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Pro Forma Financial Effects

WESTONARIA 17 December 2015: Sibanye Gold Limited (“Sibanye” or the “Group”) presents the pro forma financial effects of the acquisitions of Bathopele, Siphumelele (including Khomanani) and Thembelani (including Khuseleka) mining operations (collectively the “Rustenburg Operations”) adjusted for the post balance sheet announcement of the proposed Aquarius Platinum Limited (“Aquarius”) acquisition as referred to in Annexure 3 Section C of the Circular to Sibanye shareholders dated 15 December 2015.

PRO FORMA FINANCIAL EFFECTS

The pro forma financial effects illustrate the impact of the acquisition of the Rustenburg Operations and the post balance sheet announcement of the proposed Aquarius acquisition (collectively the “Transactions”) on the Earnings Per Share (“EPS”), diluted EPS, Headline EPS (“HEPS”), diluted HEPS, Net Asset Value (“NAV”) per share and tangible NAV (“TNAV”) per share of Sibanye for the six months ended 30 June 2015.

The pro forma financial information is presented in accordance with the provisions of the JSE Listings Requirements and the Guide on Pro Forma Financial Information issued by the South African Institute of Chartered Accountants.

The pro forma financial effects have been prepared by management of Sibanye and are the responsibility of the board of directors of Sibanye.

The pro forma financial effects are presented in a manner consistent with the basis on which the historical financial information of Sibanye has been presented and in terms of Sibanye’s accounting policies for the financial year ended 31 December 2014. The pro forma financial effects have been presented for illustrative purposes only and, because of their nature, may not give a fair reflection of Sibanye’s financial position, changes in equity or results of operations post implementation of the Transactions.

It has been assumed for purposes of the pro forma financial effects that the Transactions took place with effect from 1 January 2015 for the income statement and on 30 June 2015 for the statement of financial position.

The pro forma financial information relating to the Transactions have been prepared based on the following assumptions:

  • The R1.5 billion Upfront Purchase Price of the Rustenburg Operations transaction is discharged in cash by raising a loan, refer to Section C 1 of this announcement.
  • The R1.5 billion Upfront Purchase Price of the Rustenburg Operations transaction is discharged through the allotment and issue by Sibanye Consideration Shares to Rustenburg Platinum Mines Proprietary Limited (“RPM”) in the share capital of Sibanye, refer to Section C 2 of this announcement.

KPMG Inc. have issued an unmodified independent reporting accountants’ assurance report on the pro forma financial information presented in Section C below. A copy of their report is available for inspection at the Company’s Registered Office.

Contact

James Wellsted
Head of Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za

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