Northam Platinum : Summarised financial results and group statistical information for the year ended 30 June 2022

Mining that matters

Mining and processing of Platinum Group Metals (PGMs) is complex. The conversion of mined ore to saleable metal involves several stages of metallurgical processing.

Northam Platinum Holdings Limited (Northam Holdings, Northam or the group) is an integrated, mine to market PGM producer. Integral to our ongoing production growth strategy has been our investment in expanding the capacity and flexibility of our downstream metallurgical processing facilities. This is enabling us to treat growing production from our own operations together with that of our PGM recycling business, as well as to offer downstream processing services to other producers.

Our metallurgical operations are located at the Zondereinde mine, and comprises smelter and base metal removal facilities. Our main smelter facility boasts two independent furnaces, furnace 1 and furnace 2, which treat primary concentrates from mining. Each furnace has dedicated upfront dryers, and two separate

and interchangeable iron-reduction convertors. In addition, we have recently commissioned a dedicated recycling smelter facility comprising two furnaces and their supporting infrastructure.

The smelter facilities produce convertor matte, which feeds our base metal removal plant, wherein nickel is recovered as a nickel sulphate precipitate, and pure copper plate is extracted in an electro-winning circuit. The remaining high-grade PGM concentrate at this stage is shipped to our toll refiners for separation into final saleable metals. We sell these metals to our customer base.

The photograph on the front cover of this report shows molten matte being tapped from our number 1 smelter furnace which was rebuilt and upgraded during the first half of this financial year.

Contents

Introduction

• Introduction and scope of report

Business overview

• Key features of the year

• What investors need to know about the F2022 results
  10 Our growing operations
  12 The year at a glance
  16 Our investment in RBPlat
  18 Cash impact of the Composite Transaction and our investment in RBPlat 20 CEO Q&A - A recap on our strategy and beliefs
  26 New shaft access world record
  28 Growth on track
  30 Full build on target
  32 Upgrading for the future
  36 Operational guidance for F2023
  37 The next five years
  38 Our country, our contribution
  40 Our environmental impact
  44 The Buttonshope Conservancy Trust
  46 Our contribution to our employees and host communities 50 Women in mining - A message from Paul Dunne
  54 Five-year performance highlights
  56 Group and operational performance

1. Group Environmental, Social and Governance metrics

1. Results commentary

Summarised financial results

1. Consolidated statement of profit or loss and other comprehensive income
2. Consolidated statement of financial position

1. Consolidated statement of changes in equity

1. Consolidated statement of cash flows

1. Notes to the summarised financial results

Additional information

1. Summary Mineral Resources and Mineral Reserves

1. Glossary

1. Composite Transaction Glossary

1. Administration and contact information