Exxaro Resources Limited

Reviewed condensed group financial statements and unreviewed production and sales volumes information for the year ended 31 December 2024

Glossary

  Adjusted Group Earnings   Group adjusted net profit after tax (excluding SIOC adjusted 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)
  BEE Parties   External shareholders of Eyesizwe
  Black Mountain   Black Mountain Mining Proprietary Limited
  Capex   Capital expenditure
  Cennergi   Cennergi Holdings Proprietary Limited group of companies
  Cennergi Holdings   Cennergi Proprietary Limited
  Chifeng   Chifeng NFC Zinc Co. Limited
  CO2e/kt   carbon dioxide equivalent per 1 000 total tonnes mined
  Companies Act   Companies Act of South Africa No 71 of 2008, as amended
  DCF   Discounted cash flow
  DMRE   Department of Mineral Resources and Energy
  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
  Exxaro   Exxaro Resources Limited (the group or the company)
  Eyesizwe   Eyesizwe (RF) Proprietary Limited, 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
  FY23   For the year ended 31 December 2023
  FY24   For the year ended 31 December 2024
  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)
  JIBAR   Johannesburg Interbank Average Rate
  JSE   JSE Limited
  JV   Joint venture
  Karreebosch   Karreebosch Wind Farm (RF) Proprietary Limited
  kt   Kilo tonnes
  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
  PPI   Producer Price Index
  Prime Rate   South African prime bank rate
  RBCT   Richards Bay Coal Terminal Proprietary Limited
  Rbn   Rand billion
  Rm   Rand million
  RoM   Run-of-mine
  SAICA   South African Institute of Chartered Accountants
  SIOC   Sishen Iron Ore Company Proprietary Limited
  SMME(s)   Small, medium and micro-enterprise(s)
  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