I am pleased to present the logistics committee report for the year ended 31 December 2024. The committee was established in early 2023 to address rail logistic challenges and support Exxaro's continued sustainable growth.
Zwelibanzi Mntambo
Logistics committee chairperson
Committee members are appointed by the board on recommendation of the nomination committee to ensure a blended balance of the necessary skills and experience for the committee to successfully carry out its assigned duties and obligations. The board is satisfied that the committee members have the necessary experience. In 2024, the committee comprised four independent non-executive directors and one non-executive director.
From 1 April 2025, Ben Magara will no longer be a member of the committee. However, as CEO, he will have a standing invitation to committee meetings.
Refer to board of directors for members' qualifications and experience.
Gender and racial diversity
The committee held three scheduled meetings in 2024.
It was agreed that the frequency of the meetings should be driven by the need to discuss or report on updates that are significant or noteworthy, but no less than three times per year.
| Members | Designation | Attendance at scheduled meetings |
| Zwelibanzi Mntambo | Non-executive director and logistics committee chairperson | 3/3 |
| Ben Magara | Independent non-executive director | 2/3 |
| Dr Phumla Mnganga | Independent non-executive director | 2/3 |
| Mvuleni Geoffrey Qhena | Independent non-executive director | 3/3 |
| Peet Snyders | Independent non-executive director | 3/3 |
Early in 2023, the board established an ad hoc board committee to address the threat of rail unavailability to Exxaro's strategy. The logistics committee was subsequently confirmed as a permanent committee of the board.
The role of the logistics committee is to monitor and report on developing long-term solutions for logistic access to international markets, and identify medium-term solutions and alternatives.
The committee operates independently and makes recommendations to the board, monitors on behalf of the board and reports to the board on mainly:
The committee's terms of reference are reviewed annually. The review took place in the first quarter of 2025 and the revised terms of reference were subsequently approved by the board. The review ensured the terms of reference remain aligned to relevant legislation, regulations and King IV.
While there is no regulatory requirement to conduct an annual external independent performance assessment, King IV recommends regular performance evaluations for all board committees. Independent assessments are conducted every third year in line with Exxaro's governance practices.
| Key highlights | Material themes |
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  |
Key focus areas 2024/2025 |
| Oversee the development and review of long-term logistics solutions to access international markets |
| Monitor the identification and review of medium-term logistics solutions to mitigate Transnet Freight Rail risk and increase exports |
The committee, in carrying out its duties, has due regard of its terms of reference and the principles and recommended practices of King IV. The board is satisfied that the committee has considered and discharged its responsibilities.
On behalf of the logistics committee
Zwelibanzi Mntambo
Logistics committee chairperson
15 April 2025
IR