DGAP-Adhoc

Sibanye Gold Limited: OPTIONAL REDEMPTION NOTICE

DGAP-Ad-hoc: Sibanye Gold Limited / Key word(s): Miscellaneous Sibanye Gold Limited: OPTIONAL REDEMPTION NOTICE 18-Sep-2020 / 17:23 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF BONDHOLDERS. IF BONDHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL AND LEGAL ADVICE IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL OR LEGAL ADVISER

THIS NOTICE IS NOT FOR DISTRIBUTION IN OR TO ANY PERSON LOCATED IN ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW

18 September 2020

OPTIONAL REDEMPTION NOTICE

TO THE HOLDERS OF THE USD450,000,000 1.875 PER CENT. GUARANTEED CONVERTIBLE BONDS DUE 2023 (THE "BONDS")
ISSUED BY SIBANYE GOLD LIMITED (THE "ISSUER") ISIN: XS1689727920

NOTICE IS HEREBY GIVEN to the Trustee and the holders of outstanding Bonds (the "Bondholders") in accordance with the terms and conditions of the Bonds (the "Conditions") that the Issuer is exercising its option under Condition 7.2(a) to redeem all outstanding Bonds on 19 October 2020 (the "Optional Redemption Date") at their principal amount, together with accrued but unpaid interest up to (but excluding) the Optional Redemption Date. The amount of accrued interest payable in respect of each Bond in the principal amount of USD200,000 on the Optional Redemption Date is USD 239.58.

Bondholders are entitled to exercise Conversion Rights in accordance with Condition 6.1 by delivering a Conversion Notice to the specified office of the Principal Paying, Transfer and Conversion Agent during its usual business hours. The last day on which Conversion Rights may be exercised by Bondholders is 9 October 2020.

As at the date of this Optional Redemption Notice, the Conversion Price is USD 1.5449 per Ordinary Share of Sibanye Stillwater Limited.

In accordance with the Conditions, Conversion Rights may not be exercised in the period commencing on 18 September 2020 and ending on 26 September 2020 (both days inclusive) (the "Closed Period"). However, if a Conversion Notice is otherwise validly completed and delivered to the specified office of the Principal Paying, Transfer and Conversion Agent during the Closed Period, the Issuer will treat the Conversion Notice as validly delivered. The Conversion Date with respect to any such Conversion Notice will be deemed to be 28 September 2020 i.e. the business day in Johannesburg immediately following the end of the Closed Period.