Corporate governance report

As the focal point and custodian of corporate governance in the group, the board of directors of Exxaro Resources Limited (the board) is fully committed to the 16 principles of good corporate governance as set out in the King IV Report on Corporate Governance for South Africa, 2016 (King IV^TM), and regard it as fundamentally important to create value through the application of good principles and governance outcomes through its own ethical and effective leadership, which are: