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VALTERRA PLATINUM LIMITED - Production Report For The Third Quarter Ending 30 September 2025

Release Date: 28/10/2025 09:35
Code(s): VAL     PDF:  
Wrap Text
Production Report For The Third Quarter Ending 30 September 2025

Valterra Platinum Limited
(previously Anglo American Platinum Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
JSE Share Code: VAL
LSE Share Code: VALT
ISIN: ZAE000013181
("The Company" or "Valterra Platinum")

28 October 2025

PRODUCTION REPORT FOR THE THIRD QUARTER ENDING 30 SEPTEMBER 2025

Overview – Q3 2025 performance vs. prior period Q3 2024
• Safety performance - We tragically recorded one work-related fatality at Amandelbult's Dishaba Mine in July
  2025. The total recordable injury frequency rate (TRIFR) improved 7% to 1.53 per million hours at own operations,
  down from 1.57 per million hours compared to the prior period.

• Successful ramp up of Amandelbult – Tumela Lower section of Amandelbult Mine has successfully ramped up
  to steady state production ahead of schedule, marking the completion of Amandelbult's recovery to full
  production following the February 2025 flooding. Full year production guidance at Amandelbult of
  450,000-480,000 Platinum Group Metals (PGM) ounces remains intact.

• Own-managed mines PGM production (expressed as 5E+Au metal-in-concentrate (M&C)) decreased by 2% to
  539,600 ounces due to lower production from Mototolo, Amandelbult and Unki, partially offset by higher
  production at Mogalakwena.

• Purchase of PGM concentrate (POC) of 315,500(1) ounces was in line with prior period.

• Refined PGM production (excluding tolling) decreased by 5%(1) to 981,500 ounces due to lower M&C production
  and a larger drawdown of excess work-in-progress inventory in the prior period.

• PGM sales volumes decreased by 9%(1) to 936,800 ounces, marginally below refined production volumes due to
  the timing difference in sales recognition, with some sales volumes rolling into October.

• Guidance for 2025 - We remain on track to deliver M&C production of 3.0-3.2 million ounces. M&C production
  from our own operations is expected to be ~2.0 million PGM ounces and POC between ~1.0-1.2 million PGM
  ounces. Refined production and sales volumes guidance is expected at ~3.4 million PGM ounces due to
  sustained improvements in stability and reliability of the processing infrastructure following the completion of
  scheduled maintenance and stock counts; and the continued release of work-in-progress inventory.

(1)
      On a like-for-like basis - prior periods are restated to exclude Kroondal from purchase of concentrate volume, excluded from refined owned
      production, treated as 4E toll refined production and excluded from sales volumes. Kroondal has transitioned to 4E tolling arrangement
      effective September 2024, as outlined in the Kroondal sales announcement.

Craig Miller, CEO of Valterra Platinum, said:
"In August we launched our company values which are the foundation of our business and on 27 October, we
observed our first annual Keep It Safe Day as Valterra Platinum, a milestone in our journey to build a culture where
safety, respect and wellbeing are at the heart of everything we do. Teams across South Africa, Zimbabwe, China, the
UK and Singapore paused to reflect on our safety journey and reaffirmed our commitment to ensuring that everyone
returns home safely each day. Despite the improvement in our TRIFR, we regret the loss of our valued colleague, Mr.
William Nkenke, a mining team supervisor at Amandelbult's Dishaba Mine, in July. We extend our deepest
condolences to the family, friends, and team members of Mr. Nkenke. We have conducted a thorough review of the
incident, identified the root causes, and implemented the necessary measures to prevent recurrence.
"It is pleasing to see the continued recovery in our quarterly M&C production volumes following the significant
weather-related incidents impacting several of our assets earlier in the year, the most severe of which was the
flooding at Amandelbult. Recovery efforts at Amandelbult have progressed well, with Tumela Lower achieving
steady-state production volumes ahead of schedule and we maintain our full year guidance for Amandelbult of
450,000-480,000 PGM ounces. Total M&C production for 2025 is expected to be ~3.0-3.2 million ounces. We have
however, identified opportunities to optimise our work-in-progress inventory, which – combined with the benefits of
our stable and efficient processing assets – will allow us to supplement M&C production, resulting in expected
refined production and sales volumes of ~3.4 million ounces."

                                                                                                     Q3      Q3                         YTD
                                                                                                   2025    2025                        2025
Valterra Platinum                                        Q3       Q2       Q1       Q4      Q3       vs      vs       YTD      YTD       vs
                                                                                                     Q3      Q2                         YTD
PGM Production Report - Q3 2025                        2025     2025     2025    2024     2024     2024    2025      2025     2024     2024
M&C PGM production(1)- adj for Kroondal (2)           855.1    769.0    696.3    875.8   868.1      (1)%    11%     2,320.4  2,488.6   (7)%
Own mined volume     (3)
                                                      539.6    464.1    461.9    588.3   552.0      (2)%    16%     1,465.7  1,603.5   (9)%
Purchase of concentrate           (4)
                                                      315.5    304.9    234.3    287.5   316.1      —%       3%       854.7    885.1   (3)%
M&C PGM production          (1)
                                                      855.1    769.0    696.3    875.8   922.2      (7)%    11%     2,320.4  2,677.4   (13)%
Own mined volume(3)- as reported                      539.6    464.1    461.9    588.3   552.0      (2)%    16%     1,465.7  1,603.5    (9)%
Purchase of concentrate - as reported
                                  (4)
                                                      315.5    304.9    234.3    287.5   370.2     (15)%     3%       854.7  1,073.9   (20)%
Refined PGM production - adj for Kroondal
                                    (4)        (2)
                                                      981.5    954.0    437.1 1,027.9  1,035.9       (5)%     3%    2,372.6  2,802.0   (15)%
4E Toll refined production                            215.7    194.0    208.2    182.8   224.8      (4)%     11%      617.9    604.2      2%
Total refined production (owned & toll)              1,197.2 1,148.0    645.3 1,210.7  1,260.7       (5)%     4%    2,990.5  3,335.3   (10)%
Refined PGM production (4)                            981.5    954.0    437.1 1,027.9  1,106.9      (11)%     3%    2,372.6  2,888.4   (18)%
4E Toll refined production- as reported               215.7    194.0    208.2    182.8   153.8       40 %     11%     617.9    446.9    38 %
Total refined production (owned & toll)- as reported 1,197.2 1,148.0    645.3 1,210.7  1,260.7       (5)%     4%    2,990.5  3,335.3   (10)%
PGM sales volume (5) - adj for Kroondal (2)           936.8    981.5    486.9    960.0 1,033.5       (9)%    (5)%   2,405.2  2,875.4   (16)%
PGM sales volume      (5)
                            - as reported             936.8    981.5    493.7 1,002.0 1,102.2       (15)%    (5)%   2,412.1  3,075.8   (22)%


Numbers are independently rounded and minor variances might be present when performing additions, subtractions and
calculations.
1
    M&C refers to metal in concentrate. Ounces refer to troy ounces. PGMs consists of 5E + gold (platinum, palladium, rhodium, ruthenium and
    iridium plus gold).
2
    Restated for prior periods to exclude Kroondal from purchase-of-concentrate volume. Kroondal was a 50% joint operation until 1 November
    2023. Upon the disposal of our 50% interest, Kroondal transitioned to a 100% third-party POC arrangement, whereby 100% of production
    was presented under 'Purchase of concentrate' until it transitioned to a toll arrangement on 1 September 2024.
3
    PGM production from Mogalakwena, Amandelbult, Mototolo, Unki and 50% attributable production from joint operation Modikwa.
4
    PGM production from third parties and 50% purchased from joint operation Modikwa.
5
    Refined and sales volumes owned by Valterra Platinum referencing its annual guidance i.e. excluding toll refining volumes.

REVIEW OF THE QUARTER
Safety
Regrettably, a fatal incident occurred at Amandelbult's Dishaba Mine on 22 July 2025, involving Mr. William Nkenke,
who tragically lost his life in a grout pack related incident while working underground. The area was secured, and
operations in the affected zone were suspended. An internal investigation was initiated in collaboration with
relevant authorities to determine the root cause and preventative measures have been implemented.
The Total Recordable Injury Frequency Rate (TRIFR) improved to 1.53 per million hours worked at own-managed
operations, down from 1.57 in the prior period, reflecting continued progress in safety performance.

Total M&C PGM production
Total PGM production in Q3 2025 declined 7% to 855,100 ounces compared to the prior period primarily due to
Kroondal's transition to a 4E tolling arrangement from September 2024. On a like-for-like basis, where prior periods
are restated to exclude Kroondal from purchase of concentrate volume, total PGM production decreased by 1%.

PGM production from own mines
Own mine production declined 2% compared to the prior period, mainly due to lower production from Mototolo,
Amandelbult and Unki, partially offset by higher production at Mogalakwena. Quarter-on-quarter production
increased by 16%, driven by Amandelbult's ramp up to steady-state operations.

Mogalakwena increased PGM production by 4% to 225,700 ounces, driven by higher concentrator throughput,
albeit at a marginally lower built-up head grade due to the blending of a greater proportion of lower-grade stockpiled
material. In Q4, the grade fed to the plant is expected to improve as higher-grade material becomes accessible in
the pit, in line with the planned mining sequence. Operational improvements at the North concentrator and
reduced mass pull from the newly commissioned Jameson cells reflect continued progress in operational
excellence.

Amandelbult production showed a significant recovery in the third quarter, with Tumela Mine ramping up to steady-
state operations, which underpinned a 118% quarter-on-quarter increase in production. However, PGM production
at Amandelbult declined 3% to 153,100 ounces compared to the prior period, due to marginally lower tonnes
milled and a slight reduction in head grade. The mine remains on track to deliver between 450,000 and 480,000
PGM ounces for the year.
Mototolo's PGM production declined by 11% to 66,200 ounces, mainly due to lower tonnes milled and reduced
grades. Production was impacted by anticipated complex geological features encountered at both Borwa and
Lebowa shafts, which temporarily affected crew efficiencies and mining grades. Development at Der Brochen
continues to progress steadily, with all development ends successfully intersecting the reef after navigating the
weathered slow sink zone.

Unki's production declined by 8% to 57,500 PGM ounces mainly due to the expected lower grades in the current
mining area.

Modikwa PGM production (50% own-mined) decreased by 7% to 37,000 ounces, primarily due to lower
concentrator recoveries following the introduction of open pit material, which replaced the volumes from South 1
shaft infrastructure that was closed in the first half of the year.

Purchases of PGM concentrate
Purchase of concentrate volumes decreased by 15% to 315,500 ounces primarily due to Kroondal's transition to a
4E tolling arrangement from September 2024. Adjusting the comparable period for Kroondal volumes, POC was in
line with prior period.

Refined PGM production
Refined production (excluding tolling) decreased by 11% to 981,500 ounces compared to Q3 2024. This was mainly
due to a larger drawdown of work-in-progress inventory in the prior period, and the transition of Kroondal volumes
from POC to tolling, which were included in the prior year's refined production.

Adjusting for Kroondal, the decline was 5%. Refined output exceeded M&C mined and purchased, on the back of a
solid processing performance due to sustained improvements in stability and reliability of the processing
infrastructure that facilitated the release of work-in-progress inventory.
Toll-refined PGM production increased by 40% to 215,700 PGM ounces. Normalising the comparative period to
include Kroondal as tolling volumes, implies a 4% reduction as a result of lower volumes received from third
parties.

Base metal and chrome production
Nickel production decreased by 15% to 6,226 tonnes and copper production decreased by 9% to 4,201 tonnes, as
the prior period included a larger release of work-in-progress inventory.
Total chrome production increased by 10% to 271,000 tonnes, mainly due to higher chrome production at Mototolo
and improvements in chrome yields across our own operations.

PGM sales volumes
PGM sales volumes decreased by 15% to 936,800 ounces, marginally below refined production volumes due to the
timing difference in sales recognition, with some sales volumes rolling into October. Excluding Kroondal volumes
from the comparable period, sales volumes declined by 9%.
The average Q3 2025 realised basket price was $1,916/PGM ounce, the highest since Q1 2023 and up 30% year-
on-year. Much of this gain came between Q2 and Q3, with a 27% quarter-on-quarter increase in Q3, driven by
broad price gains for all PGMs since May. The rally reflects a confluence of bullish macro-, micro- and sectoral
drivers, including a weaker US dollar, resilient economic growth, robust precious metal investment amid rising
inflationary fears and heightened geopolitical tensions, buoyant Chinese demand and concerns over metal
availability in key trading centres.

2025 guidance
We remain on track to deliver M&C production of 3.0-3.2 million ounces. M&C production from our own operations
is expected to be ~2.0 million PGM ounces and POC between ~1.0-1.2 million PGM ounces. Refined production
and sales volumes guidance is expected to be ~3.4 million PGM ounces.
                                                                                                      Q3      Q3                       YTD
                                                                                                    2025    2025                      2025
Valterra Platinum                                         Q3      Q2       Q1       Q4       Q3       vs      vs     YTD      YTD       vs
                                                                                                      Q3      Q2                       YTD
PGM Production Report - Q3 2025                         2025    2025     2025     2024     2024     2024    2025    2025     2024     2024
Safety
Fatalities - own managed operations      number            1        1        0        1        0    — % (100)%          2        2    —%
Total recordable case frequency rate
(TRCFR)                                  /million hrs    1.53    1.28     1.70     1.92     1.57     (7)%   15 %     1.52     1.61     (6)%
Mined production
PGM ounces produced(1)                   000 ounces     539.6   464.1    462.0    588.3    552.0     (2)%   16 %  1,465.7   1,603.5    (9)%
  Platinum                               000 ounces     246.4   207.0    207.1    267.5    249.8     (1)%   19 %    660.5     730.0    (10)%
  Palladium                              000 ounces     192.7   178.2    175.4    218.0    198.4     (3)%    8 %    546.3     580.7     (6)%
  Rhodium                                000 ounces      30.8    23.0     23.8     31.1     32.3     (5)%   34 %    77.6       91.1    (15)%
  Other PGMs                             000 ounces      69.7    55.9     55.7     71.7     71.5     (3)%   25 %   181.3      201.6    (10)%
Tonnes milled                            000 tonnes     6,331   5,848    5,675    6,219    5,979      6%     8 %   17,852    18,042     (1)%
4E built-up head grade(2)                g/t             3.02    2.88     2.91     3.34     3.22     (6)%    5%     2.94       3.15     (7)%
Mogalakwena
PGM ounces produced(1)                   000 ounces     225.7   234.3    227.0    283.5    217.8     4%      (4)%   687.0     669.9     3%
  Platinum                               000 ounces      96.3    98.8     95.9    122.0     92.1     5%      (3)%   291.1     286.5     2%
  Palladium                              000 ounces     103.1   108.2    105.2    129.8    101.2     2%      (5)%    316.5    307.7     3%
  Rhodium                                000 ounces       6.2      6.5      6.3      7.6      6.1   —%       (5)%     19.0     18.6     2%
  Other PGMs                             000 ounces      20.1    20.8     19.6     24.1     18.4     9%      (3)%     60.4     57.1     6%
Tonnes milled                            000 tonnes     3,623   3,699    3,583    3,701    3,167    14 %     (2)%   10,905   10,165     7%
4E built-up head grade(2)                g/t             2.45    2.48     2.48     3.00     2.68    (9)%     (1)%     2.47     2.57   (4)%
Amandelbult
PGM ounces produced(1)                   000 ounces     153.1    70.2     85.8    136.9    158.2     (3)%   118 %   309.1    442.9    (30)%
  Platinum                               000 ounces      76.9    35.9     43.3     69.0     79.5     (3)%   114 %   156.1    225.4    (31)%
  Palladium                              000 ounces      35.8    16.3     20.0     31.8     37.0     (3)%   120 %    72.1    103.9    (31)%
  Rhodium                                000 ounces      14.2     6.2      7.8     12.6     14.6     (3)%   128 %    28.2     40.3    (30)%
  Other PGMs                             000 ounces      26.2    11.8     14.7     23.5     27.1     (3)%   122 %    52.7     73.3    (28)%
Tonnes milled                            000 tonnes     1,085    550      588      899     1,101     (1)%    97 %   2,222    3,171    (30)%
4E built-up head grade(2)                g/t             4.41    4.12     4.40     4.49     4.44     (1)%     7%     4.33     4.48     (3)%
Mototolo
PGM ounces produced(1)                   000 ounces      66.2    67.5     66.2     74.2     74.1    (11)%    (2)%   199.8    202.3    (1)%
  Platinum                               000 ounces      30.6    31.3     30.6     34.1     33.6     (9)%    (2)%    92.4     91.7     1%
  Palladium                              000 ounces      18.9    19.2     19.0     21.5     21.7    (13)%    (1)%    57.0     59.8    (5)%
  Rhodium                                000 ounces       5.4     5.4      5.4      6.0      5.9     (8)%    (1)%    16.2     16.3    (1)%
  Other PGMs                             000 ounces      11.3    11.6     11.2     12.6     12.9    (12)%    (3)%    34.2     34.5    (1)%
Tonnes milled                            000 tonnes       646    632      602      666      697      (7)%     2%    1,880    1,873    —%
4E built-up head grade(2)                g/t             3.22    3.31     3.34     3.41     3.35     (4)%    (3)%    3.29     3.43    (4)%
Unki
PGM ounces produced(1)                   000 ounces      57.5    53.8     53.6     60.3     62.2     (8)%    7%     165.0    179.7     (8)%
  Platinum                               000 ounces      26.6    24.7     24.6     27.7     28.1     (5)%    8%      75.9     81.4     (7)%
  Palladium                              000 ounces      21.7    20.6     20.6     23.1     24.0    (10)%    5%      62.9     69.4     (9)%
  Rhodium                                000 ounces       2.5     2.2      2.3      2.6      2.8    (10)%   13 %       7.0      8.0   (12)%
  Other PGMs                             000 ounces       6.7     6.3      6.1      6.9      7.3     (8)%    6%      19.2     20.9     (8)%
Tonnes milled                            000 tonnes       653    644      636      652      687      (5)%    1%     1,932    1,950     (1)%
4E built-up head grade(2)                g/t             3.28    3.18     3.21     3.43     3.30     (1)%    3%      3.22     3.37     (4)%
Modikwa joint operation (AAP share)(3)
PGM ounces produced(1)                   000 ounces      37.0    38.3     29.4     33.4     39.7     (7)%    (3)%   104.8    108.7    (4)%
  Platinum                               000 ounces      15.9    16.3     12.7     14.7     16.5     (3)%    (2)%    44.9     45.0    —%
  Palladium                              000 ounces      13.3    13.9     10.6     11.8     14.5     (9)%    (5)%    37.8     39.9    (5)%
  Rhodium                                000 ounces       2.6     2.7      2.0      2.3      2.9    (10)%    (4)%     7.3      7.9    (8)%
  Other PGMs                             000 ounces       5.2     5.4      4.1      4.6      5.8    (10)%    (4)%    14.8     15.9    (7)%
Tonnes milled                            000 tonnes       324    323      266      301      327      (1)%    —%      913      883      3%
4E built-up head grade(2)                g/t             3.81    3.92     3.86     3.72     3.90     (2)%    (3)%    3.86     3.88    —%
Purchase of concentrate (POC)
PGM ounces produced(1)                   000 ounces     315.5   304.9    234.3    287.4    370.3    (15)%    3%     854.7    1,073.9  (20)%
  Platinum                               000 ounces     139.4   138.0    102.0    130.0    171.2    (19)%    1%     379.4      499.1  (24)%
  Palladium                              000 ounces      67.3    68.6     51.4     63.7     86.5    (22)%   (2)%    187.4      255.3  (27)%
  Rhodium                                000 ounces      19.1    18.0     14.1     17.0     24.9    (23)%    6%      51.2       74.5  (31)%
  Other PGMs                             000 ounces      89.7    80.3     66.8     76.7     87.6      2%    12 %    236.7      244.9   (3)%


                                                
                                                                                                    Q3      Q3                         YTD
                                                                                                  2025    2025                        2025
Valterra Platinum                                        Q3      Q2       Q1      Q4       Q3       vs      vs       YTD       YTD      vs
                                                                                                    Q3      Q2                         YTD
PGM Production Report - Q3 2025                        2025    2025     2025    2024     2024     2024    2025      2025      2024    2024
Refined production owned
PGM ounces refined                    000 ounces      981.5    954.0   437.1 1,027.9 1,106.9     (11)%      3%    2,372.6   2,888.4   (18)%
   Platinum                           000 ounces      440.3    455.0   170.2 482.1 536.9         (18)%     (3)%   1,065.4   1,363.6   (22)%
   Palladium                          000 ounces      310.4    286.8   141.3 327.9 341.7          (9)%      8%      738.6     920.6   (20)%
   Rhodium                            000 ounces       61.6     55.7    27.6    67.8    70.2     (12)%     11 %     144.9     180.6   (20)%
   Other PGMs                         000 ounces      169.2    156.5    98.0 150.1 158.1           7%       8%      423.7     423.6    —%
Nickel                                tonnes          6,226    6,408   4,161 6,329 7,363         (15)%     (3)%   16,795    19,408    (13)%
Copper                                tonnes          4,201    3,573   3,054 4,515 4,639          (9)%     18 %   10,828    12,548    (14)%
Chrome                                000 tonnes        271      165     181     255     247      10 %     64 %      618       695    (11)%
Toll refining
PGM ounces refined                    000 ounces      215.7    194.0   208.2    182.8   153.8     40 %     11 %    617.9     446.9    38 %
   Platinum                           000 ounces      128.4    115.2   123.6    108.6    90.8     41 %     11 %    367.3     262.3    40 %
   Palladium                          000 ounces       67.4     59.9    64.3     57.7    48.3     39 %     13 %    191.6     139.3    38 %
   Rhodium                            000 ounces       17.3     16.3    17.7     13.9    12.4     40 %      6%      51.4      38.5    34 %
   Gold                               000 ounces        2.5      2.6     2.6      2.6     2.3     10 %     (3)%      7.6       6.8    11 %
Sales volume from production
PGM ounces                            000 ounces      936.8    981.5   493.7 1,002.0 1,102.2     (15)%     (5)%    2,412.1  3,075.8   (22)%
   Platinum                           000 ounces      411.7    474.8   148.4 477.7 527.4         (22)%    (13)%    1,035.0  1,393.2   (26)%
   Palladium                          000 ounces      297.9    267.9   171.2 334.6 325.2          (8)%     11 %      737.0    959.3   (23)%
   Rhodium                            000 ounces       56.8     54.1    29.3    68.2    69.0     (18)%      5 %      140.2    185.2   (24)%
   Other PGMs                         000 ounces      170.4    184.7   144.8 121.5 180.6          (6)%     (8)%      499.9     538.1   (7)%
Realised metal, Fx and realised
basket prices
Platinum                              (US$/oz)        1,392 1,024     985    945    952           46 %     36 %     1,165     959      21 %
Palladium                             (US$/oz)        1,157 1,006     957    975 1,027            13 %     15 %     1,055   1,013        4%
Rhodium                               (US$/oz)        6,125 5,404 4,556 4,607 4,699               30 %     13 %     5,519   4,649      19 %
Iridium                               (US$/oz)        4,287 3,938 4,029 4,457 4,484               (4)%      9 %     4,101   4,628     (11)%
Ruthenium                             (US$/oz)          799    586    493    442    345          132 %     36 %       626    349       80 %
Gold                                  (US$/oz)        3,528 3,313 2,731 2,895 2,800               26 %      6 %     3,225   2,481      30 %
Average Fx achieved on sales          ZAR/US$         17.64 18.23 18.51 17.90 17.84               (1)%     (3)%     18.12   18.37      (1)%
US$ realised basket price             (/PGM oz)       1,916 1,508 1,533 1,509 1,477               30 %     27 %     1,672   1,455      15 %
ZAR realised basket price             (/PGM oz)      33,654 27,443 28,005 27,371 25,888           30 %     23 %    29,970  26,475      13 %

Numbers are independently rounded and minor variances might be present when performing additions, subtractions and
calculations.
¹ M&C refers to metal in concentrate. Ounces refer to troy ounces. PGMs consists of 5E + gold (platinum, palladium, rhodium, ruthenium and
  iridium plus gold)
² 4E: the grade measured as the combined content of: platinum, palladium, rhodium and gold, excludes tolled material. Minor metals are
  excluded due to variability
³ Modikwa is a 50% joint operation. The 50% equity share of production is presented under 'Own mined' production. Valterra Platinum
  purchases the remaining 50% of production, which is presented under 'Purchase of concentrate'.

JSE sponsor:
Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities

For further information, please contact:
Investors:
Leroy Mnguni
leroy.mnguni@valterraplatinum.com
Marcela Grochowina
marcela.grochowina@valterraplatinum.com
Media:
Cindy Maneveld
cindy.maneveld@valterraplatinum.com

ABOUT VALTERRA PLATINUM
Valterra Platinum Limited is one of the world's leading integrated producers of platinum group metals (PGMs) with a
primary listing on the Johannesburg Stock Exchange and a secondary listing on the London Stock Exchange. With a
portfolio of world class, long-life mines and the most efficient processing assets in the industry, the company
responsibly mines, smelts and refines PGMs and associated co-products from its operations located in South
Africa and Zimbabwe. With its integrated value chain, supported by marketing hubs in London, Singapore and
Shanghai, the company delivers tailored solutions for its customers. The Company continues to integrate
sustainability into everything it does, supports investment in its mining and processing capabilities and pursues
market development activities to grow and commercialise new demand segments. It also makes a meaningful
impact to communities around its operations and will deliver consistent and superior returns to shareholders.
Valterra Platinum is committed to zero harm, capital allocation discipline and delivering on our value-accretive
strategic priorities as a standalone, leading integrated PGM producer, guided by our purpose of unearthing value to
better our world
Date: 28-10-2025 09:35:00
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