Exxaro Resources Limited
Environmental, social and governance report for the year ended 31 December 2025
Dear shareholders,
I am pleased to present the audit committee report for the year ended 31 December 2025, as recommended by King IV, the JSE Listings Requirements and the Companies Act. This report reflects the committee’s independent role and its accountability to the board and shareholders.
Nondumiso Ketwa
Audit committee chairperson
Dear shareholders,
I am pleased to present the investment committee report for the year ended 31 December 2025. This report provides an overview of how the committee works to responsibly advance our strategic objective of transitioning at speed and scale, in support of Exxaro’s purpose and vision.
Billy Mawasha
Investment committee chairperson
Dear shareholders,
I am pleased to present the logistics committee report for the year ended 31 December 2025. Established in early 2023, the committee continues to address rail logistics challenges and support Exxaro’s sustainable growth.
Isaac Malevu
Logistics committee chairperson
Dear shareholders,
During the year, the committee carried out its responsibility of reviewing the board’s composition and independence. Importantly, the committee oversaw a smooth management transition with the appointment of a new CEO.
Mvuleni Geoffrey Qhena
Nomination committee chairperson
Dear shareholders,
It gives me great pleasure to present the remuneration committee report for the year ended 31 December 2025. The committee remains committed to responsible remuneration practices that recognise Exxaro’s people as central to the company’s value creation, while balancing the interests of all stakeholders.
Dr Phumla Mnganga
Remuneration committee chairperson
Dear shareholders,
I am pleased to present the RBR committee report for the year ended 31 December 2025. During the year, the committee focused on enhancing Exxaro’s ability to achieve our strategic objectives, maintain our reputation as a good corporate citizen and strengthen the resilience to adapt appropriately in a changing environment.
Peet Snyders
RBR committee chairperson
Dear shareholders,
I am pleased to present the SERC report for the year ended 31 December 2025. The committee executed its statutory and board mandates by overseeing Exxaro’s impact and ethical performance, focusing on sustainable value creation and entrenching responsible corporate citizenship in the group.
Geraldine Fraser-Moleketi
SERC chairperson
As a mining and energy business, we are exposed to physical and transition risks that affect our operating costs, production stability and long-term competitiveness. At the same time, the transition to a low‑carbon economy presents opportunities to improve efficiency, invest in renewable energy and contribute to South Africa’s energy transition.
Building resilience to climate change supports our commitment to secure longterm business continuity, protect our environment and communities and align with pressing global climate goals.
The environmental operating context in South Africa is changing rapidly, reshaped by climate impacts, resource demand and evolving regulations.
For Exxaro, this context reinforces the need for proactive environmental management to ensure operational continuity, protect natural systems and support the country’s transition to a low-carbon, climate-resilient economy.
This year, we earned multiple accolades for meeting our ESG commitments and enhancing the transparency and accuracy of our reporting.
Transition at
speed and scale
Make our minerals
and energy businesses thrive
Empower people
to create impact
Be carbon neutral
by 2050
Become a catalyst for economic growth and
environmental stewardship
Powering better lives in Africa and beyond means we aim to provide resources (people, minerals, energy and capital) critical to ensuring a responsible energy transition towards a low-carbon future.
Resources powering a clean world means we strive to have a positive impact on the environment and communities we serve while responsibly maximising the value of our coal assets.
Our success lies in the strength of our culture and values, which strengthen our resilience and ensure we deliver stakeholder value.
Our values are: