About this report

Exxaro's integrated report 2019 includes a summary of the most material information contained in the environmental, social and governance (ESG) report 2019 and the consolidated Mineral Resources and Mineral Reserves report 2019.

We aim to consistently benchmark our performance against global best practice and hence voluntarily endorsed the Sustainable Development Goals (SDGs).

Scope and boundary

For completeness, the suite of reports for 2019, published on the Exxaro website ( www.exxaro.com), should be read in conjunction.

As with the ESG report, the content of this integrated report is guided by:

• Our materiality determination process
• Legislative and regulatory requirements, including the Companies Act, 2008 (Act 71 of 2008), as amended (Companies Act)
• JSE Limited Listings Requirements
• Broad-based Socio-economic Empowerment Charter for the Mining and Minerals Industry 2018 (Mining Charter III)
• Global best-practice standards, specifically the International Integrated Reporting Council (IIRC) framework for integrated reporting, the United Nations Global Compact (UNGC), the latest Global Reporting Initiative (GRI) guidelines (Standards) and the King Report on Governance for South Africa 2016 (King IV^TM)

Our integrated report includes limited information on operations where we do not have management control but hold a significant equity interest or joint control, namely Cennergi Proprietary Limited (renewable energy) and Sishen Iron Ore Company Proprietary Limited (SIOC, a subsidiary of Kumba Iron Ore Limited).

Integrated thinking and the six capitals

We believe that sustainable value creation is enabled through careful consideration of the relationship between the capitals that we use or affect. We aim to enhance our positive effects and minimise our negative impacts on all six capitals, identified by the IIRC, to ensure the sustained success of our organisation while fostering a more sustainable operating environment for all.

We thus aim to unpack our progress in this regard, as well as demonstrate our prospects going forward in this integrated report.

The links between these capitals, matters of significance to the business, related risks, the SDGs, our strategy and business model as well as our engagements with stakeholders is illustrated on Material matters.

The six capitals we use and affect are:

Natural	Social and relationship	Manufactured	Human	Intellectual	Financial

Exxaro's alignment to the SDGs

Exxaro is committed to contributing positively to the achievement of the United Nations Sustainable Development Goals (SDGs).

To this end, in South Africa, we participate in the National Business Initiative to align the 17 SDGs with the country's National Development Plan. Exxaro is committed, through its strategy, to supporting the country in the implementation of the National Development Plan and the most material SDGs.

We employ leading practices in upholding the most material SDGs for our business to leave a lasting net positive impact.

Exxaro as a mining company and in line with its purpose to power possibilities, will intentionally focus on the following SDGs:

Ensure healthy lives	Provide quality education and lifelong learning	Empower girls and women to achieve gender equality	Generate and secure sustainable, clean energy	Create jobs, sustainable livelihoods and equitable growth
Make our local communities inclusive, safe, resilient and sustainable	Manage natural resource assets sustainably	Combat climate change and mitigate its impacts	Protect our environment and minimise biodiversity loss	Ensure good governance, effective institutions, and stable and peaceful societies

To date, Exxaro has worked to embed integrated thinking in terms of the six capitals into its business operations and strategy. In the year ahead, our focus will be on mapping our refreshed strategy and strategic objectives to the relevant SDGs that present the greatest opportunity for positive impact. We will then focus on embedding these goals within our business.

Board responsibility

The board acknowledges its responsibility for the integrity of Exxaro's suite of reports.

As the process of integrated reporting evolves, we apply our collective mind to the preparation and presentation of information in this report, guided by the International Integrated Reporting Framework.

Continuous efforts are made to incorporate best practice and improve our level of reporting, including an independent assessment of key aspects of sustainability reporting and disclosure by PwC.

The board believes that this integrated report addresses all material matters, offering a balanced view of the group's strategy and business model in relation to Exxaro's ability to create value in the short, medium and long term in terms of the capitals.

J van Rooyen	MDM Mgojo	PA Koppeschaar	GJ Fraser-Moleketi	VZ Mntambo	V Nkonyeni
Independent chairm	Chief executive officer	Finance director	Lead independent non-executive director	Non-executive director	Independent non-executive director

EJ Myburgh	PCCH Snyders	L Mbatha	A Sing	MJ Moffett	LI Mophatlane
Independent non-executive director	Independent non-executive director	Director (development practitioner)	Independent non-executive director	Independent non-executive director	Independent non-executive director

20 April 2020

Certificate by group company secretary

In terms of section 88(2)(e) of the Companies Act, I, SE (Saret) van Loggerenberg, in my capacity as group company secretary confirm that, to the best of my knowledge, for the year ended 31 December 2019, Exxaro Resources Limited (Exxaro) has filed with the Companies and Intellectual Property Commission all such returns and notices as required of a public company in terms of the Companies Act and that all such returns and notices appear to be true, correct and up to date.

SE van Loggerenberg
Group company secretary and legal
Centurion

20 April 2020