Conversion of all outstanding U.S.$250,000,000 3.25 per cent. Convertible bonds due 2022 IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ISIN: ZAE000083648 ADR code: IMPUY JSE 2022 Convertible Bond ISIN: ZAE000247458 JSE 2022 Convertible Bond Code: IMCB22 FSE 2022 Convertible Bond ISIN: XS1623614572 FSE 2022 Convertible Bond Code: 162361457 (“Implats”) CONVERSION OF ALL OUTSTANDING U.S.$250,000,000 3.25 PER CENT. CONVERTIBLE BONDS DUE 2022 Implats announces that on 13 August 2019, it received a conversion notice from the holder of the last of the outstanding U.S.$250,000,000 3.25 per cent. convertible bonds due 2022 (the "Bonds") to exercise its Conversion Rights as defined in, and in accordance with, the terms and conditions of the Bonds (the "Conditions") to convert the Bond into ordinary shares in Implats (the "Ordinary Shares"). On 14 August 2019, the conversion took place and 51,404 new Ordinary Shares will be issued in respect of the conversion of this Bond, and admitted to trading on the Main Board of the Johannesburg Stock Exchange's Equity Market on 27 August 2019. The newly issued Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares. Following the issue of the new Ordinary Shares, Implats’ enlarged issued share capital comprises 799,034,147 Ordinary Shares. As at the date hereof, Implats holds 16,233,994 Ordinary Shares in treasury. As a result of this conversion, all of the Bonds originally issued have been converted into Ordinary Shares and no longer remain outstanding. 21 August 2019 Sponsor Nedbank Corporate and Investment Banking Date: 21/08/2019 12:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.