SYLVANIA PLATINUM Business Summary

Sylvania Platinum Ltd (SLP) operates a specialized business model focused on the recovery and production of platinum group metals (PGM) and chrome from historical and current tailings. The company generates revenue primarily through the sale of a 4E PGM basket—comprising platinum, palladium, rhodium, and gold—and has recently diversified its income streams through the Thaba Joint Venture, which adds significant chrome concentrate production. Its primary business segments are the Sylvania Dump Operations (SDO), consisting of six processing plants across the Eastern and Western Limbs of South Africa’s Bushveld Igneous Complex, and its exploration and development division targeting the Northern Limb. Positioned as a high-margin, low-cost specialist in the PGM sector, Sylvania competes with larger primary miners and secondary processors such as Impala Platinum Holdings (Implats), Jubilee Metals Group, and Platinum Group Metals Ltd. Unlike traditional miners, Sylvania’s focus on re-treating waste material allows it to maintain a lower capital expenditure profile and operate in the lowest quartile of the industry cost curve. The leadership team is headed by CEO Jaco Prinsloo, a metallurgical engineer with over two decades of experience who has led the company since 2020 after serving in senior operational roles since 2012. In December 2025, Ronel Bosman, a Chartered Accountant with extensive expertise in mining taxation and commodity trading, was appointed as Chief Financial Officer. The executive team is supported by Christiaan de Wet (Executive Officer: Operations) and Albert Jordaan (Executive Officer: New Business). The Board is chaired by Eileen Carr, a resource sector veteran with 35 years of experience, and recently added Martin Preece, the former COO of Gold Fields, as a Non-Executive Director in February 2026. Notable institutional backing includes significant holdings from Miton Asset Management, BlackRock Smaller Companies, and Premier Fund Managers, reflecting strong investor confidence in the company’s operational execution and dividend-paying capacity.