Tranche Update on Sylvania Platinum Limited's Equity Buyback Plan announced on May 2, 2023.

Sylvania Platinum Limited is a producer of platinum group metals (PGM), including platinum, palladium and rhodium with operations located in South Africa. The Company’s core business is the retreatment of PGM bearing chrome tailings material. The Sylvania Dump Operations (SDO) comprises six chrome beneficiation and PGM processing plants located on both the Eastern and Western Limb of the Bushveld Igneous Complex (BIC), focusing on the retreatment of PGM-rich chrome tailings materials from mines in BIC. The SDO is the PGM producer from chrome tailings re-treatment in the industry. The Company also holds mining rights for PGM projects and a chrome prospect in the Northern Limb of the Bushveld Complex. Volspruit and Grasvally are shallow mining and exploration projects on the northern limb. The Northern Limb Projects include four platinum group metal (PGM) exploration targets in proximity to each other at the extreme north of the northern limb of the Bushveld Igneous Complex.