Exxaro Resources Limited
Group and company annual financial statements for the year ended 31 December 2025
Transactions with related parties are on terms that are not more nor less favourable than those arranged with independent third parties.
Shareholders
The principal shareholders of the company at 31 December 2025 are detailed in chapter 19, annexure 1.
Directors
Details relating to directors’ emoluments and shareholdings (including options) in the company are disclosed in note 14.5.
Senior employees
Details relating to option and share transactions are disclosed in note 14.3.4.
Key management personnel
For Exxaro, other than the executive and non-executive directors and executive committee members, no other key management personnel were identified. Refer note 14.5 for details on directors’ and prescribed officers’ remuneration.
Subsidiaries
Details of transactions with and investments in subsidiaries are disclosed in chapter 17.
Structured and special purpose entities
The group has an interest in the following structured entities and special purpose entities which are consolidated unless otherwise indicated:
|
Entity |
Nature of business |
|---|---|
|
Exxaro Chairman’s Fund1,2 |
Local social economic development |
|
Exxaro Employee Empowerment Participation Scheme Trust |
Employee share incentive trust |
|
Exxaro Employee Empowerment Trust |
Employee share incentive trust |
|
Exxaro Environmental Rehabilitation Fund |
Trust fund for mine closure |
|
Exxaro Insurance Company Limited |
Captive insurance company that provides certain non-life insurance cover to subsidiaries within the group |
|
Exxaro Mountain Bike Academy NPC1 |
Local social economic development |
|
Exxaro People Development Initiative NPC1 |
Local social economic development — bridging classes |
|
Kumba Resources Management Share Trust |
Management share incentive trust |
|
Exxaro Employee Share Ownership Trust |
Structured entity to hold shares in Exxaro ESOP SPV for the benefit of qualifying beneficiaries |
|
Exxaro ESOP SPV RF Proprietary Limited |
Structured entity to hold shares in Eyesizwe for the benefit of Exxaro ESOP Trust |
|
Exxaro Aga Setshaba NPC1 |
Structured entity to benefit communities |
|
Eyesizwe (RF) Proprietary Limited |
Structured entity to hold the BEE shares |
|
Matla and Arnot Rehabilitation Trust |
Trust fund for mine closure |
1 Non-profit organisation.
2 Deregistered 24 July 2025.
Associates and joint ventures
Details of associates and JVs are disclosed in chapter 9. Details of trading transactions and balances are summarised below.
|
Group |
|||
|---|---|---|---|
|
2025 Rm |
2024 Rm |
||
|
Items of income/(expense) recognised during the year |
|||
|
Sale goods and services rendered |
|||
|
– Associates |
73 |
2 |
|
|
– Joint ventures |
48 |
49 |
|
|
Purchases of goods and services rendered |
|||
|
– Associates |
(154) |
(149) |
|
|
– Joint ventures |
(1 587) |
(1 751) |
|
|
Outstanding balances at end of the year |
|||
|
Included in trade and other receivables |
|||
|
– Associates |
30 |
23 |
|
|
– Joint ventures |
5 |
16 |
|
|
Included in trade and other payables |
|||
|
– Associates |
(5) |
(9) |
|
|
– Joint ventures |
(142) |
(174) |
|