Platinum Group Metals (PTM) Registration filing summary

Company overview and business model

• Focuses on exploration and development of platinum group metals (PGM) projects, primarily the Waterberg Project in South Africa.

• Holds a controlling 50.16% interest in the Waterberg JV, with other partners including Implats, HJM, JOGMEC, Hanwa, and Mnombo (BEE partner).

• Waterberg Project is a large-scale, mechanized underground mine targeting platinum, palladium, rhodium, gold, copper, and nickel.

• No other material mineral properties; continues to evaluate new exploration opportunities.

Financial performance and metrics

• As of August 31, 2023, and May 31, 2024, financial statements are prepared in USD, with functional currency in CAD and South African subsidiaries in Rand.

• Negative operating cash flow and history of losses; expects continued losses until Waterberg Project reaches commercial production.

• Raised $2.5 million in a private placement in 2024 for pre-development costs and working capital.

Use of proceeds and capital allocation

• Net proceeds from securities sales will fund business objectives, ongoing operations, working capital, debt repayment, capital programs, and potential acquisitions.

• Proceeds may also be used to fund negative cash flow from operations.