This announcement contains forward-looking statements within the meaning of the "safe harbour"
provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-
looking statements, including, among others, those relating to Lonmin’s and Sibanye-Stillwater’s
financial positions, business strategies, plans and objectives of management for future
operations, are necessarily estimates reflecting the best judgement of the senior management
and directors of Lonmin and Sibanye-Stillwater.
All statements other than statements of historical facts in this announcement may be forward-
looking statements. Forward-looking statements also often use words such as "anticipate",
"believe", "intend", "estimate", "expect" and words of similar meaning. By their nature, forward-
looking statements involve risk and uncertainty because they relate to future events and
circumstances and should be considered in light of various important factors, including those
set forth in this disclaimer. Readers are cautioned not to place undue reliance on such
statements.
The important factors that could cause Sibanye-Stillwater’s and Lonmin’s actual results,
performance or achievements to differ materially from those in the forward-looking statements
include, among others, changes in relevant government regulations, particularly environmental,
tax, health and safety regulations and new legislation affecting water, mining, mineral rights
and business ownership, including any interpretations thereof which may be subject to dispute;
economic, business, political and social conditions in the United Kingdom, United States, South
Africa, Zimbabwe and elsewhere; a further downgrade of South Africa’s credit rating; the ability
of Sibanye-Stillwater and Lonmin to comply with requirements that they operate in a sustainable
manner; the occurrence of hazards associated with underground and surface gold, PGMs and uranium
mining; the occurrence of temporary stoppages of mines for safety incidents and unplanned
maintenance; uncertainty regarding the title to any of Sibanye-Stillwater’s properties; changes
in the market price of gold, PGMs and/or uranium; fluctuations in exchange rates, currency
devaluations, inflation and other macroeconomic monetary policies; Sibanye-Stillwater’s future
business prospects; financial positions; debt position and Sibanye-Stillwater’s ability to
reduce debt leverage; plans and objectives of management for future operations; Sibanye-
Stillwater’s ability to service its bond instruments and comply with loan and other covenants;
the occurrence of labour disruptions and industrial action; changes in assumptions underlying
Sibanye-Stillwater’s and Lonmin’s estimation of their current mineral reserves and resources;
power disruption, constraints and cost increases; the ability to hire and retain senior
management or sufficient technically skilled employees, as well as their ability to achieve
sufficient representation of historically disadvantaged South Africans in management positions;
the ability to achieve potential synergies from the Transaction; the ability to achieve
anticipated efficiencies and other cost savings in connection with past, ongoing and future
acquisitions, as well as at existing operations; the success of Sibanye-Stillwater’s and Lonmin’s
business strategies, exploration and development activities; supply chain shortages and
increases in the price of production inputs; the adequacy of insurance coverage; failure of
information technology and communications systems and data privacy issues; the outcome and
consequence of any potential or pending litigation or regulatory proceedings or other