Sylvania Platinum Ltd. · LSE:SLP

Sylvania Platinum — FY2026 Earnings Presentation

43 slides from Sylvania Platinum's earnings presentation, September 2026

1. Slide 1: Results for the year ended 30 June 2026

   Results SYLVANIAPLATINUM.COM For the year ended 30 June 2026

2. Slide 2: Disclaimer

   Introduction Disclaimer  This document, which is personal to the recipient and has been issued by Sylvania Platinum Limited (the “Company”), comprises written materials/slides for presentations and discussions to be held in Operations September 2026. This document does not constitute or form part o

3. Slide 3: Agenda

   Introduction AGENDA Operations 01 Introduction 02 Operations Financial Results 03 Financial Results Growth Jaco Prinsloo Chief Executive Officer 04 Growth Overview Market 05 Market Overview ESG 06 ESG Outlook Ronel Bosman Chief Financial Officer 07 Outlook 3

4. Slide 4: Investment Case

   Introduction Investment Case Operations Financial Results  Improved processing efficiencies and higher-grade feed sources driving PGM growth Record Production  Annual production achieved new record of 95,885 4E PGM ounces declared for FY2026 (FY2025: 81,002 4E PGM ounces), 18% increase year on yea

5. Slide 5: Strong 2026 Results

   Introduction Strong 2026 Results Operations 4E and 6E PGM CHROME PGM 4E GROUP CASH COST NET REVENUE PRODUCTION PRODUCTION BASKET PRICE PER 4E PGM OZ 95,885(4E) 50,317t $2,404/oz $977/oz $226.3m Financial Results 122,460(6E) (FY2025: 81,002 oz 4E; (FY2025: N/A) (FY2025: $1,507/oz) (FY2025: $912/oz) (

6. Slide 6: Operations

   Operations SYLVANIAPLATINUM.COM

7. Slide 7: Lower-cost, cash generative PGM and Chrome producer

   Introduction Lower-cost, cash generative PGM and Chrome producer Operations Sylvania Dump Operations  Cash generative, lower-cost operations on the Eastern and Western Limbs of the Bushveld Igneous Complex (BIC), South Africa. Financial Results  Comprises six chrome beneficiation and PGM processin

8. Slide 8: Safety

   Introduction Safety Operations All operations have remained fatality-free since inception in 2007 Excellent Lost Time Injury (LTI) free performance Financial - Doornbosch achieved 14 years LTI-free; Results - Lannex achieved 6 years LTI-free; - Millsell achieved 4 years LTI-Free ; and - Lesedi achie

9. Slide 9: Record PGM Production Achieved

   Introduction Record PGM Production Achieved 4E and 6E PGM CHROME CHROME FY2026 PGM Production beats revised target of Operations PRODUCTION PRODUCTION PRODUCT MASS YIELD 90,000oz to 93,000oz 4E PGM 95,885 oz (4E)  SDO Eastern and Western Operations performed above 50,317 tons 31.03% expectations. 1

10. Slide 10: Delivering increased PGM guidance

    Introduction Delivering increased PGM guidance PGM Ounce production – 4E oz Operations product tons Chrome Metcon Concentrate production 100 000 200 000 200 000 Thaba JV 90 000 (Attributable) 150 000 80 000 150 000 Lesedi Financial 100 000 Results 70 000 100 000 Guidance - Tweefontein 60 000 Upper 5

11. Slide 11: Operational Focus Areas

    Introduction Operational Focus Areas Operations Continued focus on maintaining excellent safety, health and environmental standards and performance. Financial Results SDO expected to continue strong production performance in FY2027 - continued focus on plant stability and utilisation, feed source op

12. Slide 12: Financial Results

    Financial Results SYLVANIAPLATINUM.COM

13. Slide 13: Solid financials | Profit and loss

    Introduction Solid financials | Profit and loss Profit statement Operations 2026 2025 Variance $mil $mil % Revenue: Net revenue made up of PGMs and Chrome (FY2026) and includes by-products and sales adjustments. Revenue 226.3 104.2 117 Financial Results Cost of sales: Cost of sales (121.3) (79.3) 53

14. Slide 14: Financial Performance | Revenue and EBITDA

    Introduction Financial Performance | Revenue and EBITDA REVENUE ($mil) 6E REVENUE FY2026 Operations Pd 11%  117% Increase in net revenue contributable • 89% increase PGM basket price Pt 42% • 18% increase PGM production • 10% increase from 1st time chrome production Pt Financial Results Rh 39% 33%

15. Slide 15: Financial Performance | Costs

    Introduction Financial Performance | Costs FY2026 Actual SDO cash cost per 4E PGM CASH COST ($/oz) THABA CHROME COST ($/t) Operations 4E PGM oz - $790/oz 1 200 140 1 000 120 100 800 • Increase in cash cost largely attributable to Financial 80 Results mining cost at the Thaba JV during ramp-up. 600 6

16. Slide 16: Strong Balance Sheet

    Introduction Strong Balance Sheet Cashflow for the Period NET CASH BRIDGE ($mil) Operations ended 30 June 2026 180 101,4 1,9 160 Operating activities 140 - Record production - 30,2 Financial Results 120 - Increased basket price - Chrome revenue stream 100 80 - 51,4 - 2,4 0,7 67,3 Income tax 60,9 - 1

17. Slide 17: Disciplined and strategic capital investment

    Introduction Disciplined and strategic capital investment FY2026 FY2027 Est FY2028 Est SIB Capital expenditure estimate $mil $mil $mil Operations • Standard stay-in-business capital, including collision avoidance system in FY2026 Stay-in-Business (SIB) 2.1 0.9 1.9 Tailings and infrastructure 12.7 17

18. Slide 18: Capital Allocation Framework

    Introduction Capital Allocation Framework Dividend Maintain Balance Sheet Strength: Operations Total dividends to $145.2m Annual dividend of 6p – higher than policy minimum* shareholders**  Reinvest in current business for returns (2018 to 2026) Final dividend 4 pence  Opportunistic, value accreti

19. Slide 19: Growth

    Growth SYLVANIAPLATINUM.COM

20. Slide 20: Thaba JV

    Introduction Thaba JV Thaba JV Project Progress FY2027 Focus Areas Operations  Thaba JV plant was commissioned and  Continue to work closely with JV partner and experienced independent mining consultants in ramping-up during FY2026. order to ensure key technical decisions are underpinned by robust

21. Slide 21: Thaba JV Project

    Introduction Thaba JV Project Thaba JV - Attributable PGM Production Key Operational Parameters Thaba JV - Attributable Tons Treated & Chrome Production Operations Total PGM oz - Conservative Total PGM oz - Current BC  Current models assume lower expected Total Cr Product - Conservative Total Cr Pr

22. Slide 22: Thaba JV Site Photos

    Introduction Thaba JV Site Photos Milling Circuit & ROM Conveyors Milling Circuit, ROM Conveyors & Chrome Spiral Plants Operations Financial Results Crushed ROM Stockpile Growth Overview Market Primary PGM Flotation Circuit Chrome Spiral Circuits Chrome Ore in Mining Pit ESG Outlook Secondary PGM Fl

23. Slide 23: Growth Focus

    Introduction Growth Focus Thaba JV operation Operations  Coordinating resource and pit optimisation studies with JV partner to optimise ROM feed volumes and quality over LOM and optimise processing plant accordingly. Existing SDO operations  Higher-grade feed sources (current host-mines and extern

24. Slide 24: Market Overview

    Market Overview SYLVANIAPLATINUM.COM

25. Slide 25: PGM Industry Cost Curve

    Introduction PGM Industry Cost Curve PGM Basket Composition PGM Industry cost curve – CY2026 Operations Actual FY2026 - PGM Prill Split Au Rh 0,2% Financial Results 11,7% Pd Pt 23,0% 65,1% Growth Overview Market  SLP has attractive rhodium (Rh) exposure relative to typically lower UG2 and Merensky

26. Slide 26: PGM & Chrome Prices

    Introduction PGM & Chrome Prices Gross PGM Metal Price per Ounce 4E Gross PGM Metal Price per Ounce 4E Operations $3 000 $12 000 $6 000 R60 000 R50 000 Pt & Pd - $/oz $2 000 $8 000 $4 000 R40 000 Rh - $/oz ZAR/Oz Financial $/Oz R30 000 Results $1 000 $4 000 $2 000 R20 000 4E PGM Basket Price ($/oz)

27. Slide 27: PGM Market

    Introduction PGM Market Demand Supply Outlook Operations  Automotive remained the key demand driver in  Higher PGM prices provides support for project  In the near term, US tariffs and affordability 2026 (accounting for 38% of ~Pt, 83% of Pd and approvals and renewed growth, but corporate becomin

28. Slide 28: Chrome Market

    Introduction Chrome Market Demand Supply Outlook Operations  Global chrome ore demand reached 40.5Mt in  Global chrome ore production ~43Mt in 2025  With supply adequate, the chrome ore market is 2025 and forecasted to climb to ~47.5Mt by 2035. increase from ~39.3Mt in 2024 (+10% y-o-y). forecast

29. Slide 29: ESG

    © SYUVANIA PLATINUM LIMITED ESG SYLVANIAPLATINUM.COM

30. Slide 30: Environment, Social and Governance

    Introduction Environment, Social and Governance Extract of economic contribution Operations in South Africa - FY2026 Environment Social Governance Responsible resource recovery Investing in people and communities ESG integration Financial Salaries and wages Results ZAR417m $25m Business resilience E

31. Slide 31: Outlook

    Outlook SYLVANIAPLATINUM.COM

32. Slide 32: Strong Outlook | Organically Growing Production

    Introduction Strong Outlook | Organically Growing Production Operations GROUP EBITDA ($mil) FY2027 Annual Production Target of (at various pricing assumptions) 85,000oz to 95,000oz 4E PGM and 180 110,000 – 140,000 tons of Chromite Financial Results 160 concentrate 140 120 Growth • SDO expected to co

33. Slide 33: Our purpose and values

    Introduction Our purpose and values Operations Vision WE VALUE THE SAFETY To be the best mid-tier platinum and associated metals producer in the world. AND HEALTH OF ALL Mission Financial Results To grow our low-cost and efficient business by leveraging our existing asset WE VALUE THE base, and cont

34. Slide 34: Sylvania Platinum Limited and advisers

    Sylvania Platinum Limited Jaco Prinsloo / Ronel Bosman +27 11 673 1171 Panmure Liberum Limited (NOMAD & JOINT BROKER) SYLVANIAPLATINUM.COM Scott Mathieson / John More / Gaya Bhatt +44 20 3100 2000 sylvaniaplatinum@panmureliberum.com Berenberg (JOINT BROKER) Jennifer Lee / Ivan Briechle +44 20 3207 7

35. Slide 35: Appendix

    Appendix SYLVANIAPLATINUM.COM

36. Slide 36: Board of Directors

    Board of Directors Eileen Carr Jaco Prinsloo Simon Scott Independent Non-Executive Chair Managing Director & Chief Executive Officer Independent Non-Executive Director Ms Carr joined the Board of Sylvania Platinum Limited Mr Prinsloo has been appointed as CEO and admitted Mr Scott joined the board o

37. Slide 37: Board of Directors

    Board of Directors Adrian Reynolds Martin Preece Independent Non-Executive Director Independent Non-Executive Director Mr Reynolds joined the Board as from 1 August 2021. Mr Preece joined the Board as a Non-Executive Director He has over 40 years’ experience in the mining and of the Company on 2 Feb

38. Slide 38: Share Structure and Ownership

    Share Structure and Ownership Capitalisation summary – 30 June 2026 Top shareholders (% shareholding) Quoted: AIM Domiciled: Bermuda Halifax Share Dealing (Halifax) Premier Miton Investors (London) Ticker symbol: SLP LN BlackRock Investment Mgt (London) Interactive Brokers (Chicago) Basic shares wit

39. Slide 39: PGM Metal Price Scenarios

    PGM Metal Price Scenarios Sylvania FY2027 to FY2030 Estimates¹ Panmure Liberum FY2027 to FY2030 Estimates³ Company internal price assumptions 2027 2028 2029 2030 2027 2028 2029 2030 Pt $/oz 1 868 1 937 1 887 1 823 Pt $/oz 1 638 1 425 1 263 1 229 Pd $/oz 1 411 1 425 1 328 1 267 Pd $/oz 1 431 1 313 1

40. Slide 40: Operational and Financial Summary Annexure

    Operational and Financial Summary Annexure 40

41. Slide 41: Exploration Assets

    Exploration Assets Volspruit  Volspruit, located at the southern end of the Northern Limb of the BIC, is a shallow PGM-Ni-Cu deposit  Focus is predominantly on obtaining the necessary authorisations required to move the project into the next stages post scoping study Far Northern Limb  Includes t

42. Slide 42: Exploration | Far Northern Limb

    Exploration | Far Northern Limb Volspruit  MRE updated and scoping study completed in Aurora 2024 firming up the technical aspects of the project  Actively engaging authorities to secure environmental amendments and the water-use licence Aurora  MRE declared on La Pucella T-Reef (Oct 2022) ~12% o

43. Slide 43: Typical SDO Plant Flowsheet

    Typical SDO Plant Flowsheet Generic process flow sheet for Sylvania’s Dump Operations  Treating combination of ROM chrome ore (Mooinooi and Lannex Plants only), and current and historical chrome tailings material  Recover and return chrome product to host mine & generate cash from recovery and sal

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