Sibanye Stillwater Ltd

In July 2018, the Group entered into a gold and palladium supply arrangement with Wheaton International in exchange for an upfront

advance payment of R 6,555 million (US$500 million) (Wheaton Stream).100% of refined mined gold and currently 4.5% of refined mined

palladium from the Stillwater operations will be delivered to Wheaton International over the life-of-mine of the US PGM operations. In

addition to the advance payment, Wheaton International currently pays the Group 18% cash based on the value of gold and palladium

deliveries each month. The arrangement has been accounted for as a contract in the scope of IFRS 15 whereby the advance payment

has been recorded as deferred revenue. The revenue from the advance payment is recognised as the gold and palladium is allocated to

the appropriate Wheaton International account. An interest cost, representing the significant financing component of the upfront deposit

on the deferred revenue balance, is also recognised as part of finance costs. This finance cost increases the deferred revenue balance,

ultimately resulting in revenue when the deferred revenue is recognised over the life of the stream.