How we report

Governance

The Exxaro annual estimation and reporting process is managed through Exxaro geosciences and LoM policies and associated Coal Resource and Coal Reserve reporting and estimation procedures. These policies and procedures are aligned with the guidelines of section 12:13 of the JSE Listings Requirements and the SAMREC Code.

The policies and procedures dictate technical requirements for estimation and reporting, and include guidelines on methodologies, processes and deliverables. Procedures are also implemented for the geophysical, rock engineering, geotechnical, structural geology, hydrogeological, exploration and mine planning disciplines that prescribe methodologies and minimum standards for compliance.

Table 1: Exxaro's reporting structure

Regulatory	Governance	Deliverables	Assurance
JSE Listings Requirements (section 12)	Geosciences policy	Annual Resource and Reserve estimation schedule	Annual review and update of procedures
Considered 2016 amendments to minimum contents of annual report, point 12.13	Updated in 2022 to align with new minerals strategy	Followed 2022 estimation schedule for operations under Exxaro's control	Considered, reviewed and updated procedures as required
SAMREC Code (Table 1)	Exxaro's Mineral Resources and Mineral Reserves reporting procedure	Mineral Reserves fact packs	Competent Persons' register update and review
Considered 2016 updated Table 1	Considered 2022 update	2022 Mineral Reserves fact packs updates for Matla, Belfast, Grootegeluk, Leeuwpan and Mafube	Updated for 2022
SANS 10320	Exxaro's Mineral Resource estimation procedure	Annual Mineral Resource and Mineral Reserve Competent Persons' report	Exxaro Consolidated Mineral Resources and Mineral Reserves report review and lead Competent Person sign-off
Alignment with proposal and methodologies of SANS 10320:2020 edition 2	Considered 2022 update	Competent Persons' reports updated for Grootegeluk and Leeuwpan	Peer reviewed by Tamela Consulting and signed off by lead Competent Persons
JORC Code	Exxaro's Mineral Reserve estimation (LoM) policy	Mineral Resource and Mineral Reserve report	Applicable Competent Person and technical team sign-off
Considered JORC Code, 2012 edition	Considered 2022 update	Reports updated for Mafube, Belfast and Matla	Included in individual Competent Persons' and annual Resource and Reserve reports, available on request
			Internal review and external audit process
			Conducted internal reviews and findings are addressed (Assurance section)

How we report

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