Exxaro Resources Limited

Environmental, social and governance report for the year ended 31 December 2025

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Introduction

Introduction

Introduction

This environmental, social and governance (ESG) report presents Exxaro’s progress, performance and priorities in delivering sustainable value. It highlights our key impacts, achievements and future focus areas as we advance our ESG commitments.

Navigating this report About this report Our business
Managing ESG

Managing ESG

Managing ESG

Mining and energy operations have environmental and social impacts that require responsible management to protect long-term value, sustain community trust and maintain a strong social licence to operate.

Managing ESG How we embed ESG ESG governance and risk Our stakeholder engagement How we measure our progress and impact
Our environmental
stewardship

Our environmental
stewardship

Our environmental stewardship

The environmental operating context in South Africa is changing rapidly, reshaped by climate impacts, resource demand and evolving regulations.

Our environmental stewardship Decarbonising our operations Responding to a changing climate Optimising energy efficiency Protecting air quality

Conserving ecosystems and biodiversity Integrating mine closure and rehabilitation Improving water security Managing waste responsibly
Empowering people
and communities

Empowering people
and communities

Empowering people and communities

South Africa faces deep socio-economic pressures, including persistent unemployment, inequality and increasing strain on public services. These realities shape expectations for mining companies to foster safe, inclusive workplaces and contribute meaningfully to community wellbeing and economic resilience.

Empowering people and communities Prioritising safety Promoting health and wellness Engaging our employees Developing future-ready talent

Empowering our communities Enabling enterprise and supplier development Creating post-mining economies Driving supply chain sustainability Embedding human rights in our business
Prioritising good
governance

Prioritising good
governance

Prioritising good governance

Robust governance underpins value creation at Exxaro. Aligned with our theme, accelerating our strategy to become a diversified natural resources champion, we uphold strong governance practices to enable sustainable growth and maintain stakeholder confidence. This section highlights our commitment to responsible business practices that support strategic execution and future readiness.

Prioritising good governance Addressing material matters Adopting good governance principles Board of directors Executive leadership Committee reports Audit committee report

Investment committee report Logistics committee report Nomination committee report Remuneration committee report Risk and business resilience committee report Social, ethics and responsibility committee report

Remuneration report Remuneration at a glance Section 1: Message from the remuneration committee chairperson Section 2: Remuneration policy Section 3: Implementation report
Supplementary
information

Supplementary information

Supplementary information

We have been engaged to provide a reasonable assurance opinion in our report on the following selected KPIs, marked with an “RA” on the relevant pages in the Report.

Assurance report Appendix A: Criteria Glossary Administration
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Prioritising good governance

Remuneration report

In a dynamic business environment, Exxaro remains committed to fostering a performance-driven culture that supports the delivery of our strategy and aligns the interests of employees, executives and shareholders.

The remuneration committee ensures that the company’s remuneration framework promotes fair and responsible reward practices while attracting, motivating and retaining the talent required to deliver sustainable long-term value for our shareholders and broader stakeholders.

Remuneration report

We unpack our approach and performance in this report through the following lenses:

Remuneration at a glance

This section describes our approach to remuneration and some of our remuneration policy principles.

1

Section 1: Message from the remuneration committee chairperson

Dr Phumla Mnganga’s message outlines key focus areas and shareholder engagement for the year under review.

2

Section 2: Remuneration policy

We unpack our remuneration policy, including our approach to fair and responsible remuneration, guaranteed pay, benefits, variable pay and recognition and addressing the wage gap.

3

Section 3: Implementation report

This section reflects the remuneration policy’s implementation and remuneration paid to executive directors and prescribed officers, including STI and LTI payments, vesting outcomes and single-figure remuneration.