Finalisation announcement in relation to the Odd-lot Offer

IMPALA PLATINUM HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE Share code: IMP
ISIN: ZAE000083648
JSE Convertible Bond Stock Code: IMCB22
JSE Convertible Bond ISIN: ZAE000247458
ADR code: IMPUY
(“Implats” or “the Company”)

FINALISATION ANNOUNCEMENT IN RELATION TO THE ODD-LOT OFFER

1. Finalisation information

    Unless otherwise defined, the definitions and interpretations contained in the circular issued by Implats on
    Monday, 14 September 2020 (“Circular”) apply, mutatis mutandis, to the terms used in this announcement.

    On Monday, 14 September 2020, Implats issued the Circular to Implats Shareholders relating to the proposed
    implementation of the Odd-lot Offer, which will result in the repurchase by the Company of the Odd-lot Holdings
    from the Odd-lot Holders at the Offer Price, being at a 10% premium to the 30-calendar day volume weighted
    average price of an Implats Share at the close of business on Monday, 26 October 2020, which Offer Price is
    equal to 17 272.20150 cents (R172.72201).

    Further to the results of the General Meeting of Implats Shareholders announced on SENS on Wednesday, 14
    October 2020, Implats Shareholders are advised that all conditions precedent to the Odd-lot Offer have now been
    fulfilled and that the Odd-lot Offer is accordingly unconditional, and Implats will proceed with implementing the
    Odd-lot Offer.

    The repurchased Odd-lot Holdings will be delisted with effect from the commencement of trading on or about
    Wednesday, 11 November 2020 and will thereafter be cancelled.

2. Salient dates and times

    Implats Shareholders are reminded of the following salient dates and times in relation to the Odd-lot Offer:

                                                                                                          2020


     Last day to trade to participate in the Odd-lot Offer                                 Tuesday, 3 November

     Implats Shares trade ex-Odd lot Offer                                               Wednesday, 4 November

     Forms of election and surrender to be received by the transfer
     secretaries in South Africa (Computershare Investor Services
     Proprietary Limited) and the United Kingdom (Computershare Investor
     Services plc (“Computershare UK”)) by 12:00 (SA time) or 10:00 (UK                    Friday, 6 November
     time)

     Record date for the Odd-lot Offer                                                     Friday, 6 November

     Odd-lot Offer closes at 12:00 (SA time) or 10:00 (UK time)                            Friday, 6 November
     Payment of the Cash Consideration to Certificated Odd-lot Holders who
     have accepted the Odd-lot Offer or who have made no election(4)                       Monday, 9 November

     Dematerialised Odd-lot Holders who have accepted the Odd-lot Offer or
     who have made no election will have their accounts at their CSDP or
     broker credited with the Cash Consideration                                           Monday, 9 November

     Results of the Odd-lot Offer released on SENS                                         Monday, 9 November

     Results of the Odd-lot Offer published in the press                                 Tuesday, 10 November

     Cancellation and termination of listing of Implats Shares repurchased in
     terms of the Odd-lot Offer expected on or about                                   Wednesday, 11 November

     Computershare UK to despatch cheque payments in respect of the Cash
     Consideration to Odd-lot Holders on the UK share register on or before(4)             Friday, 13 November

       Notes:
       1.     These salient dates and times are subject to amendment at the discretion of the Company. Any such
              amendments will be released on SENS.
       2.     All times quoted are local times in South Africa and in the United Kingdom.
       3.     Implats Shareholders may not dematerialise or rematerialise their Implats Shares after the last day to
              trade, being Wednesday, 4 November 2020 to Friday, 6 November 2020, both dates inclusive.
       4.     Odd-lot Holders on the United Kingdom share register are referred to paragraph 8.2.4 of the Circular,
              and are hereby advised that Implats has obtained the necessary approval from the SARB to remit the
              Cash Consideration to Odd-lot Holders who are non-residents of the Common Monetary Area via
              Computershare UK, whom will make payment to such Odd-lot Holders by cheque.


Johannesburg
27 October 2020

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Legal Adviser
Edward Nathan Sonnebergs Inc

Date: 27-10-2020 11:00:00
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