Exxaro Resources Limited
Integrated report 2022

Driving transition through leadership

Welcome to our 2022 integrated report, themed driving transition through leadership. The report unpacks the transformation of our business through a just transition to a sustainable future.

The theme supports the impact pillar of our strategy, encapsulates progress against our key performance indicators (KPIs) stated in 2021 and shows leaders are delivering our objective to empower people to create impact.

When I took the helm as chief executive officer (CEO) in 2022, it was clear to me that, to achieve our strategic objectives and mindful of ESG imperatives, I needed to encourage everyone to “get on the bus”, so that together we achieve our goals for a sustainable future.

We are heading in the right direction. Our strategy remains on rack despite headwinds from economic market challenges. The capital allocation model has maintained its fitness to support the strategy, and our remuneration structure was implemented from January, to achieve better alignment among management, employees and shareholder interests, rewarding our people for being responsive to the needs of society and the environment.

I invite our stakeholders to join us on this journey and keep us on track.

Dr Nombasa Tsengwa

Dr Nombasa Tsengwa

Realising value creation through integrated thinking and sustainability

Exxaro Resources Limited (Exxaro, the company or the group)is a South African diversified resources company with an existing coal and renewable energy business and acquisitive growth prospects in minerals and renewable energy solutions.

In line with Exxaro’s purpose of powering better lives in Africa and beyond, our ambition is to provide resources (energy, commodities, capital and people) critical to ensuring a low-carbon world.

We understand that we cannot grow sustainably without creating a positive impact in the environment and communities we serve. We are committed to responsibly maximising the value of our coal assets by reducing stranded assets, and playing an active role in creating a future that realises our vision: resources powering a clean world.

Our success lies in the strength of our culture and values, which strengthen our resilience and ensure we deliver stakeholder value, guided by our Sustainable Growth and Impact strategy.

Integrated thinking

Our belief in sustainable value creation is inspired by the careful consideration of the relationship between the resources we use and affect, and potential trade-offs inherent in strategic decision making. We integrate the six capitals into our business model and strategy, and continuously strive to positively contribute to, and negate any adverse impact on, these capitals.

Our approach to integrated thinking is translated into the value creation message, content and structure of this report.

Our sustainability framework

Exxaro voluntarily endorses the United Nations (UN) 17 Sustainable Development Goals (SDGs). We also participate in the National Business Initiative (NBI) in South Africa to align the 17 SDGs with the country’s National Development Plan and implement leading practices to uphold the most material SDGs so that our business leaves a lasting positive impact. The SDGs that Exxaro impacts are highlighted in colour.

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Driving transition through leadership
Driving value creation through transition
About our integrated report
Chairperson's statement
About Exxaro
Sustainable growth and impact
Our operating context

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

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CEO's report
Our strategy: positioning Exxaro for sustainable growth and impact
Performance against our strategy and future focus
2022 strategic key performance indicators
Key strategic trade-offs

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Our leadership
Summarised governance report
Combined assurance for effective governance

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Finance director's overview
Operational performance
Business resilience
Our people
Social licence to operate: enabling our legitimacy
Our environment: stewardship and compliance
Responding to TCFD reporting requirements

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Our mineral resources and mineral reserves

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