Summarised governance report

The Exxaro board applies good corporate governance to ensure an ethical culture, safeguard human rights, and support sustainable growth while transitioning to a low-carbon world.

Exxaro's board is the focal point and custodian of good corporate governance for the group. The board assumes ultimate accountability and responsibility for the group's performance and affairs. In so doing, it effectively represents and promotes the group's legitimate interests. As a responsible corporate citizen, Exxaro considers its material stakeholders' legitimate interests and expectations to ensure it contributes positively to society and the environment.

Exxaro's corporate governance is underpinned by principles that guide the board in meeting its responsibilities to the company, the group and its stakeholders. These principles enable the company to achieve the King IV governance outcomes and fulfil its purpose to power better lives in Africa and beyond through its own ethical and effective leadership.

King IV promotes good governance, transparency in leadership and decision making, and a focus on sustainability. Sustainable development is an ethical and economic imperative.
It entails economic and social growth to meet present needs without compromising the ability to fulfil the needs of future generations. Sustainable development is a fitting response to organisations being an integral part of society, their status as corporate citizens and meeting stakeholders' needs, interests and expectations. Exxaro expresses its commitment to sustainable development through its Sustainable Growth and Impact strategy.

In line with King IV's recommendation to apply and explain how Exxaro practices good governance, we include our detailed King IV application register in the databook, which sets out each principle with an explanation of steps taken, policies and processes. Our corporate governance reporting is similarly structured under the four desired King IV governance outcomes of:

Material themes in focus

The following material themes received focused attention in 2023:

Adapting to a changing context

Responsible environmental stewardship

Building sustainable communities

Helping our people thrive

Executing our strategy

Driving business resilience

Principled governance