Anglo American Platinum will release results for the six months ended 30 June 2019 (“the period”) on the Johannesburg Stock Exchange News Service (“SENS”) on 22 July 2019.

Shareholders are referred to the Company’s trading statement released on SENS on 25 June 2019 in which the Company advised that headline earnings and headline earnings per share (“HEPS”) for the period were expected to be at least 80% (R2.690 billion or 1,025 cents per share, respectively) higher than that reported for the six months ended 30 June 2018 (“the comparative period”) and that basic earnings and basic earnings per share (“EPS”) for the period were also expected to be at least 180% (R3.922 billion or 1,496 cents per share, respectively) higher than for the comparative period.

Shareholders are advised that headline earnings for the period is likely to increase to between R7.005 billion and R7.670 billion (an increase of between 108% and 128% compared to the comparative period figure of R3.363 billion). HEPS for the period is likely to increase to between 2,671 cents and 2,924 cents per share (an increase of between 108% and 128% compared to the comparative period figure of 1,282 cents).

Basic earnings for the period are likely to increase to a profit of between R7.055 billion and R7.485 billion (an increase of between 224% and 244% compared to the comparative period figure of a R2.179 billion). EPS for the period is likely to increase to between 2,690 cents and 2,854 cents per share (an increase of between 224% and 243% compared to the comparative period figure of 831 cents).

The expected increase in headline earnings and basic earnings is due to a higher ZAR PGM basket price, and a stock count adjustment gain of R1.0 billion in the period compared to a stock count adjustment loss of R0.5 billion in the comparative period.

In addition, in the comparative period, basic earnings was impacted by an impairment of R0.6 billion (post-tax) relating to the disposal of the Company’s 33% holding in the Bafokeng Rasimone Platinum Mine joint venture (BRPM JV) to Royal Bafokeng Platinum Limited and a loss of R0.8 billion (post-tax) on the 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 Concentrator Plant (ACP) in 2017. Both basic and headline earnings benefitted from a revaluation gain on the deferred consideration in respect of the sale of the Rustenburg Mines of R0.3 billion (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.