RBPlat Coffee Table Book 2022

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4 5 ‘PATIENCE AND FORTITUDE CONQUER ALL THINGS’ Ralph Waldo Emerson

6 7 Patience and fortitude is the philosophy underlying the birth and growth of Royal Bafokeng Platinum Limited (RBPlat). From the very beginning, when the Bafokeng first settled in the Rustenburg valley, they faced adversity. Through hard work, dedication and fortitude, they managed to overcome these challenges to lay the foundation for a mining company built on strength, ambition and community. R O YA L B A F O K E N G P L AT I N U M O U R B E G I N N I N G S Natural landscape surrounding BRPM operations

8 9 ‘Every generation of Bafokeng has had an opportunity to plant a seed, leave a legacy, make a real difference!’ Kgosi Leruo Molotlegi (February 2012) Fortitude is deeply embedded in the history and culture of the Royal Bafokeng Nation, the people who initiated and shaped what RBPlat is today. In the 1800s, the then Bafokeng King, Kgosi August Mokgatle, used immense fortitude to devise a plan to buy back the Bafokeng land appropriated by colonialists. Then, through most of the 1900s, following the discovery of the world’s largest deposits of platinum group metals on Bafokeng land, the Bafokeng fought an ongoing battle for their mineral rights. The court settlement in 1999 with Impala Platinum Holdings Limited (Implats) gave the Bafokeng royalties on all platinum mined from their territory, which was subsequently converted to an ownership stake in Implats. This was to be followed by a 50:50 joint venture with Anglo American Platinum Limited (Amplats) in 2002, which allowed for the expansion of another mine (Styldrift), which began in 2009. The joint venture would later become a launching pad for Royal Bafokeng Platinum (RBPlat).

10 11 RBPlat has since grown into a strong mid-tier platinum group metals (PGMs) producer, mining the Merensky and UG2 Reefs. To date, one of the biggest milestones shaping RBPlat’s growth was when it acquired the last remaining participation interest in the joint venture which belonged to Amplats. This made RBPlat sole owner of its operations and laid the path for further growth. The company’s strength lies in its access to both the Merensky and UG2 Reefs and two concentrator plants. Organic growth has been achieved through Styldrift, which is a high-margin mechanised operation. RBPlat’s success is largely a result of agile and dynamic decision makers, with in-depth operational experience. One of the biggest defining features of RBPlat is that it has always fought for the good of the community. This is embodied in the company’s commitment to deliver ‘More than Mining’, by filtering prosperity to its local communities, and ensuring their long-term sustainability. The company invests heavily in community infrastructure, healthcare, education and skills development in its local communities. RBPlat has a firm commitment to its employees, which is evident in its value of ‘Safety and People First’. It strives for zero harm at all its operations so that every employee goes home safely to their families each day. Exploration team mapping geological structures and conducting fieldwork

12 13 Fortitude, says writer Hilary Mantel, means fixity of purpose. It means endurance. It means having the strength to live with what constrains you. This is the thread that runs through the story of RBPlat. Look at the beautiful and striking images, each of which tells a story. Read the stories of the RBPlat communities. You will see how, in the end, fortitude always wins. F O R T I T U D E A LWAY S W I N S BRPM North shaft employees

14 15 The growth of RBPlat is linked intrinsically with the history and culture of the Bafokeng people. Bafokeng means ‘People of the dew’, and tradition tells that when the Bafokeng settled in the Rustenburg valley, the grass captured heavy overnight dew, holding the promise that the land would be fertile and the community would prosper. This is what RBPlat stands for today – mining that is used for good and that brings goodness and prosperity to the people it serves. A H E R I TA G E B U I LT O N D O I N G G O O D Kgosi Leruo Molotlegi engaging with community members Image Credit: Royal Bafokeng Holdings

16 17 History shows us that Kgosi August Mokgatle (1834 - 1891) showed immense foresight in the early days, when he sent regiments to the diamond mines in Kimberley and used the earnings to buy back the land, following the appropriation of the land by the colonialists. Thirty-three years after Kgosi Mokgatle’s death, a part of the reef containing the world’s largest deposit of PGMs was discovered on Bafokeng land. As a result of Kgosi Mokgatle’s purchasing of the land, the Bafokeng were eventually (after the dismantling of apartheid) able to claim royalties from PGM companies mining on their land. H I S TO R Y M A R K E D B Y R E S I L I E N C E Kgosi August Mokgatle pictured with three of his sons Image Credit: National Archives and Records Services of South Africa

18 19 A group of Bafokeng men en-route to the Kimberley diamond mines - 1871 Image Credit: Royal Bafokeng Archives Traditionally farmers, the Bafokeng’s livelihood changed following the discovery of the Merensky Reef on their land in 1925. The reef is one of the richest platinum deposits in the world and, on its discovery, white-owned companies began entering into mineral contracts with the Bafokeng to prospect for platinum. The Bafokeng earned royalties but these were compromised by the government’s oppressive policies, and collusion between the mining companies and the apartheid and Bophuthatswana Homeland governments. Following the dismantling of apartheid in the 1990s, the Bafokeng sought recourse from the courts to determine their rights. A court settlement in 1999 with Implats; the third-largest PGM producer in the world, gave the Bafokeng a 22% royalty on all PGMs mined from their territory and this was later converted into an ownership stake in Implats. D I S C O V E R Y O F P L AT I N U M R E I G N I T E S T H E PAT H T O G R O W T H

20 21 A view of the BRPM concentrator plant

22 23 Various geological samples from the RBPlat operational area, demonstrating the broad spectrum of rock types and associated mineralogy BRPM concentrator plant

24 25 In 2002, Amplats through its wholly-owned subsidiary, Rustenburg Platinum Mines Ltd (RPM), formed a 50:50 joint venture with the Bafokeng, through Royal Bafokeng Resources (Pty) Ltd (RBR), known as the Bafokeng Rasimone Platinum Mine Joint Venture (BRPM JV). V E N T U R I N G W I T H T H E P L AT I N U M K I N G S Styldrift sod-turning ceremony - 06 Nov 2008 L – R: Neville Nicolau, Amplats CEO (2008 – 2012); Jerry Thibedi, North West Province Member of Executive Council for Public Works (2007 – 2009); Fritz Neethling, Amplats Executive Head: Projects and Engineering (2008 – 2010) and Prince Bothata Molotlegi of the Royal Bafokeng Nation

26 27 RBPlat CEO, Steve Phiri and employees at the listing of RBPlat on the JSE on 8 November 2010 The Bafokeng increased their participating interest to 67%, gaining operational control of the BRPM JV, and resulting in the restructuring of the joint venture in 2009. This paved the way for the listing of RBPlat on 8 November 2010, becoming the first community-owned business to be listed on the Johannesburg Stock Exchange (JSE). In December 2018, RBPlat acquired Amplats’ 33% interest in the joint venture for R1 863 million, becoming sole owner of the assets. L I S T I N G O N T H E J S E I N 2 0 1 0

28 29 Miner at the Styldrift Reef intersection (2012) Image Credit: Katherine-Muick Mere (Business Live) 600 Level station cutting - Main shaft at Styldrift

30 31 Central to the company’s strategy is achieving More than Mining. RBPlat aims to be a focused PGMs producer, offering a clear value proposition to outperform the market. In line with its More than Mining philosophy, the company has a proud track record of positive social impact as a transformation leader. A performance-driven culture and aspiration to zero harm underlie the company’s goal to consistently achieve operational excellence. Assets are managed with high optionality and flexibility, which allow quick and appropriate action to changing market conditions. Organic growth is achieved through internal expansion and value enhancing opportunities. R O YA L B A F O K E N G P L AT I N U M A S O L I D B U S I N E S S S T R AT E G I C P I L L A R S 01 Towards operational EXCELLENCE Build flexibility to ensure SUSTAINABILITY Pursue value enhancing OPPORTUNITIES Grow ORGANICALLY 02 03 04

Robin Mills Independent Director Martin Prinsloo Chief Financial Officer and Executive Director Steve Phiri Chief Executive Officer and Executive Director Adv Kgomotso Moroka Chairperson and Independent Director David Noko Independent Director Linda de Beer Independent Director Mike Rogers Non-Executive Director Nico Muller Chief Operating Officer and Executive Director Prof Francis Petersen Independent Director Over the years, RBPlat has been led by a team of strong, committed and dedicated Board members and Executive Committee members. The teams have shown effective leadership through ensuring governance, good performance and subscribing to ethical leadership. S T R O N G L E A D E R S H I P 32 33 Obakeng Phetwe Chairperson and Non-Executive Director Steve Phiri Chief Executive Officer Mzila Mthenjane Executive: Business Sustainability Nico Muller Chief Operating Officer Martin Prinsloo Chief Financial Officer Vicky Tlhabanelo Executive: Human Resources er Steve Phiri Chief Executive Officer and Executive Director Hanre Rossouw Chief Financial Officer and Executive Director Louisa Stephens Independent Director Peter Ledger Independent Director Mark Moffett Independent Lead Director Zanele Matlala Independent Director Udo Lucht Non-Executive Director Thoko Mokgosi Mwantembe Independent Director Mike Rogers Independent Director R B P L AT B O A R D M E M B E R S 2 0 1 0 R B P L AT B O A R D M E M B E R S 2 0 2 1

Obakeng Phetwe Chairperson and Non-Executive Director Steve Phiri Chief Executive Officer Mzila Mthenjane Executive: Business Sustainability Nico Muller Chief Operating Officer Martin Prinsloo Chief Financial Officer Vicky Tlhabanelo Executive: Human Resources Steve Phiri Chief Executive Officer and Executive Director Hanre Rossouw Chief Financial Officer and Executive Director Louisa Stephens Independent Director Peter Ledger Independent Director Mark Moffett Independent Lead Director Zanele Matlala Independent Direct Udo Lucht Non-Executive Director Thoko Mokgosi Mwantembe Independent Director Mike Rogers Independent Director Lindiwe Montshiwagae Executive: Investor Relations and Corporate Communications Steve Phiri Chief Executive Officer Neil Carr Chief Operating Officer Hanre Rossouw Chief Financial Officer Vicky Tlhabanelo Executive: Human Resources R B P L AT E X E C U T I V E C O M M I T T E E 2 0 1 0 R B P L AT E X E C U T I V E C O M M I T T E E 2 0 2 1 34 35

2002 2010 2012 2009 2011 2013 2014 2016 2018 2015 2017 2019 2020 2021 The JV was restructured in 2009 resulting in RBPlat’s participating interest in the BRPM JV increasing from 50% to 67% The development of Styldrift commenced MAJOR PROJECTS UNDERTAKEN Increased flexibility through extraction of UG2 and IMS generation BRPM CREATES FLEXIBILITY Commenced with Styldrift life of mine infrastructure development MECHANISED MINING Royal Bafokeng Nation (RBN) and Anglo American Platinum (Amplats) agree on a 50:50 investment in Bafokeng Rasimone Platinum Mine Joint Venture (BRPM JV) 50:50 INVESTMENT Took over operational control of the BRPM JV Listed RBPlat on the JSE on 8 November RBPLAT LISTING Equipping of Main shaft commences STYLDRIFT MAIN SHAFT Styldrift Main shaft commissioned COMMISSIONING OF STYLDRIFT Purchase of Maseve operations MASEVE Entered into a gold streaming agreement with Triple Flag Mining Finance Bermuda Limited to receive upfront cash payment of US$145 million A YEAR OF TRANSITION Maiden dividend of R1.5 billion declared in March Interim dividend of R1.5 billion declared in August Buy-back of convertible bonds of R482.3 million RETURNING CASH TO INVESTORS Concentrator upgraded to 250ktpm BRPM PLANT UPGRADE Over R1 billion invested in SLPs and mandatory training between 2010 and 2018 RBPlat acquired the full title of the Amplats 33% interest in the BRPM JV R1.1 BILLION INVESTMENT Returning a minimum of 10% of free cash flow before growth capex to shareholders RBPLAT ANNOUNCES DIVIDEND POLICY Styldrift Main shaft Merensky Reef intersection and establishment of 600 Level STYLDRIFT SHAFT SINKING MILESTONE 36 37 1 0 - Y E A R M I L E S TO N E S

38 39 A view of the Styldrift Main and Services shafts and bank areas

40 41 Installation of hanging wall support with a mechanised bolt at Styldrift

42 43 BRPM concentrator plant run of mine stockpile The flotation process used to recover PGMs in concentrator plants

44 45 In stope face drilling – UG2 Central High Reef Facies

46 47 Drilling of a stope face in a mechanised bord and pillar section at Styldrift

48 49 An employee travelling on the South shaft man-riding belt Employees proceeding to surface on the South shaft chairlift at the end of their shift

50 51 A centre gully winch in operation at BRPM Load Haul Dumper (LHD) preparing to tip ore onto a strike belt at Styldrift 600 Level

We have always recognised the important role that relationships play in our ability to deliver on our purpose, and building and maintaining mutually beneficial relationships with our stakeholders is an integral part of our value creation process. Our constructive engagement processes and strong relationships with the communities in which we operate, our employees, our Union and society as a whole, are key to maintaining our social licence to operate and creating value for society. Our relationship with the Union is characterised by regular consultation and collaboration on various employee matters, which is demonstrated by the signing of our landmark three-year wage agreement in 2011, and again the signing of two subsequent five-year wage agreements, which were the first for the mining industry. We understand that ongoing positive relationships with our Union and employees is critical to ensuring the stability of our business. Over the years, labour stability and employee engagement have proved to be our key strengths and they have always been driven by mutual respect and teamwork. In addition, our strong community relationships fostered through established community engagement structures, have allowed us to deliver on our Social and Labour Plan commitments and contribute to the delivery of our aspiration of achieving More than Mining. M O R E T H A N M I N I N G CEO employee engagement session Delegates from the European Union Commission visiting Waterkloof Hills Estate in 2015 RBPlat’s Collin Alexander with Geoffrey Moatshe, NUM Rustenburg Regional Secretary at the signing of the second five-year wage agreement in 2019 52 53

Over the past 10 years, RBPlat has invested over R1 billion in social and labour plan projects that support and help its local communities of Mafenya, Chaneng, Robega and Rasimone villages. These projects have mainly focused on education, healthcare, basic infrastructure upgrades, community skills development, poverty alleviation and job creation. S U S TA I N A B L E D E V E L O P M E N T O F O U R C O M M U N I T I E S 54 55 Proud owner of a newly constructed home; a project of RBPlat over the past 10 years to rebuild homes for families in need

RBPlat, in consultation with the Royal Bafokeng Administration’s (RBA) infrastructural planning committee, undertook projects to upgrade portions of roads in Robega, Mafenya and Chaneng to improve community infrastructure. In addition, RBPlat also constructed the Grade R Classroom at Rasimone Primary School, upgraded the Clinic in Chaneng, and provided ICT infrastructure to six schools in the community. INFRASTRUCTURE DEVELOPMENT Following consultation with community leadership structures regarding the identification of families in need, 87 houses of 80m² each were constructed, and handed over to identified families over the past 10 years. COMMUNITY HOUSING RBPlat’s employee home ownership scheme is realised in the development of Waterkloof Hills Estate, in Rustenburg, which is being completed in phases for RBPlat employees. Employees are assisted in assessing the financial commitments of purchasing a home, as well as the benefits of investing in their own home. RBPlat also provides employees living on the Estate with subsidised bus transport to and from the mine. In addition, a school is being built on the Estate which will cater for 2 000 learners. To date over 1 400 families have purchased homes on the Estate. EMPLOYEE HOME OWNERSHIP Some of our social development projects for our communities and employees include: Paved sidewalks on Mafenya Road by RBPlat Proud beneficiaries of a newly constructed home Homeowners at Waterkloof Hills Estate Kgosi Leruo Molotlegi, Advocate Kgomotso Moroka (former RBPlat Chairperson), Albertinah Kekana (RBH CEO) and Steve Phiri (RBPlat CEO) at the 2014 launch of Waterkloof Hills Estate (WHE), our employee home ownership scheme 56 57

RBPlat’s education support funding also supports an education intervention at Charora High School, which serves the MACHARORA local communities. Both the maths and science classrooms were renovated and provided with updated equipment. RBPlat has also funded the salaries of additional experienced maths and science teachers. The programme has steadily improved the quality of the maths and science results, and learner performance. A FOCUS ON MATHS AND SCIENCE The annual RBPlat bursary programme is aimed at supporting local learners to pursue tertiary education opportunities. Canadian-based Triple Flag Precious Metals Corporation, with which RBPlat signed a gold streaming agreement in October 2019, invests US$100 000 annually in a fully funded bursary programme over the life of the stream. The programme commenced with the 2020 academic year and these bursaries, which are available for engineering, geological and other technical degrees, are expected to benefit more than 50 undergraduates from local communities as well as family members of RBPlat employees, each year. BURSARIES FOR GRADUATES RBPlat has a scholarship programme at Kitsong High School in Phokeng. The aim is to make quality private schooling accessible to the local community. The quality of the education offered at the school is reflected in its excellent matric results. To encourage primary school children in local communities to study maths and science, scholarships are provided to selected Grade 8 learners at Kitsong High School, from local communities. SCHOLARSHIPS FOR LEARNERS RBPlat invests in the Thutho Thebe Educational Fund founded by the late Queen Mother, Dr Semane Molotlegi of the Royal Bafokeng Nation to improve education standards in the community. The Fund focuses on teacher development, providing educational resources and materials for schools and strengthening school management structures and school governing bodies, while training parents to provide guidance on their children’s schoolwork. TEACHER DEVELOPMENT Community members attending the Adult Education Training (AET) facilitated by RBPlat Charora High School learners enjoying the upgraded AstroTurf soccer field funded by RBPlat Charora High School learners who were part of the RBPlat Maths and Science programme 58 59

60 61 Waterkloof Hills Estate - RBPlat employee housing development

Most recently, RBPlat’s contribution to health support was mainly invested in infrastructure. An upgrade to the Chaneng Clinic serving local communities, included the ablution facility, two consulting rooms and the provision of security guarding at the clinic. Construction of a much-needed new forensic pathology facility in Phokeng now serves the needs of the communities and mines in this area. RBPlat also assists the Department of Health with the tracking of potential tuberculosis hotspots in the community. In 2020, RBPlat converted its Maseve Mine, South shaft Change House, into a 200-bed hospital (RBPlat COVID-19 Field Hospital) to provide initial COVID-19 medical treatment to its employees and communities, and also partnered with government and other roleplayers in the private sector to provide innovative solutions to the health challenges presented by the COVID-19 pandemic. H E A LT H I N F R A S T R U C T U R E 62 63 COVID-19 protocols observed at the BRPM Clinic

64 65 Health screening and testing of employees at the RBPlat Clinic Blood pressure screening of employees at the RBPlat Clinic Clinic nurse conducting a medical assessment at the Chaneng Community Clinic

Our graduate development programme provides young graduates with an opportunity to gain meaningful and structured workplace experience and also to create a talent pipeline for RBPlat. This is also supported by our internship programme which offers learners an opportunity to complete the practical training required to gain a qualification and be eligible for employment. Successful learners in the portable skills training programme often move on to learnership programmes. G R O W I N G Y O U N G M I N E R S 66 67 Basic electro-hydraulic training at the Styldrift Training Centre Induction refresher training at the Styldrift Training Centre

Youth from Robega village who received a Mining Qualifications Authority (MQA) sponsored electrical training, undertaking practical work at some of our newly built houses at Waterkloof Hills Estate RBPlat’s poverty alleviation and job creation programmes focus on providing community members with the skills and resources to build a better life. Being able to produce food not only gives community members a potential source of income, but also helps them feed their families. RBPlat supports community members with training in food production and also provides them with farming starter packs to enable them to start small-scale vegetable or poultry farming. A C H A N C E AT A B E T T E R L I F E 68 69

A community member’s home vegetable garden, following her completion of the crop farming training at the Buhle Farmers’ Academy RBPlat funded training courses at the Buhle Farmers’ Academy, which allows community members like Ms Lenah Mabonda from Robega village, to earn a living from chicken farming 70 71

Mining and agriculture are the main sources of income in the North West province, and drought has badly affected local subsistence cattle farmers. To assist them, RBPlat has developed a database of livestock, installed a spray race system and sprayed, tagged and treated the animals. The company also repaired the existing dam, built a new dam and is working on installing a windmill and a borehole. RBPlat continues to support the farmers through a livestock feeding programme, which, in line with commercial farming methodologies, provides feed during the dry months when grazing runs out. Using a local company, we also supplied and installed a 4.1 kilometre cattle fence to protect community livestock. H E L P F O R L O C A L C AT T L E FA R M E R S Cattle from MACHARORA communities grazing on fields near RBPlat’s South shaft mine 72 73

RBPlat has developed a strategy aimed at providing support for local businesses and SMMEs to help them grow and become sustainable. This includes offering business development, funding assistance and vendor registration support to local businesses via the RBPlat Enterprise and Supplier Development (ESD) Centre, as well as access to boardrooms and computer and printing facilities. Through the RBPlat ESD Centre, local businesses now have preferential access to procurement opportunities at RBPlat operations, which support their growth and sustainability. H E L P I N G L O C A L B U S I N E S S E S B E C O M E S U S TA I N A B L E Community members attending an SMME training course at the ESD Centre 74 75

BRPM North shaft employees 76 77

View of the Maseve primary mill and mill feed silo 78 79

A view of the Maseve MF1 floatation circuit A C K N O W L E D G E M E N T S With thanks and appreciation to the various people and organisations who have contributed to Royal Bafokeng Platinum over the past 10 years. The list is not exhaustive and is by no means fully inclusive. • Albertinah Kekana • Andrew Jackson • Bongani Nqwababa • Chris Griffiths • Glenn Harris • Martin Prinsloo • Neville Nicolau • Niall Carroll • Nico Muller • Pieter Rorich • Royal Bafokeng Nation Leadership • Anglo American Platinum • Department of Mineral Resources and Energy • Minerals Council South Africa • National Union of Mineworkers (NUM) • NUM Trade Union Co-Ordinator - Ernest Molapisi • RBPlat Board of Directors • RBPlat Communities • RBPlat Employees • RBPlat Security holders • RBPlat Suppliers 80 81

ROYAL BAFOKENG PLATINUM The Pivot No 1 Montecasino Boulevard Block C, 4th floor Fourways www.bafokengplatinum.co.za 84

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