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Changes to Board member capacity and Board committees
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
("Sibanye-Stillwater" or the "Group" or the "Company")
Website: www.sibanyestillwater.com
Changes to Board member capacity and Board committees
Johannesburg, 24 March 2025: Sibanye-Stillwater (JSE: SSW and NYSE: SBSW) advises shareholders
that due to the following Board members reaching 12-year tenures they are no longer regarded
as independent and are now classified as "non-executive directors":
1. Mr. R P Menell (Richard Menell)
2. Mr. T J Cumming (Tim Cumming)
3. Mr. K A Rayner (Keith Rayner)
4. Mr. J S Vilakazi (Jerry Vilakazi)
Keith Rayner, the current Chairman of the Audit Committee, along with Richard Menell and Tim
Cumming, will step down as Chairman and members of the Audit Committee at the 2025 Annual
General Meeting (AGM) and Terence Nombembe will be put forward for election as the Chairman
of the Audit Committee at the 2025 AGM.
Tim Cumming will remain as Chairman of the Remuneration Committee until the AGM in May 2026.
A robust succession plan that prioritises independence and gender diversity is ongoing for
this role. This is in line with the King IV recommended practices to be considered on an apply
and explain basis. Tim Cumming will also retire as a member of the Board at the 2026 AGM.
For stability and corporate memory Richard Menell, Keith Rayner and Jerry Vilakazi will remain
members of the Nominating and Governance Committee as non-executive directors until their
retirement at the 2027, 2028 and 2028 AGMs respectively. The Board will however ensure that a
majority of members of the Nominating and Governance Committee are independent by appointing
new independent members to the Nominating and Governance Committee.
Additionally, as the Investment Committee and the Safety and Health Committees are not statutory
committees, their Terms of References were amended to permit a non-independent Chair. Keith
Rayner and Jerry Vilakazi will therefore remain as chairpersons of the Investment Committee
and the Health and Safety Committee, respectively, until their retirement at the 2028 AGM.
Succession for these chairpersons is underway.
These changes are aimed at enhancing the effectiveness and continuity of the Board in line
with established good governance practices. The Board remains committed to maintaining high
standards of governance and ensuring that all regulatory requirements are met.
This announcement is made in accordance with Section 3.59(c) of the Listings Requirements of
the JSE Limited, and the above changes are effective immediately.
About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio
of operations, projects and investments across five continents. The Group is also one of the
foremost global recyclers of a suite of metals and has interests in leading mine tailings
retreatment operations.
Sibanye-Stillwater is one of the world's largest primary producers of platinum, palladium, and
rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium,
nickel, chrome, copper and cobalt. The Group has also diversified into battery metals mining
and processing and has increased its presence in the circular economy by growing its recycling
and tailings reprocessing exposure globally. For more information, see
www.sibanyestillwater.com.
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com
LinkedIn: https://www.linkedin.com/company/sibanye-stillwater
Facebook: https://www.facebook.com/SibanyeStillwater
YouTube: https://www.youtube.com/@sibanyestillwater/videos
X: https://twitter.com/SIBSTILL
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
DISCLAIMER
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the "safe harbour" provisions of the United
States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included
in this presentation may be forward-looking statements. Forward-looking statements may be identified by the use of words
such as "will", "would", "expect", "forecast", "potential", "may", "could" "believe", "aim", "anticipate", "target",
"estimate" and words of similar meaning.
These forward-looking statements, including among others, those relating to Sibanye Stillwater Limited's (Sibanye-
Stillwater or the Group) future financial position, business strategies, business prospects, industry forecasts,
production and operational guidance, climate and ESG-related targets and metrics, and plans and objectives for future
operations, project finance and the completion or successful integration of acquisitions, are necessarily estimates
reflecting the best judgement of Sibanye-Stillwater's senior management. Readers are cautioned not to place undue
reliance on such statements. Forward-looking statements involve a number of known and unknown risks, uncertainties and
other factors, many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater that could
cause its actual results and outcomes to be materially different from historical results or from any future results
expressed or implied by such forward-looking statements. As a consequence, these forward-looking statements should be
considered in light of various important factors, including those set forth in Sibanye-Stillwater's 2023 Integrated
Report and annual report on Form 20-F filed with the Securities and Exchange Commission (SEC) on 26 April 2024 (SEC
File no. 333-234096). These forward-looking statements speak only as of the date of this presentation. Sibanye-Stillwater
expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the
extent legally required).
WEBSITES
References in this announcement to information on websites (and/or social media sites) are included as an aid to their
location and such information is not incorporated in, and does not form part of, this announcement.
Date: 24-03-2025 08:02:00
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