Sibanye Stillwater Ltd

37. Commitments

1 Includes authorised capital expenditure relating to DRDGOLD of R 3,700 million (2022: R 1,458 million,2021: R 549 million)

2 Included in the amount are guarantees related to the Marikana operations of R 2.2 billion (2022: R 2.2 billion, 2021: R 2.1 billion). The Group has an insurance policy over

these guarantees which includes a pledge of non-financial and financial assets of Sibanye UK, LSA UK Limited, WPL, EPL, Messina Limited and Messina Platinum Mines

Limited (collectively the insured entities) in the event that the insured entities enter liquidation. At 31 December 2023, the insured entities' total assets amounted to

R 38,384 million which includes property, plant and equipment of R 8,846 million, trade receivables of R 3,588 million, inventory of R 10,735 million and cash and cash

equivalents of R 2,802 million. Management does not expect the policy to be triggered due to the financial position and liquidity of the Group

Commitments will be funded from internal sources and to the extent necessary from borrowings. This expenditure primarily relates to mining

activities, infrastructure, hostel upgrades as well as the development of K4 and Keliber.