Private placement of R5.7 billion domestic medium term notes under the Northam Platinum R15.0 billion DMTN programme

NORTHAM PLATINUM HOLDINGS LIMITED                            NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa                 Incorporated in the Republic of South Africa
Registration number: 2020/905346/06                          Registration number: 1977/003282/06
JSE share code: NPH ISIN: ZAE000298253                       JSE debt issuer code: NHMI
("Northam Holdings" or, together with its subsidiaries,      Bond code: NHM021          Bond ISIN: ZAG000181496
"Northam")                                                   Bond code: NHM022          Bond ISIN: ZAG000190133
                                                             Bond code: NHM023          Bond ISIN: ZAG000190968
                                                             Bond code: NHM025          Bond ISIN: ZAG000195934
                                                             Bond code: NHM026          Bond ISIN: ZAG000195942
                                                             Bond code: NHM027          Bond ISIN: ZAG000216052
                                                             Bond code: NHM028          Bond ISIN: ZAG000216045
                                                             Bond code: NHM029          Bond ISIN: ZAG000216037
                                                             ("Northam Platinum")

PRIVATE PLACEMENT OF R5.7 BILLION DOMESTIC MEDIUM TERM NOTES UNDER THE NORTHAM PLATINUM R15.0 BILLION DOMESTIC MEDIUM TERM NOTE PROGRAMME

Northam is pleased to announce that it has successfully concluded a private placement of new domestic medium term notes("Notes") to the value
of R5.7 billion under Northam Platinum's R15.0 billion Domestic Medium Term Note Programme, as amended and/or supplemented from time to time
("Programme"), (the "Placement").

The new Notes were issued today, 13 June 2025 and comprise:

    •   c. R2.6 billion under bond series NHM027 maturing on 13 June 2028;
    •   c. R0.6 billion under bond series NHM028 maturing on 13 June 2029; and
    •   c. R2.5 billion under bond series NHM029 maturing on 13 June 2030,

    (collectively, the "New Notes").

The maturity profile of the New Notes has been staggered intentionally, taking into consideration, inter alia, Northam's
business strategy, the extent and expected completion dates of current and planned capital projects and the maturity profile
of the Notes in issue under the Programme prior to the Placement, to provide additional certainty and flexibility as well as
to protect Northam's liquidity position and capacity to execute growth projects through metal price cycles.

Pursuant to the Placement, the total nominal value of Notes in issue under the Programme amounts to c. R12.2 billion.
No further Notes will mature during the current financial year, with the remainder of maturities spread across the 2026 to
2030 financial years.

Paul Dunne, Northam's Chief Executive Officer, said: "Northam is grateful for the continued support received from our
capital providers, including new investors in our Programme. Our growth strategy and allocation of capital are underpinned
by our belief in the special metals we produce and their continued global importance. This placement will provide Northam
with sufficient flexibility and liquidity to pursue an accelerated capital programme in the short- to medium-term in the
execution of our strategy to safely, efficiently and sustainably increase our PGM production against a depleting primary
supply from the sector. The strong performance by our operations, together with our favourable position on the sector cost
curve, ensure Northam's sustainable future, enhancing our investment case."


Johannesburg
13 June 2025

Corporate Advisor and JSE Sponsor to Northam Holdings                
One Capital                                                   

Sole Arranger and Dealer to Northam Platinum in respect of the Programme as well as Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital

Attorneys to Northam Holdings, Northam Platinum, the Guarantor, the Arranger and the Dealer, in respect of the Programme
Bowman Gilfillan Inc.

Date: 13-06-2025 11:25:00
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