MARKET RELEASE Trading statement for the year ended 31 December 2018 Johannesburg, 14 February 2019: Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) is pleased to provide a trading statement for the year ended 31 December 2018. The comprehensive financial and operating results for the six months and the year ended 31 December 2018 will be released on Thursday, 21 February 2019. In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited (JSE), a company listed on the JSE is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. Shareholders are advised that the Sibanye-Stillwater Group expects to report an attributable loss of R1,000 million (US$77 million) for the year ended 31 December 2018,which is a significant improvement on the attributable loss of R4,437 million (US$333 million) for the year ended 31 December 2017 (comparative period). The improvement year-on-year primarily reflects, inter alia: • improved solid operational performance from our PGM operations in both Southern Africa (SA) and in the United states (US) • the benefits of significantly higher PGM basket prices • the inclusion of a full year from the US PGM operations, compared with eight months in the comparative period • increases in the gains on financial instruments and foreign exchange differences • decreases in non-underlying items (i.e. impairments, provision for occupational healthcare claims, restructuring and transaction costs) These improvements were partly offset by losses from the SA gold operations due to safety incidents in the first half of 2018 and the AMCU strike towards the end of the year, as well as significant decline in deferred tax rate adjustments relative to 2017. The deferred tax credit for the comparative period in 2017 of R3,451 million (compared to a deferred tax credit of R511 million for 2018), was mainly due to the beneficial impact of the federal tax reform legislation enacted in the US on 22 December 2017. From 1 January 2018, the federal corporate income tax rate reduced from 35% to 21% which, together with other immaterial changes in the tax base, resulted in a deferred tax benefit in 2017 of R2,532 million. As a result, the Group will report a basic loss per share of 44 cents (3 US cents) for the year ended 31 December 2018, which is significantly less than the basic loss per share of 229 cents (17 US cents) reported for the previous year and positive headline earnings per share (HEPS) of 65 cents (5 US cents) compared with the headline loss per share of 12 cents (1 US cents), for the comparable period in 2017. This represents an 81% reduction in the basic loss per share and a 642% increase in respect of HEPS. The financial information on which this trading statement is based has not been reviewed or reported on by Sibanye-Stillwater’s auditors.
thevault.exchange/?get_group_doc=245/...mber201814Feb2019.pdf