Anglo American Platinum will release results for the six months ended 30 June 2018 (“the period”) on the Stock Exchange News Service (“SENS”) on 23 July 2018.

Shareholders are referred to the Company’s trading statement released on SENS on 29 June 2018 in which the Company advised that headline earnings and headline earnings per share (“HEPS”) for the period were expected to be at least 20% (R150 million or 57 cents per share, respectively) higher than for the comparative reporting period for the six months ended 30 June 2017 (“comparative period”) and that basic earnings and basic earnings per share (“EPS”) for the period were also expected to be at least 20% (R238 million or 91 cents per share, respectively) higher than for the comparative period.

Shareholders are advised that headline earnings and HEPS for the period are likely to increase to between R3.275 billion and R3.415 billion (compared to the comparative period figure of R747 million), and to between 1,249 cents and 1,302 cents per share (compared to the comparative period figure of 285 cents) respectively.

Basic earnings and EPS for the period are likely to increase to a profit of between R2.040 billion and R2.270 billion (compared to the comparative period figure of a loss of R1.187 billion) and to a profit of between 778 cents and 866 cents per share (compared to the comparative period figure of a loss of 453 cents) respectively.

The expected increase in headline earnings and basic earnings is due to improved operational performance of the Company and improvement in the rand basket price for the period.

In addition, in the comparative period, the Company had attributable post tax-impairments totalling R2.2 billion impacting basic earnings of which R283 million impacted both basic and headline earnings. The impairments that impacted basic earnings only included Union mine of R911 million, equity interests in BRPM of R952 million and Bokoni Platinum Holdings of R45 million. The impairments that impacted basic and headline earnings include the write down of a term loan to Atlatsa and a loan to the Bakgatla Ba-Kgafela Community related to their interest in Union.

Basic earnings in the current period are impacted by an impairment of R0.6 billion (post-tax) relating to the disposal of the 33% holding in the BRPM JV to Royal Bafokeng Platinum Limited and a loss of R0.8 billion (post-tax) on finalisation of the disposal of Union Mine and Masa Chrome, while benefiting from an insurance receipt of R0.2 billion (post-tax) in respect of property damage suffered at the Convertor Plant (ACP) in 2017. Both basic and headline earnings benefit from a revaluation gain on the deferred consideration in respect of the sale of the Rustenburg Mines of R0.3bn (post tax).

The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s external auditors.

Johannesburg, South Africa

16 July 2018

Sponsor:
Merrill Lynch South Africa Proprietary Limited