Sibanye Stillwater Limited Sibanye Gold Limited: Notice to Bondholders

Sibanye Stillwater Limited Reg. 2014/243852/06

Registered Address: Constantia Office Park Bridgeview House • Building 11 • Ground Floor Cnr 14^th Avenue & Hendrik Potgieter Road Weltevreden Park • 1709

Postal Address:

Private Bag X5 • Westonaria • 1780

Tel +27 11 278 9600 • Fax +27 11 278 9863

Stillwater Mining Company

USD 500,000,000 4.250 per cent. Guaranteed Unsecured Convertible Bonds due 2028

(ISIN: XS2725834043)

16 September 2026

Notice to Bondholders

NOTICE IS HEREBY GIVEN by the Company to the holders of the outstanding USD 500,000,000 4.250 per cent. Guaranteed Unsecured Convertible Bonds due 2028 (ISIN: XS2725834043), of an adjustment of the Conversion Price (as defined in the Terms and Conditions of the Bonds) of the Bonds as follows:

Reason for the adjustment: Adjustment of Conversion Price pursuant to Condition 6.2(c) of the Terms and Conditions of the Bonds due to the Dividend of R2.0100 payable per Ordinary Share to Shareholders of record on 18 September 2026.

Old Conversion Price USD 1.3054
New Conversion Price USD 1.2533

Effective Date for the New Conversion Price 16 September 2026

Capitalised terms used herein not otherwise defined herein have the meanings set out in the Trust Deed (including the terms and conditions of the 2028 Bonds) relating to the 2028 Bonds dated 28 November 2023.

Contact
Investor Relations
email: ir@sibanyestillwater.com

www.sibanyestillwater.com

Directors: Vincent Maphai* (Chairman) Richard Stewart (CEO) Charl Keyter (CFO)
Philippe Boisseau* Elaine Dorward-King * Peter Hancock* Harry Kenyon-Slaney*

Rick Menell** Lindiwe Mthimunye* Terence Mncedisi Nombembe* Keith Rayner** Jerry Vilakazi** Sindiswa Zilwa*

Lerato Matlosa (Corporate Secretary) (* Independent Non-Executive) (** Non-Executive)