WESIZWE PLATINUM LIMITED - Update on the section 189A consultation process at Bakubung Platinum Mine

Update on the section 189A consultation process at Bakubung Platinum Mine 

WESIZWE PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/020161/06)
Share code: WEZ
ISIN: ZAE000075859
(“Wesizwe” or the “Company”)


UPDATE ON THE SECTION 189A CONSULTATION PROCESS AT BAKUBUNG
PLATINUM MINE

1. INTRODUCTION

Shareholders are referred to the various announcements released on the Johannesburg
Stock Exchange News Service, the last of which was published on 3 September 2026,
relating to the temporary suspension of operations at Bakubung Platinum Mine (“BPM” or
“the Mine") and were advised that the consultation and facilitation process in terms of
Section 189A of the Labour Relations Act, 66 of 1995 (“LRA”), conducted under the auspices
of the Commission for Conciliation, Mediation and Arbitration (“CCMA”), officially concluded
on 31 August 2026.

The Company wishes to extend its appreciation to all consulting parties and the CCMA for
their constructive engagement throughout the restructuring process

2. FINAL RESTRUCTURING OUTCOMES

A total of 429 positions were identified as affected by the operational restructuring. Following
extensive consultations and the implementation of mitigation measures, the final workforce
exit metrics are structured as follows:

•   Voluntary separation packages (“VSPs”): 399 employees elected and were approved to
    take VSPs.

•   Involuntary/forced retrenchments: 30 employees were subject to compulsory
    retrenchment.

3. TERMINATION DATES AND TRANSITIONAL PROVISIONS

•   General workforce termination: the effective date of termination for the affected workforce
    was 31 August 2026.

•   Delayed terminations of the clinic and training centre staff): in terms of the settlement
    agreement, the termination of clinic and training centre staff has been temporarily
    delayed to ensure uninterrupted operational continuity. These personnel will be
    terminated upon the conclusion of ongoing tender processes to appoint qualified and
    accredited third-party service providers who will absorb the respective staff functions.

4. SEVERANCE PAYMENTS

Wesizwe confirms that all statutory and agreed severance package payments for the
affected employees were fully concluded on 30 September 2026.

5. RESUMPTION OF UNDERGROUND INFRASTRUCTURE DEVELOPMENT BLASTING ACTIVITIES

The Company confirms that underground infrastructure development and associated
blasting activities at BPM resumed on 23 September 2026 following consultation with the
Department of Mineral and Petroleum Resources. The resumption is in accordance with the
Company’s infrastructure-led development strategy.


Johannesburg

1 October 2026

Sponsor
PSG Capital
Date: 01/10/2026 04:00:00
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