ANNEXURE: ACRONYMS
| AGM | Annual general meeting | |
| Anglo | Anglo South Africa Capital Proprietary Limited | |
| B-BBEE | Broad-based black economic empowerment | |
| BEE | Black economic empowerment | |
| BEE Implementation Date | The day that the Replacement BEE Transaction (excluding the Second Repurchase) is implemented, which was 11 December 2017 | |
| BEE Parties | BEE SPV and IDC | |
| BEE Reinvested Shares | 40 390 461 Exxaro shares reinvested as part of the Replacement BEE Transaction, being the sum of 28 052 845 Exxaro shares reinvested pursuant to the MS333 Reinvestment and 12 337 616 Exxaro Shares reinvested pursuant to the IDC Reinvestment | |
| BEE Shares | The 107 612 026 Exxaro shares that NewBEECo holds after the implementation of the Replacement BEE Transaction | |
| BEE SPV | K2016475450 (South Africa) Proprietary Limited, a special purpose private company incorporated in accordance with the laws of South Africa, for the purposes of holding the Reinvesting MS333 Shareholders’ interests in NewBEECo, reinvested pursuant to the MS333 Reinvestment | |
| Black Mountain | Black Mountain Proprietary Limited | |
| Cennergi | Cennergi Proprietary Limited | |
| Chifeng | Chifeng Kumba Hongye Corporation Limited | |
| Companies Act | Companies Act No 71 of 2008, as amended | |
| Curapipe | Curapipe Systems Limited | |
| DCF | Discounted cash flow | |
| DCM | Dorstfontein Coal Mine | |
| DMTN | Domestic Medium-Term Note | |
| ECC | Exxaro Coal Central Proprietary Limited | |
| EITAG | Exxaro International Trading AG | |
| Eloff | Eloff Mining Company Proprietary Limited | |
| EMJV | Ermelo joint venture | |
| Exiting MS333 Interests | The Exxaro shares held by MS333 excluding the BEE Reinvested Shares | |
| Exxaro | Exxaro Resources Limited | |
| Exxaro Independent Shareholders | Exxaro Shareholders excluding MS333, MS333’s direct and indirect shareholders and NewBEECo | |
| FY16 | Financial year ended 31 December 2016 | |
| FY17 | Financial year ended 31 December 2017 | |
| FZO | Forzando Coal Mine | |
| GG | Grootegeluk | |
| HDSA | The meaning given to it, or any equivalent or replacement term, in the broad-based socio-economic empowerment charter for the South African Mining Industry, developed under section 100 of the MPRDA, as amended or replaced from time to time | |
| HEPS | Headline earnings per share | |
| IAS | International Accounting Standard | |
| IASB | International Accounting Standards Board | |
| IDC | Industrial Development Corporation of South Africa Limited | |
| IDC Reinvestment | The IDC reinvestment into the Replacement BEE Transaction by contributing 12 337 616 Exxaro shares to NewBEECo, and being issued 22,9% of the ordinary shares in NewBEECo as consideration | |
| IFRS | International Financial Reporting Standard | |
| JIBAR | Johannesburg Interbank Agreed Rate | |
| JSE | JSE Limited | |
| kcal | Kilocalorie | |
| King IV | King IV Report on Governance for South Africa 2016 | |
| KIO | Kumba Iron Ore Limited | |
| kt | Kilo tonnes | |
| Listings Requirements | JSE Listings Requirements | |
| LME | London Metal Exchange | |
| LOM | Life of mine | |
| LTIFR | Lost-time injury frequency rate | |
| Mafube | Mafube Coal Proprietary Limited | |
| Main Street 333 or MS333 | Main Street 333 Proprietary Limited (RF) | |
| Manyeka | Manyeka Coal Mines Proprietary Limited | |
| Mpower 2012 | Exxaro Employee Empowerment Trust | |
| MPRDA | Mineral and Petroleum Resources Development Act 28 of 2002 | |
| MS333 Reinvestment | The Reinvesting MS333 Shareholders’ reinvestment into the New Empowerment Structure by contributing 28 052 845 Exxaro shares to BEE SPV, which were utilised by BEE SPV to subscribe for 52,2% of the ordinary shares in NewBEECo, and being issued ordinary shares in BEE SPV on a pro rata basis as consideration | |
| MS333 Unwind | The unwinding of the Previous BEE Transaction in accordance with the Transaction Agreements | |
| Mt | Million tonnes | |
| NBC | North Block Complex | |
| NEMA | National Environmental Management Act of 1998 | |
| New Empowerment Structure | The tiered NewBEECo shareholding structure of the ordinary shareholders and respective shareholding percentages | |
| NewBEECo | K2016473215 (South Africa) Proprietary Limited, a special purpose private company incorporated in accordance with the laws of South Africa, which will hold the BEE Shares | |
| PIC | Public Investment Corporation | |
| PRC | People’s Republic of China | |
| Previous BEE Transaction | The series of transactions entered into by Kumba Resources Limited, Anglo American Plc and Eyesizwe Mining Proprietary Limited which resulted in the creation of Exxaro, the unbundling of Kumba Iron Ore Limited and the acquisition of a controlling interest in Exxaro by MS333, as captured in the relevant circular date 9 October 2006 | |
| Prime Rate | South African prime bank rate | |
| PwC | PricewaterhouseCoopers Incorporated | |
| RBCT | Richards Bay Coal Terminal | |
| Rbn | Rand billion | |
| Reinvesting MS333 Shareholders | Each of the below, together with their
holdings in the ordinary share capital of BEE
SPV, set alongside such shareholder’s name: – Dreamvision Investments 15 Proprietary Limited (RF), 84,2% – Basadi Ba Kopane Investments Proprietary Limited (RF), 12,7% – Eyabantu Capital Consortium Proprietary Limited, 3,1% |
|
| Replacement BEE Transaction | The transaction implemented which resulted in Exxaro being held 30% by HDSAs, and which transaction includes, as indivisible elements, the Second Repurchase, the MS333 Unwind and the Specific Issue | |
| Rm | Rand million | |
| RMB | Chinese renminbi | |
| ROM | Run of mine | |
| SAICA | South African Institute of Chartered Accountants | |
| SAMREC Code | The South African code for the reporting of exploration results, mineral resources and mineral reserves | |
| SARS | South African Revenue Service | |
| SDCT | South Dunes Coal Terminal SOC Limited | |
| Second Repurchase | Repurchase by Exxaro of 22 686 572 Exxaro shares from MS333 for consideration of R118,76 per share | |
| SENS | Securities Exchange News Service | |
| SIOC | Sishen Iron Ore Company Proprietary Limited | |
| SOC | State-owned company | |
| Specific Issue | Specific issue by Exxaro of 67 221 565 shares to NewBEECo for consideration of R73,92 per share | |
| SSCC | Semi-soft coking coal | |
| Tata Power | Tata Power Company Limited | |
| TiO2 | Titanium dioxide | |
| Transaction Agreements | The detailed agreements entered into by various parties to give effect to the Replacement BEE Transaction | |
| Tronox | Exxaro’s investment in Tronox entities | |
| Tronox SA | Tronox KZN Sands Proprietary Limited and Tronox Mineral Sands Proprietary Limited | |
| Tronox UK | Tronox Sands Limited Liability Partnership in the United Kingdom | |
| Universal | Universal Coal development IV Proprietary Limited | |
| US$ | United States dollar | |
| VAT | Value added tax | |
| VWAP | Volume weighted average price | |
| WATP | Weighted average trading price |