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OPERATING AND FINANCIAL RESULTS SIX MONTHS AND YEAR ENDED 31 DECEMBER 2020 we are one Sibanye Stillwater JOHANNESBURG , 18 February 2021 : Sibanye Stillwater Limited ( Sibanye - Stillwater or the Group ) ( JSE : SSW & NYSE : SBSW ) is pleased to report operating and financial results for the six months ended 31 December 2020 , and reviewed condensed consolidated provisional financial statements for the year ended 31 December 2020 . SALIENT FEATURES FOR THE SIX MONTHS AND YEAR ENDED 31 DECEMBER 2020 • Profit attributable to owners of Sibanye - Stillwater increased to R29,312m ( US $ 1,781m ) from R62m ( US $ 5m ) for 2019 Record adjusted Free Cash Flow ( FCF ) of R19.9bn ( US $ 1.2bn ) - 63x increase from R318m ( US $ 22m ) for 2019 Driven by larger diversified production base and robust recovery from COVID lockdown in SA • • • • Proven ability to assess and respond to challenges Deleveraging achieved - net cash of R3.1bn ( US $ 210m ) at end 2020 - Shift in strategic focus to capital allocation Final dividend of R9.4bn ( US $ 649m ) for 2020 - 321 cps ( US88.8cents per ADR ) . Full year dividend yield of 8.7 % * R6.3bn approved investment in high return SA PGM and gold projects securing operational sustainability and 7,000 jobs * Based on the average share price of R42.52 for the year end 31 December 2020 • US dollar Year ended Six months ended Dec 2019 Dec 2020 Dec 2019 Jun 2020 Dec 2020 SA Rand Six months ended Dec 2020 Year ended Jun 2020 Dec 2019 Dec 2020 Dec 2019 KEY STATISTICS UNITED STATES ( US ) OPERATIONS 593,974 853,130 603,067 309,202 297,740 305,327 oz 840,170 431,681 PGM operations 1,2 2E PGM² production kg 397,472 442,698 oz 1,403 1,906 1,508 1,837 1,970 US $ / 2Eoz 504.2 794.8 295.9 360.0 434.8 US $ m 27 784 29 874 28 795 26 866 32 % 882 US $ / 2Eoz PGM recycling¹ Average basket price Adjusted EBITDA³ Adjusted EBITDA margin³ kg R / 2Eoz Rm % R / 2Eoz 9,497 9,261 9,617 13,769 12,363 13,427 32,026 30,621 22,150 7,081.2 6,002.0 4,332.5 32 26 28 14,342 14,429 11,678 18,758 18,475 26,132 26,535 31,373 20,287 13,083.2 29 14,385 7,290.9 27 11,337 All - in sustaining cost4 SOUTHERN AFRICA ( SA ) OPERATIONS PGM operations2,5 1,608,332 1,576,507 980,343 657,828 918,679 oz 4E PGM² production kg 1,383 608.3 32 1,027 2,227 1,766.5 53 1,111 1,475 2,002 464.5 542.8 32 42 1,074 1,156 2,396 US $ / 4Eoz 1,223.7 US $ m 60 % 1,082 US $ / 4Eoz Average basket price Adjusted EBITDA³ Adjusted EBITDA margin³ R / 4Eoz Rm % All - in sustaining cost4 R / 4Eoz 28,574 38,954 20,024.4 60 17,586 20,461 30,492 33,375 21,671 9,050.1 6,753.2 42 32 19,277 15,779 49,035 50,025 36,651 29,074.5 19,994 8,796.2 53 18,280 32 14,857 Gold operations 932,659 982,559 1,395 ( 67.0 ) 1,747 472.1 587,908 1,432 140.0 403,621 578,939 oz Gold production kg 1,613 100.9 1,850 US $ / oz ( 5 ) 1,544 28 1,406 16 1,347 16 1,493 371.2 US $ m 36 % 1,347 US $ / oz Average gold price Adjusted EBITDA³ Adjusted EBITDA margin³ R / kg Rm % All - in sustaining cost4 GROUP R / kg 36 704,355 16 800,048 16 636,405 18,007 12,554 18,286 30,561 29,009 967,229 864,679 676,350 924,764 648,662 6,087.4 1,682.9 1,967.7 7,770.3 28 743,967 ( 969.4 ) ( 5 ) 717,966 4.5 1,780.9 ( 69.7 ) 1,770.7 1,034.3 3,000.4 22.6 19.3 892.4 563.1 1,217.8 US $ m Basic earnings Rm 561.5 1,209.2 US $ m 990.4 2,010.0 US $ m 14.46 16.46 14.69 16.67 16.26 R / US $ Headline earnings Adjusted EBITDA³ Average exchange rate using daily closing rate 19,926.9 9,385.0 316.8 29,311.9 Rm 19,785.1 9,360.4 254.9 29,145.5 ( 1,008.2 ) Rm 32,870.9 16,514.0 12,937.5 49,384.9 14,956.0 62.1 The US PGM operations ' underground production is converted to metric tonnes and kilograms , and performance is translated into SA rand ( rand ) . In addition to the US PGM operations ' underground production , the operation treats recycling material which is excluded from the 2E PGM production , average basket price and All - in sustaining cost statistics shown . PGM recycling represents palladium , platinum and rhodium ounces fed to the furnace 2 The Platinum Group Metals ( PGM ) production in the SA operations is principally platinum , palladium , rhodium and gold , referred to as 4E ( 3PGM + Au ) , and in the US Region is principally platinum and palladium , referred to as 2E ( 2PGM ) 3 The Group reports adjusted earnings before interest , taxes , depreciation and amortisation ( EBITDA ) based on the formula included in the facility agreements for compliance with the debt covenant formula . For a reconciliation of profit / loss before royalties and tax to adjusted EBITDA , see note 11.2 of the condensed consolidated provisional financial statements . Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue See " Salient features and cost benchmarks " sections for the definition of All - in sustaining cost ( AISC ) 5 SA PGM operations ' results for the year ended 31 December 2019 include Marikana operations for the seven months since acquisition Stock data for the six months ended 31 December 2020 Number of shares in issue JSE Limited - ( SSW ) - at 31 December 2020 -weighted average Free Float Bloomberg / Reuters Price range per ordinary share ( high / low ) 2,923,570,507 Average daily volume R36.75 to R60.40 16,587,898 2,783,583,218 NYSE - ( SBSW ) ; one ADR represents four ordinary shares 99 % Price range per ADR ( high / low ) US $ 8.64 to US $ 16.30 SSWSJ / SSWJ.J Average daily volume 2,788,160 Sibanye - Stillwater Operating and financial results | Six months and year ended 31 December 2020 1