Nov. 10 at 11:20 AM
$SBSW
Johannesburg, 10 November 2025: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) and Funds sponsored by Appian Capital Advisory Limited and its affiliates (collectively, “Appian” and, together with Sibanye-Stillwater, the “Parties”) have agreed a commercial settlement of the dispute arising from Sibanye-Stillwater’s termination of the transaction with Appian to acquire shares of Atlantic Nickel and Mineração Vale Verde from Appian in January 2022 for a total payment of US
$215 million (inclusive of £5 million in legal fees already paid). The Parties have invested significant time, effort, and resources into this dispute and are pleased to have resolved the matter ahead of the quantum trial, which was due to begin today.