Sibanye Stillwater : Mineral Resources and Mineral Reserves report 2023

MINERAL RESOURCES AND MINERAL RESERVES REPORT 2023

for the year ended 31 December 2023

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ABOUT OUR FULL SUITE OF REPORTS

2023 OVERVIEW

US PGM: 87.8Moz (+4.4%) of 2E	SA PGM: 182.8Moz (+3.1%) of	SA Gold Operations: 41.2Moz
Mineral Resources & 26.3Moz	Mineral Resources & 28.1Moz	(-23%) Mineral Resources &
(Unchanged) 2E Mineral	(-10.4%) 4E Mineral Reserves	10.9Moz (-15.7%) Mineral
Reserves		Reserves

Stable long-term outlook at our US PGM operations, with only minor Mineral Resource definition drilling additions. Ongoing restructuring to reduce operating and capital costs to ensure sustainability through a lower palladium price environment.

Primarily driven by the inclusion of the Schaapkraal prospecting right at Marikana (+ 8.97Moz 4E Mineral Resources), and the exclusion of the North Hill feasibility study at the 50% owned Mimosa (-1.5Moz Mineral Reserves).

Primarily impacted by the closure of Kloof No. 4 shaft (-6.1Moz Mineral Resources and -1.6Moz Mineral Reserves).

Lithium: 702kt (+55%) of LCE	Uranium: 59.2Mlb (-11.1%)	Zinc: 3,002 (+257%) Mlb Mineral
Mineral Resources & 182kt	U3O8 Mineral Resources.	Resources & 1,726 (+287%) Mlb
(-6%) LCE Mineral Reserves		Mineral Reserves; and Copper:
		8,163 (-39.4%) Mlb Mineral
		Resources

Driven by successful exploration

at the Keliber project in Finland (+105kt LCE), and an updated Mineral Resource estimate at the Rhyolite Ridge project in Nevada (+145kt LCE).

The Cooke dump and the Beisa project at Beatrix are strategic assets providing near-term development options at a time of renewed interest in uranium.

Zinc driven by the full acquisition of New Century Resources. The exercise of the Mt Lyell option in Tasmania added 1,609Mlb of contained copper, whilst Aldebaran Resources Ltd. earned 60% into the Altar project, impacting copper Mineral Resources.

OUR 2023 REPORTS

These reports cover the financial year from 1 January to 31 December 2023*

INTEGRATED	NOTICE OF ANNUAL	GROUP ANNUAL	COMPANY FINANCIAL	MINERAL RESOURCES
REPORT	GENERAL MEETING AND	FINANCIAL REPORT	STATEMENTS	AND MINERAL
	SUMMARISED FINANCIALS			RESERVES REPORT

About our cover designs:

Our strategic differentiator Inclusive, diverse and bionic, is depicted in the cover as a fingerprint, with small markings that signify computer code. As technology becomes ever more capable and powerful, the fear exists of the possible loss of human individuality, the loss of our independent spirit. The design reminds us what this strategic differentiator points to, the potential for humanity to be enhanced through using technology ("bionic"), and the potential for uniqueness and diverse individual identity to find its expression in service to our vision and purpose. We value the contributions of our employees (each having left their unique "fingerprint" on our business) and we honour their commitment to our values, which ripples out, amplifying the Group's capacity to innovate and evolve.

SUPPORTING FACT SHEETS AND SUPPLEMENTARY INFORMATION AVAILABLE ONLINE

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• Group Impact supplement 2023
• Progressing the UN's SDGs
• Environmental incidents in 2023
• Biodiversity management
• Social and labour plans (SLPs): Summary of projects
• Climate change supplement
• Sustainability content index
• Tailings management

• Care for iMali: Taking care of personal finance
• Combating illegal mining
• Sibanye-Stillwater'sICMM self-assessment for 2023
• The Good Neighbor Agreement
• Definitions for sustainability/ESG indicators
• Application of King IV Principles in 2023
• ESG scorecard for the long term incentive (LTI) awards

• This report encompasses data pertaining to the financial year ended on 31 December 2023. As necessary or where pertinent, certain information has been incorporated subsequent to year-end

CONTENTS

OUR BUSINESS	1
Introduction	3
Corporate governance and regulatory compliance	4
Location of our operations and projects	5
Fundamental notes	7
Group summary of mining properties	8
Auditing and risk	18
Mineral title	19
Exploration	19
Annual planning process	19
Commodity price assumptions	20
Competent persons' declaration and consent	21
AMERICAS	2
LOCATION	25
US PGM OPERATIONS	26
Stillwater and East Boulder	26
PGM EXPLORATION	35
Marathon	35
BATTERY METALS EXPLORATION	37
LITHIUM	37
Rhyolite Ridge	37
COPPER	39
Altar	39
SOUTHERN AFRICA	3
LOCATION	41
PGM OPERATIONS	42
Marikana	47
Rustenburg	53
Kroondal	58
Mimosa	63
PGM EXPLORATION	66
Akanani	66
Limpopo	67
GOLD OPERATIONS	68
Kloof	70
Driefontein	76
Beatrix	81
Cooke	85
DRDGOLD	88
GOLD DEVELOPMENT	91
Burnstone	91
GOLD EXPLORATION	93
Southern Free State (SOFS)	93

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EUROPE	4
LOCATION	95
BATTERY METALS DEVELOPMENT	96
LITHIUM	96
Keliber	96
AUSTRALIA	5
LOCATION	103
ZINC OPERATION	104
Century	104
COPPER EXPLORATION	107
Mt Lyell	107
ANCILLARY INFORMATION	6
Professional Organisations	110
SAMREC Code definitions	111
Glossary of terms	112
Abbreviations	113
Disclaimer	115
Administration and company information	116
RSA Generic Mining Permit Conditions	117
DISCLOSURE PURSUANT TO SK-1300
Summary property disclosure pursuant to Item 1303	4
under SK-1300
Individual property disclosure pursuant to Item 1304 under SK-1300
Stillwater and East Boulder (US PGM)	26
Marikana	47
Rustenburg	53
Kroondal	58
Kloof	70
Driefontein	76
Keliber	96
Internal controls disclosure pursuant to Item 1305 under SK-1300
Americas	28
Southern Africa PGM	44
Southern Africa Gold	69
Europe	97

Your feedback and suggestions are welcome. Please direct them to James Wellsted, Head of Investor Relations and Corporate Affairs:

[e-mail]

SIBANYE-STILLWATER MINERAL RESOURCES AND MINERAL RESERVES 2023

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OUR

BUSINESS

Introduction	3
Corporate governance and regulatory compliance	4
Location of our operations and projects	5
Fundamental notes	7
Group summary of mining properties	8
Auditing and risk	18
Mineral title	19
Exploration	19
Annual planning process	19
Commodity price assumptions	20
Competent persons' declaration and consent	21

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SIBANYE-STILLWATER MINERAL RESOURCES AND MINERAL RESERVES 2023

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OUR BUSINESS	AMERICAS	AFRICA	EUROPE

INTRODUCTION

AUSTRALIA

ANCILLARY INFORMATION

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Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of PGM autocatalysts and has interests in leading mine tailings retreatment operations.

Sibanye-Stillwater is one of the world's largest primary producers of platinum, palladium, and rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt. The Group has recently begun to diversify its asset portfolio into battery metals mining and processing and increase its presence in the circular economy by growing its recycling and tailings reprocessing exposure globally. For more information, see www.sibanyestillwater.com.

Our fundamental strategic goal is to ensure that we consistently deliver on our purpose to "safeguard global sustainability through our metals and energy solutions", while strengthening our position as a leading international mining Group, and ensuring we are true to our vision To be a leader in superior shared value for all stakeholders. Everything we do is driven by our iCARES values of innovation, commitment, accountability, respect, enabling and safety.

CASTLE WIND FARM: 89MW RENEWABLE PROJECT UNDER CONSTRUCTION

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CORPORATE GOVERNANCE AND REGULATORY COMPLIANCE

Sibanye-Stillwater is listed on the JSE and the NYSE and is required to comply with section 12.13

of the JSE Listings Requirements and the requirements of Subpart 1300 of Regulation S-K of the U.S. Securities Act (SK-1300).

For the SA region, the managed operations, development and exploration properties, as well as for the non-managed assets (DRDGOLD and Mimosa), the Mineral Resources and Mineral Reserves, and the mineral asset valuations supporting the Mineral Reserve estimates, have been prepared in compliance with the South African Code for Reporting of the Exploration Results, Mineral Resources and Mineral Reserves (SAMREC 2016 edition, including Table 1 and Appendices) and the South African Code for the Reporting of Mineral Asset Valuation (SAMVAL 2016 edition), and all requirements thereof have been complied with. This disclosure is also compliant with JSE Listings Requirements, section 12.13.

For the international, non-managed Marathon and Altar exploration properties (all non-material assets), the original estimates were prepared in compliance with the Canadian NI43-101; and for the Century, Rhyolite Ridge and Keliber (Mineral Reserves only) properties in compliance with the Australian JORC Code, which are both Committee for Mineral Reserves International Reporting Standards (CRIRSCO) sister codes of SAMREC and SAMVAL.

The Group has verified them for alignment to SAMREC/SAMVAL and SK-1300, and believe that the final estimates would be similar (barring reporting methodology), and that the estimates can be considered current.

In complying with the requirements of SK-1300, this document serves to satisfy both the summary disclosure requirements set out under Item 1303 of SK-1300 (Item 1303) and individual material property disclosure requirements set out under Item 1304 of SK-1300 (Item 1304). Section 1 contains all summary disclosure related information set out under Item 1303, while sections 2, 3, 4 and 5 contain individual material property disclosure information required under Item 1304 of SK-1300 for material properties. To ensure alignment and continuity with past disclosures, the Group is also disclosing additional and relevant information on non-material properties in sections 2-5.

This report also complies with the internal controls disclosure requirements set out under Item 1305 of SK-1300 (Item 1305). Disclosure pursuant to Item 1305 can be found in sections 2, 3, 4 and 5.

MATERIAL PROPERTIES

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A comprehensive materiality assessment has been conducted on the Group's mineral properties, which led to the identification

of seven material properties which are the key drivers of the Groups' Mineral Reserves, revenue, profits and strategy.

The properties considered material for the purpose of SK-1300 are listed below.

PGM

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• Americas: the US PGM operations consisting of the East Boulder and Stillwater mines
• Southern Africa: the Marikana, Rustenburg (SRPM), and Kroondal operations

GOLD

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• Southern Africa: the Kloof and Driefontein operations

BATTERY METALS

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• Finland: the Keliber lithium project

In support of the material property disclosure for the 2023 reporting period, updated TRS's were filed for the US PGM, Kloof, Kroondal and Keliber properties.

These filings with the United States Securities and Exchange Commission (SEC) on Form 6-K, were incorporated by reference as exhibits to the 2023 annual report on Form 20-F and can be accessed via EDGAR.

Notably, for the Keliber lithium project, Sibanye-Stillwater has filed an updated Technical Report Summary in support of materially increased Mineral Resources assessed in 2023. Sibanye-Stillwater is currently undertaking an assessment of its reported Mineral Reserves at Keliber, and will file a further updated Technical Report Summary as required to support the disclosure of updated Mineral Reserves. The Mineral Reserve estimates contained herein are based on the Technical Report Summary of the Keliber lithium project for the year ended 31 December 2022 (as filed with the SEC on 14 December 2023).

Mineral Resources are reported both inclusive and exclusive of Mineral Reserves.

SUNSET OVER THE CENTURY ZINC PROCESSING FACILITY IN NORTH QUEENSLAND

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LOCATION OF OUR OPERATIONS AND PROJECTS

A UNIQUE, GREEN PORTFOLIO OF GEOGRAPHICALLY DIVERSIFIED ASSETS AND COMMODITIES

AMERICAS ASSETS

SOUTHERN AFRICAN ASSETS

EUROPEAN ASSETS

US PGM OPERATIONS

Stillwater (100%)**

Mineral Resources: 50Moz 2E

Mineral Reserves: 15.7Moz 2E

East Boulder (100%)**

Mineral Resources: 37.8Moz 2E

Mineral Reserves: 10.6Moz 2E

PGM EXPLORATION

Marathon (13.9%)*

Mineral Resources: 0.8Moz 2E

LITHIUM EXPLORATION

Rhyolite-Ridge (6.91%)*

Mineral Resources: 232kt LCE

COPPER EXPLORATION

Altar (48.61%)*

Mineral Resources: 6,386Mlb Cu

SA PGM OPERATIONS

Marikana (80.64%)**

Mineral Resources: 111.1Moz 4E

Mineral Reserves: 16.5Moz 4E

Rustenburg (74%)**

Mineral Resources: 60.4Moz 4E

Mineral Reserves: 9.3Moz 4E

Kroondal (87%)**

Mineral Resources: 4.4Moz 4E

Mineral Reserves: 0.7Moz 4E

Mimosa (50%)*

Mineral Resources: 6.9Moz 4E

Mineral Reserves: 1.6Moz 4E

SA PGM EXPLORATION

Akanani (80.13%)

Mineral Resources: 31.6Moz 4E

Limpopo: Voorspoed and

Doornvlei (80.64%), and Dwaalkop

(40.32%) Mineral Resources: 19.9Moz 4E

LITHIUM DEVELOPMENT

Keliber (79.82%)**

Mineral Resources: 470.7kt LCE

Mineral Reserves: 182kt LCE

AUSTRALIAN ASSETS

ZINC OPERATIONS

Century (100%)

Mineral Resources: 3,002Mlbs Zn

Mineral Reserves: 1,726Mlbs Zn

COPPER EXPLORATION

Mount Lyell (100%)

Mineral Resources: 1,609Mlbs Cu

• Non-managed

• Material property under SK-1300
  PGM = platinum group metals, Au = gold,
  Cu = copper, LCE = lithium carbonate equivalent, Zn = zinc, U3O8 = uranium

1. Verkor's headquarter is located in Grenoble, but planned plant is to be located in Dunkirk (just north of Sandouville).
2. Mt Lyell is a copper asset in Tasmania which is currently on care and maintenance.

A feasibility study, which considers the re-establishment of the operation, is underway.

CIRCULAR ECONOMY OPERATIONS

BATTERY METALS

GREEN METALS

SA GOLD OPERATIONS

Kloof (100%)**

Mineral Resources: 15.6Moz Au

Mineral Reserves: 1.8Moz Au

Driefontein (100%)**

Mineral Resources: 11.5Moz Au

Mineral Reserves: 2.9Moz Au

Beatrix (100%)

Mineral Resources: 7.6Moz Au

Mineral Reserves: 0.7Moz Au

Cooke (76%)

Mineral Resources: 1.7Moz Au

Mineral Reserves: 0.1Moz Au

DRDGOLD (50.28%)*

Mineral Resources: 4.7Moz Au

Mineral Reserves: 2.9Moz Au

SA GOLD DEVELOPMENT

Burnstone (100%)

Mineral Resources: 8.8Moz Au

Mineral Reserves: 2.5Moz Au

SA GOLD EXPLORATION

SOFS (Southern Free State project) (100%) Mineral Resources: 6.9Moz Au

SA URANIUM EXPLORATION

Beisa (100%)

Mineral Resources: 27.0Mlb U3O8

Cooke (76%)

Mineral Resources: 32.2Mlb U3O8

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LOCATION OF OUR OPERATIONS AND PROJECTS continued

AMERICAS

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PGMs

Sibanye-Stillwater wholly owns and operates PGM mining, processing and recycling operations located in Montana, US. These assets include the Stillwater mine (inclusive of the Stillwater East mine), the East Boulder mine, two concentrator plants, and PGM mining claims located near the town of Nye. In addition, the Group owns and operates a metallurgical smelter and base metals refinery complex situated in the town of Columbus, Montana, which also serves as the base for our PGM recycling business, which recovers PGMs from used catalytic converters. (Together known as the US PGM operations.)

The Group also has a 13.90% equity holding in Generation Mining Ltd., the owners and operator of the Marathon PGM project in Canada.

Battery metals

The Group holds a 6.91% interest in ioneer Limited, the owner and operator of the Rhyolite Ridge lithium and boron project in Nevada, with an agreement to enter into a 50:50 JV on the project, subject to the fulfilment of certain conditions.

The project has entered the final permitting phase, with the final record of decision (ROD) expected in H2 2024.

The Group also holds a 40%, non-managed interest in the Altar copper-gold porphyry exploration project in Argentina.

SOUTHERN AFRICA

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The Akanani exploration project (80.13% attributable) is an exploration asset on the northern limb of the Bushveld Igneous Complex (BIC) near the town of Mokopane. The Limpopo exploration project, located approximately 50km southeast of Mokopane, consists of the care and maintenance Baobab operation (80.64% attributable), the Dwaalkop mining right (50:50 JV area with Northam, 40.32% attributable), and the Doornvlei mining right (80.64% attributable).

Gold

The SA gold operations are made up of four managed, producing, underground and surface operations in South Africa, namely the Kloof (100% attributable), Driefontein (100% attributable) and Cooke (76% attributable) operations in the West Wits region, and Beatrix (100% attributable) operation in the Free State province.

Burnstone (100% attributable) is a development project in the Mpumalanga province. In addition, and in support of its gold mining activities, Sibanye-Stillwater owns and manages six metallurgical processing facilities where gold-bearing ore is processed, and gold extracted.

Wholly-owned and managed projects in study phase include Bloemhoek and De Bron Merriespruit, which form part of the Southern Free State (SOFS) exploration project.

The Group also reports Mineral Resources and Mineral Reserves on an attributable basis for DRDGOLD Limited (DRDGOLD) due to its 50.28% equity interest. DRDGOLD operates the Far West Gold Recoveries (FWGR) and the ERGO Gold Recoveries operations.

PGMs

The SA PGM operations are comprised of three managed underground operations (Marikana, Rustenburg and Kroondal). In addition, the PGM segment has a 50% attributable interest in a non-managed, underground operation (Mimosa) in Zimbabwe.

The Rustenburg (74% attributable) and Kroondal (87% attributable) operations produce concentrate which is processed in terms of a toll-treatment (Rustenburg) and purchase of concentrate (POC)

(Kroondal) agreement by Rustenburg Platinum Mines Pty Ltd, a division of Anglo American Platinum Ltd.

The Marikana operation (80.64% attributable) processes its own as well as third-party concentrate via a metallurgical smelter and base metals refinery situated at the operations, and a precious metals refinery complex located in Brakpan, to the east of Johannesburg.

Apart from the primary mining operations, significant tailings treatment operations exist:

• The Platinum Mile tailings retreatment facility (100% owned and managed) recovers PGMs from historic Rustenburg TSFs as well as live tailings streams from the Rustenburg (Waterval and Retrofit) concentrator plants
• The Western Limb tailings retreatment (WLTR) plant recovers PGMs from historic TSFs at the Rustenburg operation
• The Bulk tailings treatment (BTT) facility recovers chrome and PGMs from the ETD1 TSF at the Marikana operation
• The Eastern tailings treatment project (ETTP) facility recovers chrome and PGMs from live tailings material from the EPL concentrator at the Marikana operation
• At the Rustenburg, Kroondal and Marikana operations, chrome concentrate is recovered as a by-product from the UG2 tailings streams

Green metals

Significant quantities of uranium are present in the historic TSFs of the Cooke operation, as well as the Beisa project area, a combined gold and uranium deposit at the Beatrix operation. These are considered exploration projects, even though they occur within existing operational mining right areas.

EUROPE

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Battery metals

The Group owns (79.82% attributable) and is developing the Keliber lithium project in Finland. During 2023, construction of the lithium- hydroxide refinery in Kokkola was progressed, and the construction of the concentrator plant near Kaustinen was approved and commenced. Significant exploration activities are also ongoing at the extensive mineral title holdings.

AUSTRALIA

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Green metals

During 2023, the Group acquired 100% of New Century Resources Limited (Century, 2022: 19.89% attributable), which operates the largest tailings retreatment operation in Australia, the Century zinc operation in Queensland.

With the acquisition of Century, the group also obtained an option to acquire Mt Lyell (under care and maintenance) copper operation in Tasmania from Vedanta Zinc International. a division of Vedanta Resources Ltd. The option was exercised in November 2023, and is currently subject of a feasibility regarding re-opening the operation.

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FUNDAMENTAL NOTES

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2

3

4

5

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9

10

11

12

This Mineral Resources and Mineral Reserves Report for Sibanye-Stillwater covers a full description of all of the Group's

mineral property assets, as at 31 December 2023.

The Mineral Resources and Mineral Reserves year-on-year reconciliation may be impacted by variations in

commodity prices, currency exchange rates, legislation, permitting changes, costs and operating performance.

All stated Mineral Resource and Mineral Reserve estimates are net of 12 month's production depletion since

31 December 2022. The depletion applied to the managed operations includes the actual measured depletion up until

end of September 2023, while the remaining depletion is estimated up to 31 December 2023.

Mineral Resource and Mineral Reserve price assumptions for non-managed properties may vary from those used for

the managed operations. In those cases, the reader is directed to the notes provided below the classification tables

for detailed information.

SA PGM operations Mineral Resource and Mineral Reserve reporting accounts for four elements (4E) of the basket of

PGMs (platinum, palladium, rhodium and gold), while the US PGM operations Mineral Resource and Mineral Reserve

reporting accounts for two elements (2E) of PGMs ( palladium and platinum). Other associated precious metals - such

as iridium, ruthenium (SA PGM), gold and silver (US PGM) - are generally not material to the estimations or

calculations. The base metals (copper, nickel, cobalt and chromium) are also extracted as by-products in

conjunction with these PGMs. These are not reported on individually, but their average concentrations in the various

ores are provided as guidelines. Mineral Resource and Mineral Reserve economic calculations are based on a basket

price, taking into consideration all metals extracted and recovered.

In line with industry practice, lithium (Li) and lithium oxide (Li2O) Mineral Resources and Mineral Reserves total metal

content is quoted in lithium carbonate (Li2CO3) equivalent (LCE), which is one of the final products produced in the

lithium mining value chain. LCE is derived from in-situ Li content by multiplying by a factor of 5.323, and from Li2O by

multiplying by a factor of 2.473. Lithium Hydroxide Monohydrate (LiOH.H2O) can be derived from LCE by dividing by a

factor of 0.88.

No inferred Mineral Resources have been included in any of the economic studies for the reporting

of Mineral Reserves.

Mineral Resources are reported in-situ, incorporating provision for geological losses; and takes due consideration of

the reasonable prospect for economic extraction (RPEE), based on our Mineral Resource metal price assumptions.

Detailed financial models are used to estimate the Mineral Reserves. All modifying factors applied are all-inclusive

from mine to mill. Mineral Reserves are reported as tonnes and contained metal reporting to the mill, with the

exception of lithium and boron, where equivalent final produced product is included as well.

Attributable Mineral Resources and Mineral Reserves are reported on a legal, equity interest basis, considering both

direct (project level) and indirect (holding entity level) interests, and also include indirect holdings via subsidiaries and

treasury shares. In addition, the full (100% basis) Mineral Resources and Mineral Reserves for each property are also

provided for full transparency.

Rounding-off of figures in this report may result in minor computational discrepancies. Where this occurs, it is not

deemed significant and reflects the level of accuracy of the estimate.

All references to tonnes (t) are in metric units.

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GROUP SUMMARY OF MINING PROPERTIES

Group material mineral property summary

					Attributable				Mineralisation
Commodity	Region	Stage	Property name	Area (ha)	ownership	Ownership type	Mine type	Operator	style
PGM	Americas	Production	Stillwater and	9,749	100%	Fully owned private	Underground	Sibanye Stillwater Ltd	Magmatic
			East Boulder			subsidiary
PGM	Southern Africa	Production	Marikana	26,223	80.64%	Majority owned private	Underground	Sibanye Stillwater Ltd	Magmatic
						subsidiary
PGM	Southern Africa	Production	Rustenburg	15,898	74/86.35%*	Majority owned private	Underground	Sibanye Stillwater Ltd	Magmatic
						subsidiary
PGM	Southern Africa	Production	Kroondal	8,122	87 %	Majority owned private	Underground	Sibanye Stillwater Ltd	Magmatic
						subsidiary
Gold	Southern Africa	Production	Kloof	20,087	100%	Fully owned private	Underground	Sibanye Stillwater Ltd	Paleoplacer
						subsidiary
Gold	Southern Africa	Production	Driefontein	8,561	100%	Fully owned private	Underground	Sibanye Stillwater Ltd	Paleoplacer
						subsidiary
Lithium	Europe	Development	Keliber	3,038	79.82%	Majority owned private	Underground &	Sibanye Stillwater Ltd	Magmatic
						subsidiary	open pit

*86.35% applicable to the Hoedspruit prospecting right area.

Group non-material mineral property summary

					Attributable				Mineralisation
Commodity	Region	Stage	Property name	Area (ha)	ownership	Ownership type	Mine type	Operator	style
PGM	Americas	Exploration	Marathon*	19,625	13.90%	Equity in listed entity	Open pit	Generation Mining	Magmatic
PGM	Southern Africa	Production	Mimosa*	6,594	50%	Joint Venture	Underground	Mimosa Mining Pty Ltd	Magmatic
PGM	Southern Africa	Exploration	Akanani	4,095	80.13%	Majority owned private	Underground	Sibanye Stillwater Ltd	Magmatic
						subsidiary
PGM	Southern Africa	Exploration	Limpopo	5,706	40.32**/	Majority owned private	Underground	Sibanye Stillwater Ltd	Magmatic
					80.64%	subsidiary & Joint
						Venture via majority
						owned subsidiary
Gold	Southern Africa	Production	Beatrix	16,821	100%	Sibanye Stillwater Ltd	Underground	Sibanye Stillwater Ltd	Paleoplacer
Gold	Southern Africa	Production	Cooke	14,724	76%	Majority owned private	Re-treatment	Sibanye Stillwater Ltd	Tailings
						subsidiary
Gold	Southern Africa	Production	DRDGOLD*	31,566	50.28 %	Equity in listed entity	Re-treatment	DRDGOLD Ltd	Tailings
Gold	Southern Africa	Development	Burnstone	13,136	100%	Fully owned private	Underground	Sibanye Stillwater Ltd	Paleoplacer
						subsidiary
Gold	Southern Africa	Exploration	SOFS	17,022	100%	Fully owned private	Underground	Sibanye Stillwater Ltd	Paleoplacer
						subsidiary
Uranium	Southern Africa	Exploration	Cooke (TSF's)	8,119	76%	Majority owned private	Re-treatment	Sibanye Stillwater Ltd	Tailings
						subsidiary
Lithium	Americas	Exploration	Rhyolite Ridge*	3,160	6.91%	Equity in listed entity	Open pit	ioneer Ltd	Sedimentary
Copper	Americas	Exploration	Altar*	8,440	48.61 %	Minority project level	Underground &	Aldebaran Resources	Magmatic
						shareholding & equity	open pit	Ltd
						holding in listed entity
Zinc	Australia	Production	Century	75,784	100 %	Fully owned private	Re-treatment	New Century	Tailings
						subsidiary		Resources Pty Ltd
Copper	Australia	Exploration	Mt Lyell	4,648	100 %	Fully owned private	Underground	New Century	Volcanogenic
						subsidiary		Resources Pty Ltd
* Non-Managed	**40.32% applicable to the Dwaalkop JV.

Group production summary

					Year ended 31 December
		2023				2022				2021
Region	Milled	Yield	Produced		Milled	Yield	Produced		Milled	Yield	Produced
	kt	g/t	2E/4E/AU koz		kt	g/t	2E/4E/AU koz		kt	g/t	2E/4E/AU koz
US PGM	1,174	11.3	427	1,154	11.3	421	1,469	12.1	570
SA PGM	36,048	1.4	1,673	36,644	1.4	1,668	38,307	1.5	1,836
SA Gold	31,941	0.8	811	36,172	0.5	621	44,402	0.8	1,073

Encumbrances

There are no Group significant or material encumbrances in the mineral properties licensing tenure that would restrict our planned mining activities.

SIBANYE-STILLWATER MINERAL RESOURCES AND MINERAL RESERVES 2023

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