Sibanye Stillwater (SBSW) Strategy update summary

Strategic vision and operating context

• Focus on performance excellence and delivering metals essential for clean energy and global progress.

• Strategy leverages primary mining, secondary mining, and recycling to embrace the circular economy.

• Geopolitical shifts, regulatory changes, and rising demand for critical minerals shape the operating environment.

• Growth in global middle class and electrification drive increased demand for gold and energy transition metals.

Entrepreneurial growth and portfolio evolution

• Expanded from mature gold operations into PGMs, battery metals, and recycling through acquisitions and organic growth.

• Built a diversified operating base with extended life of mine and increased production profile.

• Revenue and EBITDA contributions are now underpinned by a mix of gold, PGMs, nickel, zinc, and recycling.

• Strategic footprint spans South Africa, the Americas, Europe, and Australia, with significant revenue diversification.

Value creation and stakeholder impact

• Delivered 582% total shareholder return since 2013, outperforming gold and PGM peers.

• Invested R9bn in training, R20bn in socio-economic development, and R220bn in salaries and benefits.

• Achieved responsible sourcing accreditations and significant environmental progress, including renewable energy and emissions reductions.