Exxaro Resources Limited

Reviewed condensed group financial statements and unreviewed production and sales volumes information for the year ended 31 December 2023

Annexure: Acronyms

Adjusted Group Earnings

Group core net profit after tax (excluding SIOC core equity-accounting income) less NCI of Exxaro subsidiaries (excluding NCI of Eyesizwe)

Amakhala SPV

Amakhala Emoyeni RE Project 1 (RF) Proprietary Limited

API4

All publications index 4 (FOB Richards Bay 6000/kcal/kg)

B-BBEE

Broad-based black economic empowerment

BEE

Black economic empowerment

BEE Parties

External shareholders of Eyesizwe

Black Mountain

Black Mountain Proprietary Limited

Capex

Capital expenditure

CCUS

Carbon capture, utilisation, and storage

Cennergi

Cennergi Proprietary Limited group of companies

Chifeng

Chifeng NFC Zinc Co. Limited

Companies Act

Companies Act of South Africa No 71 of 2008, as amended

DCF

Discounted cash flow

DMRE

Department of Mineral Resources and Energy

DMTN

Domestic Medium-Term Note

DWS

Department of Water and Sanitation

EBITDA

Net operating profit before interest, tax, depreciation, amortisation, impairment charges or impairment reversals and net losses or gains on the disposal of assets and investments (including translation differences recycled to profit or loss)

ECC

Exxaro Coal Central Proprietary Limited or ECC group of companies

ECL(s)

Expected credit loss(es)

ESD

Enterprise and supplier development

ESG

Environment, social and governance

Exxaro

Exxaro Resources Limited (the group or the company)

Eyesizwe

Eyesizwe (RF) Proprietary Limited, a special purpose private company which has a 30.81% shareholding in Exxaro

FerroAlloys

Exxaro FerroAlloys Proprietary Limited

FEC(s)

Forward foreign exchange contract(s)

Ferroland

Ferroland Grondtrust Proprietary Limited

FOB

Free on board

FVOCI

Fair value through other comprehensive income

FVPL

Fair value through profit or loss

GDP

Gross domestic product

GWh

Gigawatt hour

HEPS

Headline earnings per share

IAS

International Accounting Standard(s)

IASB

International Accounting Standards Board

IFRS

International Financial Reporting Standard(s)

Insect Technology

Insect Technology Group Holdings UK Limited

JIBAR

Johannesburg Interbank Average Rate

JSE

JSE Limited

JV

Joint venture

KPMG

KPMG Inc.

kt

Kilo tonnes

LightApp

LightApp Technologies Limited

Listings Requirements

JSE Listings Requirements

LoM

Life of mine

LSP

Lephalale Solar Photovoltaic Project

LSP SPV

Lephalale Solar Proprietary Limited

LTIFR

Lost-time injury frequency rate

Mafube

Mafube Coal Proprietary Limited

Mt

Million tonnes

NCI(s)

Non-controlling interest(s)

OCI

Other comprehensive income

Overlooked Colliery

Overlooked Colliery Proprietary Limited

Prime Rate

South African prime bank rate

RBCT

Richards Bay Coal Terminal Proprietary Limited

Rbn

Rand billion

Rm

Rand million

SAICA

South African Institute of Chartered Accountants

SARB

South African Reserve Bank

SIOC

Sishen Iron Ore Company Proprietary Limited

SMME(s)

Small, medium and micro-enterprises

SSCC

Semi-soft coking coal

TFR

Transnet Freight Rail

Thungela

Thungela Resources Limited, through its subsidiary South Africa Coal Operations Proprietary Limited

Tsitsikamma SPV

Tsitsikamma Community Wind Farm Proprietary Limited

UK

United Kingdom

US$

United States dollar

USA

United States of America

VAT

Value Added Tax

WANOS

Weighted average number of shares