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SIBANYE STILLWATER LIMITED - Sibanye-Stillwater receives a credit rating upgrade

Release Date: 03/05/2022 08:30
Code(s): SSW     PDF:  
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Sibanye-Stillwater receives a credit rating upgrade

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”)

Sibanye-Stillwater receives a credit rating upgrade

Johannesburg, 3 May 2022. Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is
pleased to share that Moody's Investors Service (Moody's) has upgraded the Group’s
corporate family rating (CFR) from Ba3 to Ba2 with a positive outlook.
Moody’s noted that the “rating action reflects the strong financial performance that
Sibanye has displayed over the past two years and its track record of maintaining
capital allocation discipline. The company has used its strong cash flows to balance
between various strategic objectives, including strengthening its balance sheet and
enhancing liquidity, investing in existing assets and executing on its strategy to
expand into battery metals, as well as rewarding shareholders through dividends and
share buybacks.”. Further information is available from

Neal Froneman, CEO of Sibanye-Stillwater commented: “We are pleased that the market
is starting to recognise our transition from a single commodity mining company in
2013 to a growing multinational mining and metals group, with a diverse portfolio of
mining and processing operations, projects and investments across five continents.”


Investor relations contact:
James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited


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 announcement 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”) future business prospects, financial positions, production
and operational guidance, climate and ESG-related statements, targets and metrics, plans and
objectives of management for future operations and ability to complete or successfully
integrate ongoing and future 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 2021 Integrated Annual Report and annual report on Form 20-F filed with
the United States Securities and Exchange Commission on 22 April 2022. These forward-looking
statements speak only as of the date of this announcement. Sibanye-Stillwater expressly
disclaims any obligation or undertaking to update or revise any forward-looking statement
(except to the extent legally required).

Date: 03-05-2022 08:30:00
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