Summarised governance report

Trust, good reputation and legitimacy

STAKEHOLDER INCLUSIVITY

The board adopted a stakeholder-inclusive approach that, supported by its KAM approach to stakeholder engagement, responds to principle 16 of King IV regarding stakeholder inclusivity and responsiveness. It aims to balance the needs, interests and expectations of material stakeholders in the organisation's best interest over time to protect and build trust in the organisation and its reputation and legitimacy in the eyes of our stakeholders.

The board approved a stakeholder management policy in 2020. As recommended by King IV, Exxaro's disclosure regarding stakeholder relationship management reflects our management approach, key focus areas and stakeholder management activities.

See stakeholder management of our ESG report and creating value through stakeholder engagement of our integrated report.

Stakeholder days

The purpose of the stakeholder day virtual events was two-fold:

To communicate Exxaro's performance and confirm some of the reports shared with the SERC
For the SERC and the board to engage with a diverse set of stakeholders by listening to community feedback and receiving an account from beneficiaries on Exxaro's social performance and impact

The stakeholder engagements were scheduled over three days:

Day 1: ESD stakeholders
Day 2: Socio-economic development stakeholders in Limpopo
Day 3: Socio-economic development stakeholders in Mpumalanga

Participants included:

National, district and local government
Community leaders (including tribal authorities, community structures, NGOs and strategic business partners)
Union representatives
ESD programme implementation partners
SLP, ESD and mega-project beneficiaries

Other external communications

The following external communication (among others) took place in 2021:

Publication of the annual reporting suite (integrated report, ESG report and climate change position statement) available on the company's website
AGM (presentation of annual financial statements, the SERC report and various other resolutions for voting by shareholders)
SENS announcements available on our website
Interim and annual financial results presentations by executive management
Results roadshows following the annual and interim results presentations for interaction with investors
SLP future forums that play an important role in engaging with labour representative groups to promote ongoing discussions about the future of mines, to identify possible challenges and solutions for productivity and employment, and to improve business sustainability
Capital Markets Day outlining Exxaro's strategy in response to climate change, risks and opportunities, including details on the company's Sustainable Growth and Impact strategy

REPUTATION

Exxaro ranked fifth in the annual Sunday Times Top 100 Companies Awards in 2021. This achievement represents admirable progress over the past 24 months (from 37th place in 2019 to 13th in 2020). The awards celebrate contributions by the private sector to securing investments, creating jobs and keeping our economy robust. The awards also acknowledge listed companies that have earned the highest returns for shareholders over the past five years.

In addition, Exxaro received Top Employers Institute recognition for its industry-leading people development practices. This reflects our dedication to a better working world through excellent human resources policies and people practices. This is the second time Exxaro has received this honour since 2014.

Our continued support of the 10 principles of the UNGC and progress report of 4 August 2021 also highlight our commitment to human rights, labour, the environment and anti-corruption.

For more information on awards achieved by the company, refer to the ESG report.

Summarised governance report

STAKEHOLDER INCLUSIVITY

Stakeholder days

Other external communications

REPUTATION

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