Investment Analysts And Fund Managers Visit Union Platinum Mine. 7 May 2004

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2 Investment Analysts And Fund Managers Visit Union Platinum Mine 7 May 2004

3 Agenda Location Safety and Environment Geology Resources and Reserves Mining Method Production Metallurgy Operating Cost Capital Program Human Resources Key Business Issues

4 Location

5 UNION LOCATION Legend Bushveld Complex Anglo Platinum Anglo Platinum - Joint Venture Impala Platinum Mines Lonmin PLC Northam Platinum Limited POTGIETERSRUST PLATINUMS LIMITED MOKOPANE (POTGIETERSRUS) POLOKWANE (PIETERSBURG) %U %U ð Polokwane Smelter LEBOWA PLATINUM MINES UNKI PROJECT Namibia Botswana Republic of South Africa Zimbabwe Mozambique Southern Era Merensky UG2 Platreef AMANDELBULT NORTHAM LIMPOPO PASCHASKRAAL JV TWICKENHAM MODIKWA %U BURGERSFORT BELA BELA (WARMBATHS) %U UNION BAFOKENG/RASIMONE STYLDRIFT JV NORTH-WES T DER BROCHEN BOOYSENDAL JV LYDENBURG %U RUSTENBURG GAUTENG %U RUSTENBURG PANDORA JV %U PRETORIA MPUMALANGA WITBANK %U ± %U JOHANNESBURG Kilometres

6 Plan of RPM Union

7 SHE Strategy

8 ! Creating a culture of safety, participation, quality, excellence and being performance driven. By being focused on:- Safe and sound mining practices Employee development Employee relations Cost efficiency Union Section s Vision We at Union Section Support the Vision & Values of Care for the environment Anglo Platinum by: Strategic management which will ensure ore body optimization, sustainable delivery and growth

9 Union Section s Ethos Care for our people Environmental care Consistent performance Continuous improvement Ensure sustainability

10 RECENT SAFETY MILESTONES ON THE ROAD TO EXCELLENCE 1.4 Million underground fatality free shifts. Surface Section 6,5 million fatality free shifts fatality free for more than 9 years. Achieved ISO accreditation.

11 Union Section LTIFR 2000 to ACTUAL

12 Safety Strategy Greater participation by all Behaviour Based Safety Restructuring of SHE resource Safer methods and equipment Permanent Engineering solutions Contractor Management Fall of Ground prevention strategy

13 Geology

14 UNION LOCATION ON LANDSAT IMAGE 10 AMANDELBULT Kilometres ROODERAND UNION BAFOKENG/RASIMONE RUSTENBURG PANDORA JV RUSTENBURG!(

15 Union Section Merensky - 20 Year Plan N

16 Union Section UG2-20 Year Plan N

17 ALL DRILLING SPACING LEGEND UNDERGROUND DRILLHOLES SURFACE DRILLHOLES

18 UG1 CHROMITITE LAYER UNION ECONOMIC STRATIGRAPGY 0 m UPDIP DOWNDIP Mottled Anorthosite MAIN REEF NORITE MERENSKY REEF CONTACT REEF 18 Pseudo Marker LENS REEF TARENTAAL PYROXENITE POTHOLE REEF SINGLE CHROME POTHOLE REEF PYROXENITE 36 UG2 SLUMP SHALLOW SLUMP REEF SLUMP REEF PYROXENITE UG2 CHROMITITE LAYER XENOLITH 54

19 MINERALISATION " Merensky Reef Mining predominantly Regional Pothole Merensky Reef. Consistent width and grade Dip angle 18 degrees " UG2 Reef Consistent width and grade Leaders mined with main seam The UG2 structure on the flanks is more complex than the central area. Minor slumping Dip angle 18 degrees

20 MAIN REEF CHARACTERISTICS HW PYROXENITE MAIN REEF PEGMATOID AVE~220CM FOOTWALL ANORTHOSITE

21 POTHOLE REEF CHARACTERISTICS PYROXENITE PEGMATOIDAL FELSPATHIC PYROXENITE FELSPATHIC HARTZBURGITE o o o o o o O /\ /\ O O /\ /\ O O /\ /\ O O /\ /\ O O /\ /\ O O /\ /\ O O /\ 20CM g/t

22 UG2 CHARACTERISTICS Feldspathic Harzburgite o /\ /\ O Main Seam Leader seams Chromitite Pyroxenite Chromitite Pyroxenite Chromitite 80CM 155CM Pegmatoidal Felspathic Pyroxenite O O O O O O O O g/t

23 MAJOR STRUCTURAL FEATURES DYKES FAULTS 25M 30M 200M 500M 150M

24 Resources and Reserves

25 RESOURCES Ore Body Category Tonnage (Mt) 4E In situ Grade 4E Ounces Merensky Reef Inferred Resources Indicated Resources Total Resources Ore Body Category Tonnage (Mt) 4E In situ Grade 4E Ounces UG2 Reef Inferred Resources Indicated Resources Total Resources Ore Body Category Tonnage (Mt) 4E In situ Grade 4E Ounces Tailings Indicated Resources

26 Reserves Ore Body Category Tonnage (Mt) 4E Head Grade 4E Ounces Merensky Reef Proved Reserves Probable Reserves Total Reserves Ore Body Category Tonnage (Mt) 4E Head Grade 4E Ounces UG2 Reef Proved Reserves Probable Reserves Total Reserves

27 MONTHS AVAILABLE ORE RES ERVES MONTHS YEAR

28 Mining Method

29 Mine Design Mining Methods Decline Section Mechanised F/W Access with conventional Mining Low Profile Breast mining Mined Mechanised Low Profile with Belts Spud & Richard Shaft UG2 Mined Conventional Breast Mined Merensky Scattered Merensky Breast special precautions

30 Tamrock Low Profile Roof Bolter

31 Sulzer Rig

32 4 South Portal

33 4 B Portal

34 Production

35 Union Section Equivalent Refined Pt Ounces Ounces , , , ,200 Ounces

36 History Tons Milled Tons Milled Tons Milled

37 Metallurgy

38 Metallurgical processing Prill Splits UG2 Mer 4E % of 4E Total % % % 4E Platinum (% of 4E split) 60.74% 61.73% 4E Palladium (% of 4E split) 27.52% 28.96% 4E Rhodium (% of 4E split) 11.18% 7.34% 4E Gold (% of 4E split) 0.56% 1.96% Pt Iridium (% of Pt split) 6.37% 3.89% Pt Osmium (% of Pt split) - - Pt Ruthenium (% of Pt split) 24.24% 17.20%

39 Ivan Plant Tailings Retreatment

40 Operating Costs

41 RPM Union Section Cash on-mine cost per equivalent refined ounces 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, Cash on-mine cost per equivalent refined ounce

42 RPM Union Section Cash on-mine cost per ton milled Cash on-mine cost per ton milled

43 Pie Graph - Cost Comparison 2003 Utilities 6% Sundries 6% Amortisation 8% Labour 40% Stores 31% Contractors 9% Labour Contractors Stores Utilities Sundries Amortisation

44 COST INITIATIVES Concentration of Production Lower Cost Decline Production On-mine Cost Reduction

45 STRATEGY Move from deep mining to shallow mining. Move from conventional mining to safer, mechanised mining where appropriate and cost effective. Convert current high profile mechanised to low profile mechanised. Increase UG2 M2 production at Spud shaft and Declines. Extra UG2 to be milled at Ivan plant. Mining, Metallurgical, People optimisation.

46 Capital Programmes

47 R' Capital Expenditure 2000 to

48 Capital Programs Main items 2002 and B and 4South Mortimer plant Airfields tailings dam Infrastructure

49 4 South Portal

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51 Fully Automatic Low Profile Roof Bolter

52 Tamrock EJC Low Profile Loader

53 Tip-point chain feeder

54 Mortimer UG2 Expansion to tpm

55 Slag Flotation Plant

56 Airfields Tailings Dam & Tailings Thickener

57 Larox Filter

58 Surface Railway

59 Northam Road Upgrades

60 Human Resources

61 Human Resources strategy Union HR Summary of Strategic Thrusts - Business Planning - Performance Management - Employee Communications - Work Design - Human Resources Development - Recruitment Selection & Assessments - Employment Equity - Employee Relations - Socio-Economic Development

62 Human Resources Employee Relations Employee relations are sound and are guided by the employee relations policy which has been signed and accepted by all players. Employment of local employees % of the UNION SECTION S labour is from local communities Contractors Contractors will be utilized in accordance with established policies and procedures when and where it can be done in the most cost effective way. Training UNION SECTION has both underground and surface training centers. Anglo Platinum training department is certified ISO9001 compliant. (The on mine facility compliance audit is scheduled for 13 May 2004.) Focus for 2004 will be supervisory development, mentorship, implementation of FOG regulations, Strata Control and Rock Engineering training.

63 Key Business Issues Efficiency Improvements Cost Optimisation HIV/Aids Charter Compliance

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