Investor Presentation October 2009 One Team One Vision With Pride - PDF document

Investor Presentation October 2009 One Team One Vision With Pride Introducing Implats Implats is in the business of mining, refining and marketing platinum group metals and associated base metals One Team One Vision With Pride 2 1

Extensive mineral resources  230 million attributable platinum ounces as at 30 June 2009* Tamboti Impala 10% 33% Two River 1% Afplats 10% Marula 3% Mimosa 2% Zimplats 41% * Attributable Mineral Resources (inclusive of Mineral Reserves) One Team One Vision With Pride 3 Implats … Implats share price –  strives to be the best platinum monthly average Rands producing company and deliver 350 superior returns to its 300 shareholders 250  produced 1.7 million ounces of 200 platinum in FY2009 150  100 generated sales revenue of R26 billion in FY2009 50 (equivalent to $3 billion) - FY05 FY06 FY07 FY08 FY09 One Team One Vision With Pride 4 2

Analysis of shareholders  Geographical distribution of shareholders as at 30 June 2009 South Africa 54% Other countries 9% Singapore 1% Luxembourg 5% United Kingdom 10% United States 21% Source: JP Morgan/Cazenove One Team One Vision With Pride 5 Key statistics  Operations are located on two prime deposits The Bushveld Complex in  S outh Africa The Great Dyke in Zimbabwe   Impala Refining S ervices – toll- refining and third party processing One Team One Vision With Pride 6 3

Metals produced FY2009 Total PGMs 3 428 Platinum (000oz) 1 704 Palladium (000oz) 1 008 Rhodium (000oz) 248 Nickel (000t) 14.5 One Team One Vision With Pride 7 Revenue by metal FY2009 FY2008 6% 5% 5% 7% 20% 27% 54% 62% 7% 7% Platinum Palladium Rhodium Nickel Other One Team One Vision With Pride 8 4

Group structure Implats 1 704 000 oz 100% Mine-to-market Mine-to-market Managed Non-managed IRS Operations Operations 45% 100% Two Rivers Impala Group 3rd Party 116 000 oz 950 000 oz Toll treatment Concentrate/Matte Concentrate/Matte Purchase contracts Purchase contracts 205 000 oz 73% 365 000 oz 184 000 oz Marula 73 000 oz 87% Zimplats 97 000 oz 50% Mimosa Note: Refined platinum ounces indicated above have been 79 000 oz rounded for illustrative purposes One Team One Vision With Pride 9 Operations One Team One Vision With Pride 5

South African operations Afplats One Team One Vision With Pride 11 Impala (100% )  Largest single platinum producing entity in the world  Produced 950 000 ounces of platinum in FY2009  Employs 29,500 (41 000 including contractors)  Life-of-mine of 30 years at around 1 million ounces of platinum  Mining  14 shafts with 5 declines  3 new shafts under construction  Mineral Processes  Concentrating and smelting operation  Base metal and precious metal refineries  Reserves and resources  74 million attributable platinum ounces One Team One Vision With Pride 12 6

Marula (73% )  Currently in ramp-up to 125 000 ounces of platinum –5 year time frame  Produced 74 000 ounces of platinum in concentrate in FY2009  Employs 3,500 including contractors  Has a life-of-mine offtake agreement with IRS  Mining  2 on-reef declines and 1 off-reef conventional decline  Converting to conventional breast mining – hybrid mining  UG2  Processing  Concentrator  Reserves and resouces  8.2 million attributable platinum ounces One Team One Vision With Pride 13 Two Rivers (45% )  Joint venture with African Rainbow Minerals  Produced 118 000 ounces of platinum in concentrate in FY2009  Employs 2,850 including contractors  Has a life-of-mine offtake agreement with IRS  Mining  2 on-reef declines  Fully mechanised bord and pillar mining method  UG2  Processing  Concentrator  Reserves and resouces  2.6 million attributable platinum ounces One Team One Vision With Pride 14 7

Zimbabwean operations Victoria Falls One Team One Vision With Pride 15 Zimplats (87% )  Ramp-up of Phase 1 expansion – 180 000 ounces of platinum  Produced 96 000 ounces of platinum in matte in FY2009  Employs 5,500 including contractors  Has a life-of-mine offtake agreement with IRS  Mining  3 declines  Fully mechanised bord and pillar mining method  MS Z  Processing  2 concentrators and smelter  Reserves and resouces  92.9 million attributable platinum ounces One Team One Vision With Pride 16 8

Mimosa (50% )  Joint venture with Aquarius Platinum  Produced 91 500 ounces of platinum in concentrate in FY2009  Employs 1,900 including contractors  Has a life-of-mine offtake agreement with IRS  Mining  1 decline  Fully mechanised bord and pillar mining method  MS Z  Processing  Concentrator  Reserves and resouces  4 million attributable platinum ounces One Team One Vision With Pride 17 IRS  Undertakes processing of third party material  Metal purchase agreements  Toll refining agreements  Produced 753 800 ounces of platinum in FY2009  One of the world’ s largest refiners of spent autocatalysts  Life-of-mine offtake agreements with Implats group operations, Aquarius, Eastern Platinum, Blue Ridge and S mokey Hills  Impala’ s investment in additional smelting and refining capacity continues to open up opportunities for growth One Team One Vision With Pride 18 9

The Market One Team One Vision With Pride Platinum 2009 000 oz 2006 2007 2008 Est Demand Automotive 4,040 4,080 3,750 3,010 Jewellery 1,665 1,545 1,355 1,895 Industrial 1,830 1,870 1,780 1,570 Investment (30) 150 400 330 Total 7,505 7,645 7,285 6,805 S upply S A 5,435 5,145 4,465 4,480 Other 2,290 2,365 2,845 2,345 Total 7,725 7,510 7,310 6,925 S upply/ Demand Balance 220 (135) 25 10 One Team One Vision With Pride 20 10

ETF’s and Nymex Vs TOCOM $/ oz 000 oz 000 oz 1,600 700 2000 1,400 600 1,200 500 1500 1,000 400 800 1000 300 600 200 400 500 100 200 - 0 0 Oct 09 Oct 09 Jan 08 Jul 08 Jan 09 Jul 09 Jan 08 Jul 08 Jan 09 Jul 09 Nymex Net Longs TOCOM Net Longs ZKB ETF Securities Price One Team One Vision With Pride 21 China / Hongkong Imports (000 oz) 2,000 1,500 1,000 500 0 2005 2006 2007 2008 YTD09* HK Net Import SGE * January to August 09 One Team One Vision With Pride 22 11

Palladium 2009 000 oz 2006 2007 2008 Est Demand Automotive 4,800 5,025 4,760 4,450 Other 3,380 3,355 3,720 3,280 Total 8,180 8,380 8,480 7,730 S upply S A 2,760 2,670 2,355 2,460 Other 6,595 6,445 6,015 4,755 Total 9,355 9,115 8,370 7,215 S upply/ Demand Balance 1,175 735 (110) (515) One Team One Vision With Pride 23 Rhodium 2009 000 oz 2006 2007 2008 Est Demand Automotive 825 844 761 663 Industrial 144 146 134 133 Total 969 990 895 796 S upply S A 648 662 582 595 Other 292 310 324 297 Total 940 972 906 892 S upply/ Demand Balance (33) (18) 11 96 One Team One Vision With Pride 24 12

Market outlook  Economic recovery, whilst tentative seems to be gathering pace  Vehicle sales will slowly recover – the legislative net will widen and will continue to tighten  Alternative propulsion will not materially impact in the next 5 – 10 years  Pressure on new mine supply across the globe will be a feature for the next few years One Team One Vision With Pride 25 Results FY2009 One Team One Vision With Pride 13

Key features - financial  Sales revenue down 31% to Headline earnings (cents) R26.1 billion (US$3 billion) 2100 primarily on lower metal prices 1800  Cost of sales reduced by 18% Down 1500 to R16.4 billion 52%  1200 Gross profit declined 45% to R9.8 billion 900  Group gross margin declined 600 to 37% 300  Headline earnings per share 0 decreased 52% to R10.01 FY05 FY06 FY07 FY08 FY09  Final dividend of R2.00 per share; R3.20 for the year One Team One Vision With Pride 27 Key features - operational  Safety unsatisfactory Gross refined  Tonnes milled declined by 1% to 000 oz platinum production 20.1 million 2000  Gross platinum production of 1.7 Moz  Group unit cost up 10% to R8 526 1700 including share based payments and up 32% to R9 129 excluding share based payments 1400  Group capital expenditure FY05 FY06 FY07 FY08 FY09 increased by 29% to R6.9 billion Lonmin One Team One Vision With Pride 28 14

Group safety Fatal injury frequency rate (per million man hours) 0.32 0.14 , 0.28 0.12 0.24 0.10 0.20 0.08 0.16 0.06 0.12 0.04 0.08 0.02 0.04 0.00 0.00 Gold Fields AngloGold Anglo Platinum SA Platinum Industry Anglo American Implats Rio Tinto BHPB Xstrata Lonmin FY05 FY06 FY07 FY08 FY09 Implats Group Benchmark One Team One Vision With Pride 29 Group safety Lost-time injury frequency rate (per million man hours) 12 4 , 9 3 6 2 3 1 0 0 AngloGold Anglo Platinum Gold Fields SA Platinum American Implats BHPB Lonmin Rio Tinto Xstrata FY05 FY06 FY07 FY08 FY09 Anglo Industry Implats Group Benchmark One Team One Vision With Pride 30 15