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EXX: Reviewed Year End Financial Results For The Year Ended 31/12/2021 and Final Dividend and Changes to The Board.
Exxaro Resources Limited
Registration number: 2000/011076/06
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
Bond code: EXX04
ISIN No: ZAG000160326
Bond code: EXX05
ISIN No: ZAG000160334
(“Exxaro” or the “Company”)
REVIEWED YEAR-END FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER
2021 AND FINAL DIVIDEND AND CHANGES TO THE BOARD OF DIRECTORS
Revenue of R32.8 billion, up 13% from R28.9 billion
Net operating profit of R9.7 billion1, up 102% from R4.8 billion
AEPS of 5 128 cents, up 77% from 2 902 cents
HEPS of 4 683 cents, up 58% from 2 955 cents
Final dividend of 1 175 cents per share, down 68 cents per share from
1 243 cents per share
Total ordinary dividends relating to 2021 of 3 252 cents per share, up
72% from 1 886 cents per share
(1)Continuing operations: R7 460 million; Discontinued operations: R2 217 million
Exxaro, a large South African-based diversified resources group, with interests in the coal, energy and
ferrous markets released its year-end results for the year ended 31 December 2021.
This short-form announcement is the responsibility of the directors and is only a summary of the information
in the full announcement and does not contain full or complete details. Any investment decision by investors
or shareholders should be based on consideration of the full announcement.
The full announcement has been released on the Stock Exchange News Service of the JSE Limited
(“SENS”) and can be found on the Company’s website at
https://www.exxaro.com/investor/financialresults/AFS-YE2021/index.php
and on the JSE Limited website at
https://senspdf.jse.co.za/documents/2022/jse/isse/EXX/AFS-YE2021.pdf
Copies of the full announcement may also be requested at the Company’s registered office, at no charge,
during office hours on normal business days, subject to COVID-19 office protocols.
This announcement is itself not reviewed or audited but is extracted from the underlying reviewed
information.
In line with the Company’s dividend policy, Exxaro has declared a final dividend of 1 175 cents per share
which was approved by the board of directors on 1 March 2022 and is payable on 9 May 2022 to
shareholders who will be on the register on 3 May 2022. The final dividend was declared from profits
generated during the year ended 31 December 2021 and has been declared from income reserves. The
final dividend is subject to dividend withholding tax at a rate of 20% for all shareholders who are not exempt
from or do not qualify for a reduced rate of dividend withholding tax (net local dividend amounts to
940.00000 cents per share).
Salient dates for the payment of the interim dividend are:
Last day to trade cum dividend on the JSE Tuesday, 3 May 2022
First trading day ex dividend on the JSE Wednesday, 4 May 2022
Record date Friday, 6 May 2022
Payment date Monday, 9 May 2022
No share certificates may be dematerialised or re-materialised between Wednesday, 4 May 2022 and
Friday, 6 May 2022, both days inclusive.
The number of ordinary shares in issue as at the date of this declaration is 349 305 092. Exxaro’s company
tax reference number is 9218/098/14/4
Changes to the board of directors
In line with the King Code on Corporate Governance for South Africa, as amended or replaced from time
to time, and the JSE Limited Listings Requirements with respect to good corporate governance practices,
Exxaro aims to ensure that there is a clear balance of power and authority at board level and to ensure that
there is adequate succession planning to maintain ongoing knowledge and experience at board level.
In compliance with paragraph 3.59 of the JSE Limited Listings Requirements and paragraph 6.39 of the
Debt Listings Requirements, shareholders were advised of the changes to the board of directors during the
year ended 31 December 2021.
The Company welcomed Dr Pumla Mnganga, Ms Karin Ireton, Mr Billy Mawasha and Mr Ben Magara to
the board of directors as independent non-executive directors, with effect from 7 February 2022.
Shareholders are further advised that the board of directors has approved the early exit of Mr MDM Mgojo
with effect from 31 July 2022. The appointment of Dr N Tsengwa as chief executive officer will be effective
as from 1 August 2022. The Board thanks Mr Mgojo for his invaluable contribution to Exxaro and wishes
him well in his retirement and looks forward to Dr Tsengwa’s management of the Company.
Shareholders are also advised of the executive appointment of Mr Kgabi Masia in the position of Managing
Director: Minerals, formerly held by Dr N Tsengwa, effective 1 March 2022. Mr Masia has exposure to
Manganese, Coal and Aluminum Operations in his career. He has also worked across multiple functions
such as operations, commercial, supply, logistics at a General Manager level and brings deep insight of the
sector. He has led and executed decarbonisation strategies and exits. He has operated at executive level
when he led South32’s SA Coal business and has served more broadly on the Minerals Council. Mr Masia’s
most recent role was President, South Africa Energy Coal for South 32 and he has worked for one company
his entire career (South 32/BHP).
By order of the board
Geoffrey Qhena
Chairman
3 March 2022
Executive directors Registered office
MDM Mgojo (chief executive officer) Exxaro Resources Limited
N Tsengwa (chief executive officer, designate) the conneXXion
PA Koppeschaar (finance director) 263B West Avenue
Die Hoewes, Centurion
Non-executive directors
L Mbatha www. exxaro.com
VZ Mntambo
IN Malevu Lead equity sponsor and debt sponsor
MLB Msimang Absa Bank Limited (acting through its Corporate and
Investment Banking Division)
Independent non-executive directors
MG Qhena (chairman) Joint equity sponsor
GJ Fraser-Moleketi (lead independent director) Tamela Holdings Proprietary Limited
LI Mophatlane
EJ Myburgh Group company secretary
V Nkonyeni AT Ndoni
CJ Nxumalo
PCCH Snyders Transfer secretaries
P Mnganga Computershare Investor Services Proprietary Limited
K Ireton Rosebank Towers, 13 Biermann Avenue, Rosebank
B Mawasha PO Box 61051, Marshalltown, 2107
B Magara
Date: 03-03-2022 07:05:00
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