Independent auditor's report on the review of the condensed group financial statements

TO THE SHAREHOLDERS OF EXXARO RESOURCES LIMITED

Introduction

We have reviewed the accompanying condensed group statement of financial position of Exxaro Resources Limited (the group) at 31 December 2023, the condensed group statements of comprehensive income, changes in equity and cash flows for the year then ended, and Corporate background to Events after the reporting period, comprising material accounting policies and other explanatory information (the condensed group financial statements) as set out in the financial statements . The directors are responsible for the preparation and presentation of these condensed group financial statements in accordance with IAS 34 Interim Financial Reporting and with the requirements of the JSE Limited Listings Requirements that require the condensed group financial statements be prepared in accordance with the framework concepts and the measurement and recognition requirements of IFRS Accounting Standards (as issued by the International Accounting Standards Board (IASB)), and the Financial Pronouncements as issued by the Financial Reporting Standards Council and the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee. Our responsibility is to express a conclusion on these condensed group financial statements based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of condensed group financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed group financial statements at 31 December 2023 is not prepared, in all material respects, in accordance with IAS 34 Interim Financial Reporting, and with the requirements of the JSE Limited Listings Requirements that require the condensed group financial statements be prepared in accordance with the framework concepts and the measurement and recognition requirements of IFRS Accounting Standards (as issued by the International Accounting Standards Board (IASB)), and the Financial Pronouncements as issued by the Financial Reporting Standards Council and the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee.

KPMG Inc.
Registered Auditor

Per SM Loonat
Chartered Accountant (SA) Registered Auditor Director
14 March 2024

KPMG Crescent
85 Empire Road
Parktown
2193