Dealings in securities

Name   NJ Froneman
Position   Chief Executive Officer
Company   Sibanye Stillwater Limited
Nature of interest   Direct and Beneficial
Class of securities   Ordinary shares
Nature of transaction   Off-market restructure of collar hedge over 4 744 961 ordinary shares of the Company with a put strike price of R45.98 call strike price of R67.02 and expiry on 30 November 2023
Total value of transaction   R218,173,306.78

Mr Froneman entered into and restructured equity funding arrangements with a financial institution that consisted of loan agreements securitised by simultaneous collar hedges and equity lending transactions. The transactions contained in this announcement relate to the existing hedges previously disclosed in the dealings announcements dated 9 October 2019 and 12 December 2019.

In terms of paragraph 3.66 of the Listings Requirements, the necessary clearance to deal in the above securities has been obtained.