About our integrated report

Exxaro's integrated report for the year ended 31 December 2021 is our value creation story to our stakeholders, particularly our shareholders and other providers of financial capital.

SCOPE AND BOUNDARY

This report contains material information about our strategic decisions and operational performance for the period 1 January 2021 to 31 December 2021 (the 2021 financial year). It covers the financial and non-financial information of our wholly owned and joint operations in South Africa, Europe and Australia. The reporting boundary now incorporates some material information about Cennergi Proprietary Limited (Cennergi) following our acquisition of the 100% interest of this business in 2020. Following the disposal of Tronox in March 2021, information on this investment is no longer included unless stated.

We include limited information on operations where we do not have management control but hold a significant equity interest, namely Sishen Iron Ore Company Proprietary Limited (SIOC), a subsidiary of Kumba Iron Ore Limited, or joint control, namely Mafube Coal Proprietary Limited (joint venture) and Moranbah South coal project.

The 2021 integrated report includes a summary of the most material information in the ESG report and CMRR report. Further detail on our financial performance can be found in our annual financial statements, and historical performance can be found in our previous reports.

Our reporting suite can be accessed on our website under the investors tab.

OUR REPORTING BOUNDARY

(risks, opportunities and outcomes)

Sustainable Growth and Impact strategy

Business model

Operational performance

Material matters

Business risks and opportunities for growth

Governance

FINANCIAL REPORTING EQUITY

(control and significant influence)

STAKEHOLDERS

Government and regulators

Employees and labour

Communities

Investors

Customers

Suppliers

Other stakeholders

We report on our progress during the 2021 financial year in terms of how we create and preserve value, and prevent the erosion thereof, in the short, medium and long term. This report contains the most material information about our value creation transparently and understandably.

MATERIALITY

We determine the information to include in this report through a materiality determination process. This process identifies the matters that may affect our ability to create and preserve value over time, guiding what we should report on. We group these material matters into themes that link to the resources we use and affect.

Material themes that guide our integrated reporting

	Adapting to the changing context
	Helping our people thrive
	Building sustainable communities
	Executing our strategy
	Driving business excellence

FRAMEWORKS AND GUIDELINES

The content of this report is guided by:

• Our materiality determination process (our material matters.)
• Companies Act, 2008 (Act 71 of 2008), as amended (Companies Act)
• International Financial Reporting Standards (IFRS)
• JSE Limited (JSE) Listings Requirements
• Department of Trade, Industry and Competition (dtic) broad-based black economic empowerment (B-BBEE) codes of good practice
• Broad-based Socio-economic Empowerment Charter for the Mining and Minerals Industry 2018 (Mining Charter III)
• International Integrated Reporting Council's Integrated Reporting Framework 2021 ( Framework)
• United Nations Global Compact (UNGC)
• Global Reporting Initiative standards (elements of the ESG report are cross-referenced for a broader perspective)
• King IV Report on Corporate Governance for South Africa, 2016 (King IV™)¹ 
• The South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves, 2016 edition (SAMREC Code)
• Sustainability Accounting Standards Board (SASB)

For a detailed discussion on this process and the material matters we identified, refer to our material matters.

BOARD RESPONSIBILITY

Exxaro's board of directors (board) acknowledges its responsibility for ensuring the integrity of Exxaro's reporting suite, including this integrated report. Our board believes this report addresses all Exxaro's material matters and presents a balanced view of the group's strategy, business model and performance in relation to Exxaro's ability to create and preserve value over the short, medium and long term, as defined by the six capitals. As such, the board believes that this integrated report was prepared in accordance with the International Framework. The integrated report, which remains the ultimate responsibility of the board, is prepared under the supervision of senior management, and subject to rigorous internal and external assurance reviews.

4 April 2022