Sylvania Platinum Ltd

FY2024 production was 72,704 ounces, below the range.

“SDO produced 72,704 4E (92,4276E) PGM ounces for FY2024 (FY2023 75,469 4E PGM ounces; 95,965 6E PGM ounces)”31 Jul 2024 · Fourth Quarter Report to 30 June 2024 “resulted in a lower than anticipated quarterly production and ultimate annual production of 72,704 4E PGM ounces for FY2024, marginally below our target of between 74,000 to 75,000 4E PGM ounces for the year”31 Jul 2024 · Fourth Quarter Report to 30 June 2024

Guidance was raised twice, to 78,000-80,000 ounces; actual output was 81,002.

“Annual production exceeded original guidance, which saw a new record of 81,002 4E PGM ounces produced by the Sylvania Dump Operations ("SDO") for FY2025”9 Sep 2025 · Annual Results Announcement

Steady state slipped from June 2025 to Q3 FY2026. By July 2026 the geological model and mine plan were still being refined.

“Steady state production is expected during Q3 FY2026 at the Thaba JV”9 Sep 2025 · Annual Results Announcement “At the Thaba JV, significant focus has been placed on refining the geological resource model and updating the mine plan to ensure the pit is mined in the correct sequence, providing a more consistent supply of ore at the required grades and volumes.”31 Jul 2026 · Fourth Quarter Operations Report to 30 June 2026

Timing slipped from end of Q3 FY2025 to June 2025, then to Q2 FY2026; later cards do not confirm it.

“A steady improvement has been realised on the current arisings from the host mine's new run of mine ("ROM") plant at Lesedi, and the ramp-up is on track with the crushing plant now operational and expected to be at steady state towards Q2 FY2026”29 Jul 2025 · Fourth Quarter Report to 30 June 2025 “The host mine's Lesedi ROM Plant was commissioned in October 2024, with a steady state ramp-up originally targeted for completion by the end of Q3 FY2025. However, the ramp-up was delayed due to adverse weather conditions impacting the installation of critical equipment. The revised plan targeted a ramp-up during Q4 FY2025, which has resulted in an increased throughput of the current arisings feed to the Lesedi Operation.”9 Sep 2025 · Annual Results Announcement

PGM guidance was raised to 90,000-93,000 and beaten at 95,885; chrome guidance was cut to 50,000-55,000 tons.

“Record annual production of 95,885 4E PGM ounces achieved during FY2026”31 Jul 2026 · Fourth Quarter Operations Report to 30 June 2026 “Annual production of 50,317 tons of attributable Chrome concentrate was achieved at the Thaba JV in FY2026, in line with revised guidance, albeit on the lower end”31 Jul 2026 · Fourth Quarter Operations Report to 30 June 2026

Optimisation of Thaba JV was still continuing into FY2027 in September 2026.

15 Sep 2026 · Annual Results Announcement