Impala Platinum Holdings Limited · JSE:IMP
Impala Platinum — Merger or Acquisition (November 2021)
16 slides from Impala Platinum's merger presentation, Nov 29, 2021
Slide 1: Building a Leading Integrated PGM Producer
BUILDING A LEADING INTEGRATED PGM PRODUCER General offer to shareholders of Royal Bafokeng Platinum Limited 29 November 2021
Slide 2: Forward-Looking and Cautionary Statement
FORWARD-LOOKING AND CAUTIONARY STATEMENT Certain statements contained in this presentation, other than the statements of historical fact, contain forward-looking statements regarding Implats’ operations, economic performance or financial condition, including, without limitation, those concerning the
Slide 3: Offer Overview
01 OFFER OVERVIEW IMPLATS GENERAL OFFER TO RBPLAT SHAREHOLDERS
Slide 4: Aligned to Implats Strategy
ALIGNED TO IMPLATS STRATEGY PORTFOLIO VALUE UNLOCK MARKET SYNERGIES SHARED VALUE Increased exposure RBPlat’s mining and A majority stake Enables Implats to Enhanced regional to shallow- concentrating enhances and pursue substantial, socio-economic mechanised mining operations are entrenches the uniq
Slide 5: Compelling Value for RBPlat Shareholders
COMPELLING VALUE FOR RBPLAT SHAREHOLDERS per RBPlat share comprised of R150 cash and scrip 23% 80% premium to close premium prior to 60 : 40 on Reference Cautionary R90 : 0.30 Implats shares Date(1) Announcement(2) 0 ✓ Crystallises inherent equity value at an attractive premium ✓ Implats is uniquely
Slide 6: Offer Details
OFFER DETAILS • General offer to acquire more than 50% of RBPlat’s shares in issue − As at 29 November 2021, Implats concluded agreements to acquire c.70.9m TRANSACTION shares in RBPlat (c.24.5% of shares in issue) − Pre-bid stake secured from institutional shareholders at the same price as offer •
Slide 7: Transaction Rationale
02 TRANSACTION RATIONALE IMPLATS GENERAL OFFER TO RBPLAT SHAREHOLDERS
Slide 8: Compelling Benefits for All Stakeholders
COMPELLING BENEFITS FOR ALL STAKEHOLDERS STRATEGIC PRODUCTION FINANCIAL GLOBAL PRIMARY PGM SUPPLY PRODUCTION OUTLOOK, 6E OZ 4 000 55% 50% 8% 11% E Limb 3 000 45% 2 000 22% W Limb 40% 1 000 Zimbabwe 35% 0 30% N America 2018 2019 2020 2021 2022 2023 2024 2025 2026 59% Impala Marula Two Rivers Zimplats
Slide 9: Capitalising on Implats W Limb Outperformance
CAPITALISING ON IMPLATS W LIMB OUTPERFORMANCE OPERATIONAL IMPROVEMENT AND RAMP-UP OF NEW SHAFTS INVESTMENT THROUGH THE CYCLE LIMITED RAMP-UP SPEND, OFFSET END-OF-LIFE CLOSURES WHILE VOLUME GAINS OFFSET COST INFLATION WESTERN LIMB 6E PRODUCTION VOLUMES 2016:100* WESTERN LIMB ALL IN COST PER 6E OUNCE
Slide 10: Opportunity to Unlock Significant Value
OPPORTUNITY TO UNLOCK SIGNIFICANT VALUE ✓ Potential to share business and technical services OPERATIONAL ✓ Concentrator capacity to extract chrome and improve recoveries ✓ Future potential IRS offtake will increase flexibility and capacity utilisation ✓ Enhanced regional socio-economic stability, su
Slide 11: Western Limb Supply Vital for PGM Markets
WESTERN LIMB SUPPLY VITAL FOR PGM MARKETS CONSTRUCTIVE PGM DEMAND OUTLOOK PRIMARY PGM SUPPLY BY REGION WESTERN LIMB • Rising global vehicle production and tightening legislation 8% 2%7% • Impacted by electrification (specifically palladium at end of decade) 10% 9% • Robust and evolving industrial de
Slide 12: A Compelling Transaction
A COMPELLING TRANSACTION A COMPELLING OFFER WITH SIGNIFICANT STRATEGIC, OPERATIONAL AND FINANCIAL BENEFITS Securing a Leveraging Building a significant competitive leading Western Limb advantage of integrated production processing producer base assets WESTERN LIMB IGNEOUS BUSHVELD COMPLEX Access to
Slide 13: Overview of RBPlat
03 OVERVIEW OF RBPLAT IMPLATS GENERAL OFFER TO RBPLAT SHAREHOLDERS
Slide 14: Company Overview
COMPANY OVERVIEW PROFILE MINING OPERATIONS • Mid-tier PGM concentrate producer, created from the restructuring of Bafokeng Rasimone Platinum Mine Styldrift Mine the BRPM JV between RBPlats Holdings and Anglo American Platinum Mechanised bord and pillar mining and majority community owned - listed on
Slide 15: Location and Resources
LOCATION AND RESOURCES MINERAL RESOURCES(1) Reef Classification Mt Grade 4E (g/t) 4E Moz Measured 71.64 7.58 17.46 Indicated 48.71 7.09 11.11 Merensky Inferred 29.28 7.48 7.04 Total 149.63 7.4 35.61 Measured 91.67 5.19 15.31 Indicated 74.51 4.99 11.96 UG2 Inferred 32.65 4.96 5.21 Total 198.83 5.08 3
Slide 16: Building a Leading Integrated PGM Producer
BUILDING A LEADING INTEGRATED PGM PRODUCER General offer to shareholders of Royal Bafokeng Platinum Limited 29 November 2021
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