Report overview

This report uses the International Integrated Reporting Council's (IIRC's) integrated reporting framework to explain Exxaro's performance and, more specifically, the tax consequences of this performance and how that contributes to value creation over the short, medium and long term.

We discuss how the external environment influences tax choices, key stakeholders involved, material tax risk and opportunities, as well as how tax management is governed at Exxaro.

This report should be read in conjunction with the Exxaro integrated report 2019 at

www.exxaro.com

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