Sibanye Stillwater : Group Impact report 2023

OUR 2023 REPORTS

Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of PGM autocatalysts and has interests in leading mine tailings retreatment operations.

The Group is one of the world's largest primary producers of platinum, palladium, and rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt. The Group has recently begun to diversify its asset portfolio into battery metals mining and processing and increase its presence in the circular economy by growing its recycling and tailings reprocessing exposure globally. For more information, seewww.sibanyestillwater.com.

This report encompasses data pertaining to the financial year ended on 31 December 2023. As necessary or where pertinent, certain information has been incorporated subsequent to the year-end. Selected comparative data is provided between the periods from 2013 to 2023.

About our cover designs:

Our strategic differentiator Inclusive, diverse and bionic, is depicted in the cover as a fingerprint, with small markings that signify computer code. As technology becomes ever more capable and powerful, the fear exists of the possible loss of human individuality, the loss of our independent spirit. The design reminds us what this strategic differentiator points to, the potential for humanity to be enhanced through using technology ("bionic"), and the potential for uniqueness and diverse individual identity to find its expression in service to our vision and purpose. We value the contributions of our employees (each having left their unique "fingerprint" on our business) and we honour their commitment to our values, which ripples out, amplifying the Group's capacity to innovate and evolve.

All of our 2023 reports, together with supporting documents, are available on our website:

www.sibanyestillwater.com/news-investors/reports/annual

SUPPORTING FACT SHEETS AND SUPPLEMENTARY INFORMATION AVAILABLE ONLINE

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• Group Impact supplement 2023
• Progressing the UN's SDGs
• Environmental incidents in 2023
• Biodiversity management
• Social and labour plans (SLPs): Summary of projects
• Climate change supplement
• Sustainability content index
• Tailings management
• Care for iMali: Taking care of personal finance
• Combating illegal mining
• Sibanye-Stillwater'sICMM self-assessment for 2023
• The Good Neighbor Agreement
• Definitions for sustainability/ESG indicators
• Application of King IV Principles in 2023
• ESG scorecard for the long term incentive (LTI) awards

CONTENTS

ABOUT THIS REPORT

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This report aims to demonstrate our contribution in the regions in which we operate by presenting our economic, social and environmental impact on stakeholders. Through this report, we aim to promote an understanding of the Group's long-term socioeconomic and environmental impact.

This report contains information for the financial year ended 31 December 2023. Where relevant or otherwise required, additional information is included up to 26 April 2024. Selected comparative data is provided for period between 2013 and 2023. Additionally, more detailed information can be found in our Integrated report, which is available on our website.

See www.sibanyestillwater.com/news-investors/reports/annual

Methodologies applied:

• Employee tax for SA region includes, personal income tax, skills development levy, and a contribution to the unemployment insurance fund
• Employee tax for the US region includes FICA, Medicare, FUTA, State Unemployment
• Employee tax for the AUS region includes personal income tax, inclusive of various government related levies
• Employee tax for the EU region includes pension insurance, health insurance, accident insurance, unemployment insurance and group life insurance
• Direct jobs created in SA region is calculated using a five-year average of employees with the labour multiplier of 3 and indirect jobs is calculated using a five-year average of contractors employed
  with the labour multiplier of 3
• The economic benefit for supplier development spend for SA region is calculated using a five-year average of supplier development spend with the economic multiplier of 2 (Mineral Council recommended multiplier as developed by www.easydata.co.za)

OUR PURPOSE

OUR VISION

OUR STRATEGY

TO SAFEGUARD GLOBAL SUSTAINABILITY THROUGH OUR METALS

This purpose statement reflects our aspiration to make a positive social and environmental impact through the commodities we mine and produce (green metals) and how we do so (ESG embedded as the way we do business), not least through our role in contributing to decarbonising the global economy.

TO BE A LEADER IN SUPERIOR SHARED VALUE FOR ALL STAKEHOLDERS

This vision statement speaks to our conviction that responsibly-derived minerals (mining that minimises harm to people and the planet) are the source of significant economic, social and environmental benefit to society, both globally and locally.

Our strategy speaks to our ambition to secure for the Group a position in the global resources sector as a progressive, forward-thinking provider of green metals and energy solutions.

Our strategy has a three-dimensional approach, in which our priorities are layered in terms of: strategic foundation; strategic essentials; strategic differentiators. We unpack our strategy in the Integrated report 2023, see page 48.

OUR GEOGRAPHICAL PORTFOLIO

A UNIQUE GLOBAL PORTFOLIO OF GEOGRAPHICALLY DIVERSIFIED ASSETS UNDERPINNED BY GREEN METALS

LISTINGS

JSE Limited share ticker: SSW

NYSE ADR ticker: SBSW

MARKET CAP

R61.4 billion/US$3.3 billion

Rounded as per close on 31 March 2023

• Non-managed

PGM = platinum group metals, Au = gold,

Cu = copper, LCE = lithium carbonate equivalent,

Zn = Zinc, U3O8 = uranium

Mineral Resources are inclusive of Mineral Reserves

1. Verkor is a planned French gigafactory in which Sibanye-Stillwater participates through a convertible bond and equity. Verkor's headquarter is located in Grenoble, but planned plant is to be located in Dunkirk (just north of Sandouville)
2. Mt Lyell is a copper asset in Tasmania which

is currently on care and maintenance. A feasibility study, which considers the

re-establishment of the operation, is underway

3. Acquisition effective March 2024

GOVERNANCE OF OUR IMPACT

OUR GEOGRAPHIC PORTFOLIO

OUR PRODUCTS AND MARKETS

CHIEF SUSTAINABILITY OFFICER'S MESSAGE

CELEBRATING SHARED VALUE

SUSTAINABLE DEVELOPMENT GOALS

SUMMARY OF IMPACT 2023

IMPACT BY OPERATION

GOVERNANCE OF OUR IMPACT

OUR PRODUCTS AND MARKETS 2023

This report primarily focuses on the impact resulting from our business activities and the products we currently produce - namely gold, platinum group metals (PGMs), and battery metals - which generate a variety of impacts, depending on the markets in which they are sold,

and their use and application.

68%

GREEN

REVENUE FACTOR

The FTSE Russell green revenue factor; defined by FTSE Russell as the percentage of revenue that is derived from products that have a positive environmental utility which help prevent, restore and/or adapt to issues deriving from climate change, natural resource limitations and environmental degradation.

SA gold operations

Primary product is gold

Sandouville nickel refinery

Primary product is nickel and related salts

SA PGM operations

Primary metals produced are platinum, palladium, rhodium and gold (4E) Secondary PGMs - iridium, ruthenium - as well as chrome, copper and nickel produced as by-products

US PGM operations

Primary metals produced are palladium and platinum (2E) Recycling of PGMs - platinum, palladium and rhodium (3E)

Keliber lithium project

Primary product will be lithium hydroxide, a compound used in lithium-ion batteries

Century tailings retreatment

Sibanye-Stillwater owns and operates the zinc tailings retreatment operation in Queensland, Australia

PGMs market

Sibanye-Stillwater sells the PGMs and by-products produced internationally to primary markets in Germany, Hong Kong, Japan, the United Kingdom and the United States. PGMs are mostly sold in the form of refined bars, powder or sponge. Primary uses of PGMs:

Lithium, nickel and zinc markets

Gold market

Gold ore is processed at the mines' gold plants to produce doré (unrefined gold bars). The doré is refined by Rand Refinery to a purity of at least 99.5%, in accordance with the London Bullion Market Association's standards of 'good delivery'. The refined gold bars are sold directly to international bullion banks. Principal areas of gold demand are:

CHIEF SUSTAINABILITY OFFICER'S MESSAGE

IMPACT BY OPERATION

GOVERNANCE OF OUR IMPACT

A strategic essential for Sibanye-Stillwater is about ESG embedded as the way we do business. By placing sustainability and the UN SDGs at the heart of our value creation efforts, we will be Recognised as a force for good (one of our strategic differentiators).

In this regard, highlights for 2023 include conformance to the Global Industry Standard on Tailings Management (GISTM) for very high and extreme consequence tailings storage facilities, and the completion of a detailed climate change scenario analysis. The scenario analysis evaluated the vulnerability of our business down to asset level in terms of physical and transitional risks, and financial impact. This is the ideal foundation for us to develop transformative actions to combat the impacts of climate change, as required by SDG 13.

To further drive sustainability, as part of the long-term incentive programme, we have an

ESG scorecard. The first ESG scorecard came into effect in 2021 and has progressed to achieve an average of 119,73% for its first three years. Our ESG scorecard drives the reduction of carbon emissions, water management, diversity and inclusion, as well as socioeconomic impacts.

The Sibanye Foundation NPC is now established, with donations having been disbursed to positively impact where we operate. To date the total allocation of R212 million has been made. R42 million has been distributed to projects in the SA and EU regions through the Sibanye Foundation NPC, with the aim to promote inclusive societies for sustainable development, as anchored by SDG 16. One of the first projects through the Foundation has given 1,200 children access to adequate sanitation facilities at schools in the Eastern Cape and Limpopo provinces, South Africa. The value we have shared with our communities through socioeconomic development and corporate social investment (CSI) programmes has also increased significantly over the last 11 years, from just over R1 billion (US$109 million) in 2013, to over R2.7 billion (US$146 million) in 2023, a 156% increase. The cumulative value flow to communities over the last 11 years amounts to R17 billion/US$1 billion.

Building sustainable development capability throughout Sibanye-Stillwater is key to drive a responsible and transformative culture, but it also enables conversations across the business on what sustainability should look like and, to this end, we have launched Sustainability thought leadership dialogues. The inaugural Sustainability thought leadership dialogue series took place in October 2023, titled "Facilitating a just transition to post-mining economy". A capacity-building programme in partnership with DukeCE was also launched; with modules focused on embedding ESG as core

to the business, and leading in ESG.

The Group has continued to grow its global footprint, with the Century operations in Australia also now forming part of this Impact report. We remain a significant employer, supporting a great number of employees and their dependents globally. In 2013, we employed a mere 36,274 people, including contractors, exclusively in South Africa. By 2023, this had increased by 128% to 82,788 worldwide, with the majority of our workforce continuing to be in South Africa.

Much work lies ahead, especially closing the gaps identified through our human rights due diligence risk assessments. Our impact priorities for 2024 will be to continue executing our Energy and decarbonisation strategy (investing in renewables to reduce absolute GHG emissions), completing a socioeconomic study for all regions, investing in economic circularity, and leveraging our assets for impact post-mining.

This Impact report supplements our Integrated report and other supporting reports, which provide a comprehensive perspective on Sibanye-Stillwater's economic, social, and environmental performance. It is intended to provide specific coverage of the impact being made by our operations in society through delivery of shared value to all stakeholders.

26 April 2024

OUR GEOGRAPHIC PORTFOLIO

OUR PRODUCTS AND MARKETS

CHIEF SUSTAINABILITY OFFICER'S MESSAGE

CELEBRATING SHARED VALUE

SUSTAINABLE DEVELOPMENT GOALS

SUMMARY OF IMPACT 2023

IMPACT BY OPERATION

GOVERNANCE OF OUR IMPACT

2013

36,274 employees incl. contractors

R6.16 billion paid in salaries and benefits

R1.05 billion invested in socioeconomic development and CSI and R2.9 million on BEE procurement spend

R554 million taxes and royalties1

R316 million invested in training and development

2023

82,788 employees incl. contractors

R30.6 billion paid in salaries and benefits

R2.7 billion invested in socioeconomic development and CSI and R25 million on BEE procurement spend

R4.1 billion taxes and royalties1

R1 billion invested in training and development

~R1.1 billion paid over the last two years (2022 & 2023) to over 65,000 beneficiaries in the form of dividends and other employee share option scheme payments

OUR GEOGRAPHIC PORTFOLIO

OUR PRODUCTS AND MARKETS

CHIEF SUSTAINABILITY OFFICER'S MESSAGE

CELEBRATING SHARED VALUE

SUSTAINABLE DEVELOPMENT GOALS

SUMMARY OF IMPACT 2023

IMPACT BY OPERATION

GOVERNANCE OF OUR IMPACT

Leaves of the Umdoni tree

Represents all our stakeholders

Employees and organised labour

Communities

Government

Shareholders

Suppliers

Customers

Environment

Company

Fruits of the Umdoni tree

Signifying the shared value to our stakeholders