VALTERRA PLATINUM LIMITED - Results of Annual General Meeting

Decision framework

Current stance: Filing Neutral

Evidence from the filing

• Shareholders overwhelmingly endorsed the company's remuneration policy (93.66%) and implementation report (95.45%), indicating strong alignment with executive compensation structures.

  “Non-binding advisory vote 9.1: To endorse the remuneration policy 192,391,191 72.52 93.66 6.34 0.02”

• A notable 22.83% of votes were cast against the general authority to repurchase company shares, signaling a contingent of shareholders dissenting on capital allocation strategy.

  “Ordinary resolution 7: General authority to repurchase company shares 192,357,281 72.51 77.17 22.83 0.03”

• All proposed ordinary and special resolutions passed the requisite thresholds, ensuring continuity in governance and granting management the necessary authorities for capital allocation.

  “In this regard, Valterra Platinum confirms the voting results from the AGM as follows: Number of Percentage For (as a Against (as a shares voted at shares voted at % of shares % of shares Resolutions proposed the meeting the meeting* voted at the voted at the Abstain* % meeting) meeting) % Ordinary resolution 1.1: To re- elect Mr Suresh Kana 192,082,364 72.40 97.81 2.19 0.13 Ordinary resolution 1.2: To re- elect Mr Roger Dixon 192,389,712 72.52 98.22 1.78 0.02 Ordinary resolution 1.3: To re- elect Mr Stephen Phiri 192,391,645 72.52 99.99 0.12 0.02 Ordinary resolution 2.1: To elect Ms Deborah Gudgeon 192,391,666 72.52 98.04 1.96 0.02 Ordinary resolution 2.2: To elect Ms Thoko Mokgosi-Mwantembe 192,389,515 72.52 99.48 0.52 0.02 Ordinary resolution 3.1: Election of Audit and Risk Committee 192,082,374 72.40 97.65 2.35 0.13 member - Mr Suresh Kana Ordinary resolution 3.2: Election of Audit and Risk Committee Withdrawn due to resignation member - Mr Lwazi Bam Ordinary resolution 3.3: Election of Audit and Risk Committee 192,391,549 72.52 98.96 1.04 0.02 member - Ms Thevendrie Brewer Ordinary resolution 3.4: Election of Audit and Risk Committee 192,391,628 72.52 98.35 1.65 0.02 member - Ms Deborah Gudgeon Ordinary resolution 3.5: Election of Audit and Risk Committee 192,389,725 72.52 95.63 4.37 0.02 member - Ms Fagmeedah Petersen-Cook Ordinary resolution 4.1: Election of Social, Ethics and Governance Committee member - Mr Lwazi Withdrawn due to resignation Bam Ordinary resolution 4.2: Election of Social, Ethics and Governance Committee member - Mr Roger 192,012,733 72.38 98.86 1.14 0.16 Dixon Ordinary resolution 4.3: Election of Social, Ethics and Governance Committee member - Mr Dorian 192,391,540 72.52 99.49 0.51 0.02 Emmett Ordinary resolution 4.4: Election of Social, Ethics and Governance 192,391,662 72.52 98.35 1.65 0.02 Committee member - Ms Deborah Gudgeon Ordinary resolution 4.5: Election of Social, Ethics and Governance 192,082,367 72.40 97.88 2.12 0.13 Committee member - Mr Suresh Kana Ordinary resolution 4.6: Election of Social, Ethics and Governance 192,389,579 72.52 99.66 0.34 0.02 Committee member - Ms Thoko Mokgosi-Mwantembe Ordinary resolution 4.7: Election of Social, Ethics and Governance 192,391,572 72.52 99.91 0.09 0.02 Committee member - Mr Stephen Phiri Ordinary resolution 5: Re- appointment of independent external auditors, 192,392,116 72.52 98.11 1.89 0.02 PricewaterhouseCoopers Ordinary resolution 6: To grant directors a general authority to allot and issue up to 3% unissued 191,644,756 72.24 89.28 10.72 0.30 shares, at their discretion Ordinary resolution 7: General authority to repurchase 192,357,281 72.51 77.17 22.83 0.03 company shares Ordinary resolution 8: Authority to implement resolutions 192,391,758 72.52 99.10 0.90 0.02 Non-binding advisory vote 9.1: To endorse the remuneration policy 192,391,191 72.52 93.66 6.34 0.02 Non-binding advisory vote 9.2: To endorse the remuneration 192,389,202 72.52 95.45 4.55 0.02 implementation report Special resolution 1: To approve the non-executive directors' fees 192,392,328 72.52 97.62 2.38 0.02 Special resolution 2: General authority for the provision 192,271,653 72.48 99.37 0.63 0.06 of financial assistance *Total issued ordinary share capital is 265,292,206 JSE equity sponsor: Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities JSE debt sponsor: The Standard Bank of South Africa Limited For further information, please contact: Company Secretary Fiona Edmundson [email protected] Investors: Leroy Mnguni [email protected] Marcela Grochowina [email protected] Media: Cindy Maneveld [email protected] ABOUT VALTERRA PLATINUM Valterra Platinum is one of the world's leading integrated producers of platinum group metals (PGMs) with a primary listing on the Johannesburg Stock Exchange and a secondary listing on the London Stock Exchange.”

• Resolutions regarding the election of Mr. Lwazi Bam to two committees were formally withdrawn due to his prior resignation, formalizing a vacancy in the board's oversight structures.

  “In this regard, Valterra Platinum confirms the voting results from the AGM as follows: Number of Percentage For (as a Against (as a shares voted at shares voted at % of shares % of shares Resolutions proposed the meeting the meeting* voted at the voted at the Abstain* % meeting) meeting) % Ordinary resolution 1.1: To re- elect Mr Suresh Kana 192,082,364 72.40 97.81 2.19 0.13 Ordinary resolution 1.2: To re- elect Mr Roger Dixon 192,389,712 72.52 98.22 1.78 0.02 Ordinary resolution 1.3: To re- elect Mr Stephen Phiri 192,391,645 72.52 99.99 0.12 0.02 Ordinary resolution 2.1: To elect Ms Deborah Gudgeon 192,391,666 72.52 98.04 1.96 0.02 Ordinary resolution 2.2: To elect Ms Thoko Mokgosi-Mwantembe 192,389,515 72.52 99.48 0.52 0.02 Ordinary resolution 3.1: Election of Audit and Risk Committee 192,082,374 72.40 97.65 2.35 0.13 member - Mr Suresh Kana Ordinary resolution 3.2: Election of Audit and Risk Committee Withdrawn due to resignation member - Mr Lwazi Bam Ordinary resolution 3.3: Election of Audit and Risk Committee 192,391,549 72.52 98.96 1.04 0.02 member - Ms Thevendrie Brewer Ordinary resolution 3.4: Election of Audit and Risk Committee 192,391,628 72.52 98.35 1.65 0.02 member - Ms Deborah Gudgeon Ordinary resolution 3.5: Election of Audit and Risk Committee 192,389,725 72.52 95.63 4.37 0.02 member - Ms Fagmeedah Petersen-Cook Ordinary resolution 4.1: Election of Social, Ethics and Governance Committee member - Mr Lwazi Withdrawn due to resignation Bam Ordinary resolution 4.2: Election of Social, Ethics and Governance Committee member - Mr Roger 192,012,733 72.38 98.86 1.14 0.16 Dixon Ordinary resolution 4.3: Election of Social, Ethics and Governance Committee member - Mr Dorian 192,391,540 72.52 99.49 0.51 0.02 Emmett Ordinary resolution 4.4: Election of Social, Ethics and Governance 192,391,662 72.52 98.35 1.65 0.02 Committee member - Ms Deborah Gudgeon Ordinary resolution 4.5: Election of Social, Ethics and Governance 192,082,367 72.40 97.88 2.12 0.13 Committee member - Mr Suresh Kana Ordinary resolution 4.6: Election of Social, Ethics and Governance 192,389,579 72.52 99.66 0.34 0.02 Committee member - Ms Thoko Mokgosi-Mwantembe Ordinary resolution 4.7: Election of Social, Ethics and Governance 192,391,572 72.52 99.91 0.09 0.02 Committee member - Mr Stephen Phiri Ordinary resolution 5: Re- appointment of independent external auditors, 192,392,116 72.52 98.11 1.89 0.02 PricewaterhouseCoopers Ordinary resolution 6: To grant directors a general authority to allot and issue up to 3% unissued 191,644,756 72.24 89.28 10.72 0.30 shares, at their discretion Ordinary resolution 7: General authority to repurchase 192,357,281 72.51 77.17 22.83 0.03 company shares Ordinary resolution 8: Authority to implement resolutions 192,391,758 72.52 99.10 0.90 0.02 Non-binding advisory vote 9.1: To endorse the remuneration policy 192,391,191 72.52 93.66 6.34 0.02 Non-binding advisory vote 9.2: To endorse the remuneration 192,389,202 72.52 95.45 4.55 0.02 implementation report Special resolution 1: To approve the non-executive directors' fees 192,392,328 72.52 97.62 2.38 0.02 Special resolution 2: General authority for the provision 192,271,653 72.48 99.37 0.63 0.06 of financial assistance *Total issued ordinary share capital is 265,292,206 JSE equity sponsor: Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities JSE debt sponsor: The Standard Bank of South Africa Limited For further information, please contact: Company Secretary Fiona Edmundson [email protected] Investors: Leroy Mnguni [email protected] Marcela Grochowina [email protected] Media: Cindy Maneveld [email protected] ABOUT VALTERRA PLATINUM Valterra Platinum is one of the world's leading integrated producers of platinum group metals (PGMs) with a primary listing on the Johannesburg Stock Exchange and a secondary listing on the London Stock Exchange.”

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