Integrated Report 2021

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ANNUAL FINANCIAL STATEMENTS 2021

ESG Report 2021

ESG Report 2021

CONSOLIDATED MRR RESERVES REPORT 2021

CONSOLIDATED MRR RESERVES REPORT 2021

TAX REPORT 2021

TAX REPORT 2021

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Exxaro Resources Limited

Integrated report 2021

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UNDERSTANDING OUR BUSINESS

UNDERSTANDING OUR BUSINESS

UNDERSTANDING OUR BUSINESS

Introduction About our integrated report Chairperson’s statement Positioning Exxaro for sustainable growth and impact About Exxaro Our operating context

TRANSITIONING TO SUSTAINABLE GROWTH AND IMPACT

In this strategy-focused chapter, we outline how our business leadership has transitioned as well as our strategy. As we commence the implementation of the strategy, we outline the drivers for our strategic direction, how we will measure our success into the future as well as reflecting on our past strategic performance.

We're building on an existing successful platform leveraging our skills and differentiation with a long-term vision to develop a sustainable, growth-orientated, value-driven company, a leading international renewable solutions provider by the end of the decade.
DRIVERS OF VALUE CREATION

DRIVERS OF VALUE CREATION

DRIVERS OF VALUE CREATION

Our value creation Our business model Creating value through stakeholder engagement Our material matters Our business risks and opportunities

TRANSITIONING TO CREATE SUSTAINED VALUE

This chapter outlines the drivers of our value creation. It considers the value we create, preserve and erode in our business practices, and how we understand and respond to each of these. It unpacks the methods we use to interrogate the risks and opportunities our business model faces and what is material to our stakeholders and our long-term success.

We have a clear duty to consider how the assets we operate can continue to create value for a broad range of stakeholders.
POSITIONING THE BUSINESS FOR GROWTH

POSITIONING THE BUSINESS FOR GROWTH

POSITIONING THE BUSINESS FOR GROWTH

Outgoing and incoming CEOs’ reports Our strategy: Positioning Exxaro for enduring success Sustainable Growth and Impact strategy — performance and future focus 2021 strategic performance KPIs/performance dashboard Understanding our key strategic trade-off considerations

TRANSITIONING TO SUSTAINABLE GROWTH AND IMPACT

In this strategy-focused chapter, we outline how our business leadership has transitioned as well as our strategy. As we commence the implementation of the strategy, we outline the drivers for our strategic direction, how we will measure our success into the future as well as reflecting on our past strategic performance.

We're building on an existing successful platform leveraging our skills and differentiation with a long-term vision to develop a sustainable, growth-orientated, value-driven company, a leading international renewable solutions provider by the end of the decade.
GOVERNANCE FOR VALUE CREATION

GOVERNANCE FOR VALUE CREATION

GOVERNANCE FOR VALUE CREATION

Our leadership Summarised governance report Combined assurance for effective governance

TRANSITIONING OUR LEADERSHIP SKILLS AND FOCUS TO DELIVER WORLD CLASS GOVERNANCE

Our governance chapter outlines the composition of our experienced, growth-oriented leadership team and established governance structures which provide proactive oversight of our strategy and ESG performance while setting the tone for ethical leadership in the just transition and response to climate change.

We recognise that creating value for our stakeholders depends on effective and efficient governance processes and practices informed by the pillars of good corporate citizenship — transparency, accountability and integrity
OUR PERFORMANCE

OUR PERFORMANCE

OUR PERFORMANCE

Finance director’s overview Operational performance Business resilience Our people Social licence to operate: enabling our legitimacy Our environment: stewardship and compliance Our mineral resources and mineral reserves Glossary Administration

CONTINUOUSLY ADVANCING OUR PERFORMANCE GOALS

This chapter reflects our key activities and outcomes across the six capitals of value creation we impact. These performance areas uphold our focus on preserving and building our financial resilience, our unerring commitment to safety, ESG commitments as well as support the delivery of our strategic objectives as we pursue our purpose.

Our Sustainable Growth and Impact strategy motivates us to responsibly maximise the value of our coal assets in a way that respects the needs of our business and host communities while addressing the potential impacts of climate change on already scarce resources.
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Our leadership

Board of directors

The board is responsible for deciding and supervising the activities (strategic and operational) of Exxaro and its performance while balancing the company's interests as a responsible corporate citizen with the legitimate needs and expectations of stakeholders. We are proud to present the following board members:

CHAIRPERSON

Board
Nomination committee
Remuneration committee
SERC
Audit committee
Investment committee
RBR committee

MEMBER

Audit committee
Investment committee
Remuneration and nomination committee
SERC
RBR committee

Gender diversity year-on-year (%)*

Gender diversity year-on-year (%)*

Racial diversity year-on-year (%)*

Racial diversity year-on-year (%)*

Independence (%)

Independence (%)

Director tenure (%)

Director tenure (%)

Age diversity

Age diversity

geoffrey

Geoffrey Qhena (56)
Board chairperson and independent
non-executive director
Appointed 19 April 2021

Geraldine

Geraldine Fraser-Moleketi (61)
Lead independent non-executive director

Mxolisi

Mxolisi Mgojo (61)
CEO

riaan

Riaan Koppeschaar (51)
FD

nombasa

Nombasa Tsengwa (57)
CEO designate
Appointed 16 March 2021

isaac-m

Isaac Malevu (47)
Non-executive director
Appointed 22 June 2021

isaac

Isaac Mophatlane (48)
Independent non-executive director

Jeffrey

Jeffrey van Rooyen (71)
Former board chairperson and independent
non-executive director
Retired 27 May 2021

likhapha

Likhapha Mbatha (67)
Non-executive director

mandlesilo

Mandlesilo Msimang (45)
Non-executive director
Appointed 15 March 2021

peet

Peet Snyders (61)
Independent non-executive director

zwelibanzi

Zwelibanzi Mntambo (64)
Non-executive director

Ras

Ras Myburgh (63)
Independent non-executive director

Karin

Karin Ireton (66)
Independent non-executive director
Appointed 7 February 2022

Mark

Mark Moffett (62)
Former independent non-executive director
Resigned 11 May 2021

vuyisa

Vuyisa Nkonyeni (52)
Independent non-executive director

Bennetor

Bennetor Magara (54)
Independent non-executive director
Appointed 7 February 2022

geoffrey

Phumla Mnganga (53)
Independent non-executive director
Appointed 7 February 2022

Chanda

Chanda Nxumalo (38)
Independent non-executive director
Appointed 1 February 2021

Mawasha

Billy Mawasha (43)
Independent non-executive director
Appointed 7 February 2022

Our executive team

Mxolisi

Mxolisi Mgojo (61)
CEO

Riaan

Riaan Koppeschaar (51)
Financial director

Nombasa

Nombasa Tsengwa (57)
CEO designate

Vanisha

Vanisha Balgobind (48)
Executive head: Human resources

Alex

Alex De Angelis (41)
Executive head: strategy and business transformation

Mongezi

Mongezi Veti (58)
Executive head: Sustainability

Johan

Johan Meyer (53)
Executive head: Projects and technology

Mzila

Mzila Mthenjane (51)
Executive head: Stakeholder affairs

Roland

Roland Tatnall (47)
Managing director energy and Cennergi

Andiswa

Andiswa Ndoni (54)
Group company secretary

Executive racial proportion (%)

Independence (%)

Executive gender proportion (%)

Executive gender proportion (%)

Executive age diversity (%)

Executive age diversity %

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