Stillwater Mining Company Provides Update on Reorganization Plan and Labor Matters at the Stillwater Mine and Columbus Processing Facilities

Stillwater Mining Company

today updated its previously announced reorganization plans. As a result of the deteriorating PGM market environment, the Company is reducing its workforce, primarily at the Stillwater Mine and Columbus processing facilities, by 119 employees. In addition, the Company has modified its mine plan to focus on the most profitable mining areas within the Stillwater Mine and will continue efforts to maximize production from the East Boulder Mine. The Company will continue to closely monitor market conditions and may make other adjustments as necessary. Labor Matters The labor contract with employees represented by the USW International Union Local 11-0001 at the Stillwater Mine and Columbus processing facilities expired on June 12, 2015. Subsequently, employees at these sites voted twice, and rejected, a tentative labor agreement reached on May 27, 2015 that was recommended by the USW International Union Local 11-0001. Following the votes, employees have continued to work under the terms of the previously expired contract. On July 30, 2015, the Company notified the union that negotiations had reached an impasse and that it would implement its last, best and final contract offer, which is the same agreement previously rejected by the represented employees. The material points of the contract are: No increase in base wages for each of the first two years of the agreement Simplification of the incentive program and the introduction of metrics that better align employee and shareholder outcomes The Company will implement the new agreement on September 1, 2015.