Notes

• The modifying factors used to convert a mineral resource to a mineral reserve are derived from historical performance while taking future anticipated conditions into account
• Mineral reserves quoted reflect the grade delivered to the mill
• At Zimplats it was reported that a low angle shear at the Bimha Mine has a deleterious effect on pillar strength and has resulted in the failure of mine pillars and the decision to temporarily close the Bimha Mine to ensure the safety of our employees. A new mine design resulted and work is under way to re-establish the mine. The impact of the pillar design was reported as part of the December 2014 half-year report. The Zimplats ore reserves reduced materially as Portal 5 has been excluded from the reserve inventory and the increased pillars impacted the overall extraction
• There has been increases in the mineral reserves at Mimosa, Marula and Two Rivers as additional areas have now been converted into the mineral reserve category
• 4E refers to the summation of platinum, palladium, rhodium and gold
• 6E refers to the summation of platinum, palladium, rhodium, ruthenium, iridium and gold
• Rounding of numbers may result in minor computational discrepancies; the results tabulated in this report must be read as estimates and not as calculations

Implats reported attributable mineral reserves of some 26.4Moz Pt at 30 June 2015 compared to 28.4Moz Pt in 2014. The decrease can mostly be ascribed to changes in the Zimplats statement and depletion, however, this is offset to some extent by increases at Mimosa, Marula and Two Rivers. The attendant graphs compare the last few reporting periods and indicate an overall decrease in attributable mineral reserves in line with depletion and the aforementioned changes. The quantum of proved Merensky Reef mineral reserves at Impala remains lower than the same for the UG2 Reef.

The Government of Zimbabwe has been pursuing the greater participation in the mining sector by indigenous Zimbabweans. Implats is continuing to engage with the Government of Zimbabwe with respect to agreeing plans for the indigenisation of Zimplats and Mimosa. The current position with regards to the implementation of the Government of Zimbabwe’s indigenisation plans is not clear and depending on what position is ultimately taken by the Government of Zimbabwe, Implats’ attributable mineral resources and mineral reserves may be significantly reduced.