results, Mineral Resources and Mineral							14.43Moz1
Reserves (2016), the (SAMREC Code	Pilanesberg		Sedibelo
(2016)). Mineral Resources are reported
inclusive of Mineral Reserves. All
Mineral Resources (total Measured,							3.20Moz2
Indicated and Inferred) and Mineral
Reserves (total Proved and Probable)
are expressed as 4E, being the
combined platinum, palladium, rhodium
and gold grade or content.
Booysendal, Eland and Zondereinde are					Implats
				RPM
wholly-owned PGM mines of Northam,						Crocodile River
having a 100% attributable interest.				Rustenburg
The Zondereinde mine includes the				Eastern & Western Plats	Pandora
Middeldrift section to the east, as well
as the Western extension section to the
west, formerly known as the "Tumela
block", all being consolidated into a
single mining right. The Eland mine				RBPlat*
includes the Maroelabult mine to the
during the past year, Northam				23.06Moz1
west, which was acquired during the									Pretoria
year and has been incorporated into
the Eland mining right. In addition,				5.46Moz2
acquired a 34.52% interest in Royal
Bafokeng Platinum Limited (RBPlat).
Northam also has a 50% attributable							Johannesburg
stake in the Dwaalkop joint venture

through its wholly-owned subsidiary Mvelephanda Resources Proprietary Limited (Mvelaphanda). Dwaalkop is managed by Sibanye-Stillwater Limited (Sibanye-Stillwater).

2	Northam Holdings  Mineral Resources and Mineral Reserves statement 2022

	Polokwane	Bushveld Complex location
	indicating current PGM
Mokgalakwena		mining operations and
	Northam's attributable
		combined Mineral Resources
		and Mineral Reserves,
		expressed as Moz 4E.

	Mokopane
	Bokoni
	Limpopo
	Twickenham
Dwaalkop*	Marula
7.12Moz1	Modikwa
0.0Moz2	Two Rivers

	Mototolo
Groblersdal	Der Brochen

Mashishing

Booysendal

101.25Moz1

11.13Moz2

Emalahleni

					Key:
					●	Wholly-owned operations
					●	Joint arrangement
					●	Significant interest
					●	Other peer operations
					●	Cities/towns
					-	Main Roads
					1	Mineral Resources
0	50	100 km	2	Mineral Reserves
*	Estimated as at 31 December 2021
Northam Holdings  Mineral Resources and Mineral Reserves statement 2022				3