Group structure

⁽¹⁾	Assets held through a 50% shareholding in Assmang Limited.
⁽²⁾	Assets held through ARM’s 50% interest in the Vale/ARM JV.
⁽³⁾	Assets held through the ARM Mining Consortium’s effective interest of 41.5%, the balance held by local communities.
⁽⁴⁾	Platinum Australia, which will earn in up to 49% of ARM Platinum’s shareholding on completion of a bankable feasibility study, also owns 50% of the Kalplats Extended Area. In the event that the JV acquires Anglo American’s 10%, Platinum Australia has the right to acquire 49% of the acquired 10%.
⁽⁵⁾	Konkola North is subject to a buy-in right up to 20% (5% carried interest) by state-owned ZCCM Investment Holdings plc.
⁽⁶⁾	Primary listing on JSE.
⁽⁷⁾	ARM shareholding in Two Rivers will reduce to 51% once the transfer of Kalkfontein 4, 5 and 6 and Tweefontein prospecting rights has been effected..
⁽⁸⁾	Assmang Limited owns 50% of CR Alloys
⁽⁹⁾	ARM Exploration is involved in identifying and assessing exploration and mineral business opportunities in sub-Saharan Africa.