• Operator of flagship Waterberg PGM Project located in South Africa, which is home to 70% of platinum and 35% of palladium global mine production in 2023
• Over $89M invested to date in exploration and feasibility engineering since initial discovery in 2011
• The Waterberg Project has proven and estimated reserves of 19.5 million ounces of PGMs and gold with a projected production life of 45 years
• Partnered with major integrated PGM producer Impala Platinum Holdings Ltd. and Japanese consortium HJ Platinum, which includes trading house Hanwa Co. and the government-backed Japan Organization for Metals and Energy Security
• A 2019 Definitive Feasibility Study (“DFS”) confirmed Waterberg as one of the largest and lowest cost undeveloped PGM projects globally
• In December 2023, entered an agreement with Ajlan & Bros Mining and Metals to study establishment of a PGM smelter and base metals refinery in Saudi Arabia
• PGM market dynamics are favorable based on growing demand from gasoline hybrid and plug-in hybrid (“PHEV”) technology adoption and expected supply cutbacks from major producers in Southern Africa, North America and Russia
• An update to the 2019 Waterberg Definitive Feasibility Study is expected in 2024
• Founded Lion Battery Technologies Inc. in partnership with Anglo American Platinum Ltd. (AMS: JSE) to research and commercialize the use of PGMs in lithium-sulfur battery chemistry

Platinum Group Metals (NYSE American: PLG) (TSX: PTM) is the operator of the Waterberg Project, a bulk underground platinum group metals (“PGM”) deposit discovered by Platinum Group in 2011 and located on the Northern Limb of the Bushveld Complex in South Africa. The Waterberg Project is planned as a fully mechanized platinum, palladium, rhodium and gold mine, including by-product copper and nickel production, and is projected to be one of the largest and lowest cost PGM mines globally.

The project is a joint venture between Platinum Group; integrated PGM producer Impala Platinum Holdings Ltd. (OTCQX: IMPUY); Japanese consortium HJ Platinum, which includes trading house Hanwa Co. and the government-backed Japan Organization for Metals and Energy Security (“JOGMEC”); and…

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NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG

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