To the shareholders of Exxaro Resources Limited

We have reviewed the condensed group interim financial statements of Exxaro Resources Limited, contained in the accompanying Reviewed condensed group interim financial statements for the six-month period ended 30 June 2023, which comprise the condensed group statement of financial position as at 30 June 2023, the condensed group statement of comprehensive income, condensed group statement of changes in equity and condensed group statement of cash flows for the six-month period then ended, and the notes to the condensed group interim financial statements.

Directors' Responsibility for the condensed group interim financial statements

The directors are responsible for the preparation and presentation of the condensed group interim financial statements in accordance with IFRS Standards as issued by the International Accounting Standards Board (IFRS Standards), IAS 34 Interim Financial Reporting, Financial Pronouncements as issued by Financial Reporting Standards Council, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee, the requirements of the Companies Act of South Africa and the JSE Listings Requirements, and for such internal control as the directors determine is necessary to enable the preparation of condensed group interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express a conclusion on these condensed group interim financial statements. 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 (ISRE 2410). ISRE 2410 requires us to conclude whether anything has come to our attention that causes us to believe that the condensed group interim financial statements, taken as a whole, are not prepared in all material respects in accordance with the applicable financial reporting framework. This Standard also requires us to comply with relevant ethical requirements.

A review of the condensed group interim financial statements in accordance with ISRE 2410 is a limited assurance engagement. We perform procedures, primarily consisting of making inquiries of management and others within the entity, as appropriate, and applying analytical procedures, and evaluates the evidence obtained.

The procedures performed in a review are substantially less than and differ in nature from those performed in an audit conducted in accordance with International Standards on Auditing. Accordingly, we do not express an audit opinion on these condensed group interim financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed group interim financial statements of Exxaro Resources Limited for the six-month period ended 30 June 2023 are not prepared, in all material respects, in accordance with IFRS Standards as issued by the International Accounting Standards Board (IFRS Standards), IAS 34 Interim Financial Reporting, Financial Pronouncements as issued by Financial Reporting Standards Council, the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee, the requirements of the Companies Act of South Africa and the JSE Listings Requirements.

KPMG Inc.

Registered Auditor

Per SM Loonat
Chartered Accountant (SA)
Registered Auditor Director
17 August 2023

KPMG Crescent
85 Empire Road
Parktown
2193