main colours more colours - the vault more colours . main colours lonmin offered a job to one family...

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2017 ANNUAL GENERAL MEETING “BALANCING ECONOMIC, SOCIAL AND ENVIRONMENTAL NEEDS “

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CREATING A NEW VISION: BUILDING BRIDGES

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Lonmin at a Glance

3

Key figures

Shareholder register by geography

Key features

Listings: LSE and JSE

Market capitalisation: c. USD520m

Third largest producer of platinum

globally Only major integrated PGM

participant on the LSE Main operations located in South

Africa, host to c.80% of global PGM resources

Top 3 Platinum Producer globally with High Quality, Long Life PGM Resources

Greater leverage to upside than PGM peers

Well established customer relationships

11 shafts, 7 concentrators and 5 furnaces in Marikana

• Leading processing operations with surplus capacity

• Significant replacement value

• Total employees 25,296 Total contractors 7,497 HDSAs in management 52.4%

North America Sudbury PGM joint

venture JVs with Vale &

Wallbridge

United Kingdom Ireland

Exploration Asia Furuya

Metals Co.

39%

6% 12%

39%

4% UnitedKingdom

Rest of Europe

North America

South Africa

Rest of World

Southern Africa Western Platinum Ltd. &

Eastern Platinum Ltd. Pandora JV Tailings Dams (Marikana) Limpopo

Akanani Loskop JV Petrozim (Zimbabwe)

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How we Shared the $1.1bn Cash we Earned

$517m $460m

$93m

$20m

$9m

$56m

Shareholders received no dividend

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WHAT HAVE WE DONE SINCE MARIKANA 2012…

For our Dependants

For our Community

For our Employees

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Lonmin offered a job to one family member of each deceased

Assisted to get statutory benefits

Formed the Sixteen Eight Memorial Trust

The trust supports the educational needs of 153 children, the approximate breakdown of children at different levels of education is as follows:

• 114 primary and secondary school, including 7 at a crèche

• 10 tertiary education

• 31 not in school (includes babies and adults)

• Tuition Fees, Boarding Fees, Transportation, Uniform, Textbooks, Tertiary Fees, Accommodation, Meals and Textbooks

Psychological counselling, parental and learner support in place

The lives of the beneficiaries have been changed for the better in providing them with the best education, thus opening them up to new possibilities

First Trust Graduate: Mandla Yawa in BSc (Hons) In Agriculture

1. What Have we Done for Dependants

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2. What Have we Done with Communities

7

BAPO (2.24% and 0.9%)

Other Communities (0.9%)

Procurement Contracts (R1.65bn)

2016 GLC Matric pass rate (84,37%) versus national pass rate (72,5%)

Shared vision creates shared value

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3. What Have we Done for our Employees

1) Salaries

2) Financial Literacy

3) Employee Share Ownership Plan (2014)

4) Employee Total Wellbeing

ART – reducing AIDS related deaths

Nutritional supplements

5) Employee Living Conditions

No more single sex hostels at Lonmin

Living Out Allowance in place

Home ownership facilitation

Infill apartments for rental accommodation

Rezoning of informal settlements

8

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Update on Wages

9

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10

Timelines 1977-1988 1989-1990 1990-2000 2003-2004 2004-2005 2008-2014 2015-2016

HOUSING CONSTRUCTION ACTIVITIES

Lonmin and Samancor initially partnered to undertake very first major development in Mooinooi, comprising more than 1,000 houses (Lonmin owned 877)

280 homes built at Renamile Township, adjacent to Wonderkop Hostel as well as Andrew Saffy Hospital Development comprised 46 (three bedrooms) and 234 (four bedrooms) houses

Marikana Ext 1 Home Ownership scheme: • 1,149 homes,

each house measures 40m

2

with two bedrooms,

• 370 houses sold and transferred to date

• Another 372 houses occupied by employees on rent-to-buy scheme.

• 325 units currently illegally occupied by employees reluctant to partake in ownership initiative

Low take-up of home ownership is low,.

Karee 369 stand-alone houses of 40m

2

built, houses consist of two bedrooms (177 rented out to employees and families and balance shared by former Karee hostel dwellers)

650 low-cost houses built for Rustenburg Local Municipality, North West Province Housing Board). Allocations done by municipality to all in the community. Converted 22 single-sex blocks (157 units) prior to 2010 Mining Charter requirements (R22 million)

Hostel conversion programme completed, 128 blocks converted in line with Mining Charter requirements, yielding a total of 2,684 units (776 family and 1,908 single units) completed at a total capex cost of R378.5 million Donated 50ha of serviced land (valued at R80 million) for development of possible 2,658) housing units at Marikana Ext 2 Employees paying rentals ranging from R320 to R350 per month

Total of 493 modern multi-storey apartments constructed at cost of R160 million 2015: Completed 325 infill apartments at Karee (225 family and 100 single) 2016: Commenced with construction of 168 infill apartments of which 84 situated at Wonderkop and another 84 at Easterns (60 family and 24 single) The infill apartments to be allocated on the basis of market related rentals Consultations with union on rentals in progress

TOTAL UNITS 877 280 1,149 369 650 2,684 493

OTHER HOUSES (RUSTENBURG, MOOINOOI & BRITS)

255 (Rustenburg – 42, Mooinooi – 185, Brits – 28) Mainly occupied by artisans, miners, first line supervisors,

Market related rentals apply

GRAND TOTAL 6,757

Housing Historic Overview

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Lonmin Employee Housing Strategy

STR

ATE

GIC

PIL

LAR

S

OB

JEC

TIV

ES

OB

JEC

TIV

ES

HOSTEL CONVERSIONS

INFILL APARTMENTS –

IMMEDIATE PROGRESS

NEW / EXISTING REALESTATE

DEVELOPMENTS

REZONING OF INFORMAL

SETTLEMENTS

HOME OWNERSHIP SCHEMES &

MARKET RELATED RENTALS

LONMIN FACILITATE VIA COLLABORATIVE PARTNERSHIPS

• COMPLETION OF HOSTEL CONVERSION PROGRAMME

• PRIMARILY RENTAL ACCOMMODATION

• TOTAL OF 1,240, BUT CAPACITY FOR 4,000 INFILL APARTMENTS

• 2015: PHASE 1 OF 325 UNITS

• 2016: PHASE 2 OF 168 UNITS

• MARIKANA EXT. 2 (50ha WITH CAPACITY FOR 1,600 UNITS)

• MARIKANA EXT. 5 (134ha WITH CAPACITY FOR 5,300 TO 6,000 UNITS OF MIXED TYPOLOGIES)

• MOOINOOI (25ha WITH CAPACITY OF 2,500 OF MIXED TYPOLOGIES)

• PARTICIPATE IN PLANNING FOR REZONING AND/OR RELOCATION OF INFORMAL SETTLEMENTS ADJOINING TO LONMIN OPS

• IMPLEMENT MEASURES TO PROMOTE HOME OWNERSHIP

• INCREASE FOCUS ON LOCAL RECRUITMENT TO REDUCE NEED FOR HOUSING

CO

ST

CO

ST

YIE

LD

STR

ATE

GIC

PIL

LAR

S

YIE

LD

• R378m • R410 m • R78m (MHDC Marikana Ext 1)

• TBD • TBD

• ~ 2,684 UNITS • ~ 1,240 UNITS, WITH CAPACITY FOR 4,000

• 1149 MHDC (Marikana Ext 1)

• Under review

• DEPENDENT ON EMPLOYEE NEEDS SURVEY

• ~ 10,000 UNITS

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More colours Main colours Building of 1240 Modern Infill Apartments in Progress

12

KAREE

WPL EPL

PHASE 1: 325 units by Jan 2016 PHASE 2: 168 units by Jan 2017

PHASE 3: 300 units by Dec 2017 PHASE 4: 447 units by Dec 2018

493 of 1 240 apartments already constructed at a cost of R140 million

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Summary of Actions Since August 2012

13

OUR COMMITMENT:

* to operate in a transparent and

mutually trustworthy environment

* to improve labour relations

Taking care of families of our lost colleagues

Building and sustaining trusted relationships

within GLC

Assisting our employees with debt

management and financial planning

Building and sustaining trusted and empowered relationships between

union leadership, employees and management

Reviewed all policies, procedures and

structures to ensure alignment with best

practice in respect for human rights in and

outside the workplace

Build new accommodation options

for our employees. Reviewing living

standards , Revising human settlements

strategy

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Acknowledging our past, we are building bridges because…

Adversaries never achieve anything but partners can achieve a lot

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QUESTIONS

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2017 ANNUAL GENERAL MEETING

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