KUMBA IRON ORE LIMITED - Kumba Iron Ore Limited: Senior Leadership Change

Kumba Iron Ore Limited: Senior Leadership Change

Kumba Iron Ore Limited
A member of the Anglo American plc group
(Incorporated in the Republic of South Africa)
(Registration number 2005/015852/06)
Share code: KIO
ISIN: ZAE000085346
("Kumba" or "the Company")

Kumba Iron Ore Limited: Senior Leadership Change

The board of Kumba Iron Ore Limited announces a leadership transition as Chief Financial Officer (CFO), Bothwell Mazarura will be stepping down from his
role as Chief Financial Officer and Executive Director to pursue other interests, after close on eight years of distinguished service since his appointment in
September 2017. He will also step down as a member of the Social, Ethics and Transformation Committee and the Strategy and Investment Committee.
Bothwell will continue to serve as CFO and Executive Director during his notice period of up to six months until 31 December 2025 and will ensure a smooth
transition.

Reflecting on his tenure, Bothwell Mazarura said:
"It has been a privilege to serve as CFO of Kumba. The journey has been filled with immense pride in what we have achieved together. The Kumba family is
truly special, and I will always cherish the relationships and memories built here. We have continuously delivered solid results, and I am proud of our collective
accomplishments and for the support of all Kumba employees, contractors, members of the Kumba executive team as well as the Board. While I will leave
Kumba later this year, my commitment to delivering our clear objectives for the remainder of this year is as firm as ever."

Kumba is pleased to announce that Xolani Mbambo, currently CEO of Grindrod Limited ("Grindrod"), will assume the role of Chief Financial Officer and
Executive Director from 01 January 2026 and will serve on the Social, Ethics and Transformation Committee and the Strategy and Investment Committee.
Xolani is a seasoned executive, holding a Chartered Accountant (CA[SA]) qualification and an Advanced Management Programme (AMP) from Harvard
Business School. He brings over 20 years of experience in mining, logistics, and finance, having held senior leadership roles at Grindrod and previously at Anglo
American, where he gained extensive experience across finance, project execution, business performance analysis, and commodity marketing. He is
passionate about delivering value to stakeholders, enhancing customer experience, and fostering a culture of innovation and excellence.

Xolani commented: "I am honoured to join Kumba at such a pivotal time in its journey. Kumba's commitment to operational excellence, delivering shareholder
value and sustainability resonates deeply, and I look forward to working with the talented team to build on the strong foundation laid by Bothwell and to drive
continued success for all stakeholders."

Kumba Chairman, Terence Goodlace, expressed the Board's appreciation:
"On behalf of the Kumba Board, I extend our sincere gratitude to Bothwell for his outstanding leadership and dedication. Bothwell's integrity, vision, and
unwavering commitment as a member of the Kumba's executive team have been instrumental in positioning Kumba for the future. We wish him every success
in his future endeavours. We also look forward to warmly welcoming Xolani to the Kumba family. His proven track record in mining and logistics as well as his
strategic acumen will be invaluable as we continue to safely and responsibly advance Kumba's strategic ambitions and operational objectives."

Mpumi Zikalala, CEO of Kumba, added: "Bothwell has been an integral part of Kumba's leadership team. His financial expertise and collaborative spirit have
left a lasting mark on our business, and we are deeply grateful for his many contributions over the years. Under his financial stewardship, Kumba has
delivered strong operational and financial results but also advanced our sustainable mining strategy. Bothwell's legacy at Kumba is defined not only by his
financial expertise but also by his big heart and genuine care for people and a relentless pursuit of value creation for all. Later this year, we will bid a proper
farewell to Bothwell."

I would also like to extend my warmest congratulations to Xolani on his appointment as CFO and Executive Director. We look forward to welcoming him to the
leadership team, we are excited and confident about the energy and experience he will bring as we continue to build a successful future together. Xolani's
leadership and experience in mining and logistics will add a lot of value to Kumba and all our stakeholders."

Kumba remains committed to delivering sustainable value and thanks all stakeholders for their continued support during this leadership transition.

Johannesburg
20 June 2025

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
                                                                                                                                                          
Note on Xolani Mbambo

        -   Chartered Accountant (CA[SA]), Advanced Management Programme (Harvard Business School)
        -   Appointed CEO of Grindrod Limited on 1 January 2023
        -   Joined Grindrod in March 2013, serving as Freight Services CFO, Group Financial Director, and CEO of Freight Services before becoming Group
            CEO
        -   Over a decade of experience at Anglo American in various finance and operational roles across Johannesburg, London, Mpumalanga, and
            Gaborone, spanning accounting, project execution, business performance analysis (iron ore, coal, manganese), and coal marketing
        -   Director of various businesses in which Grindrod has a shareholding

End

For further information, please contact:
Investor Relations
Kumba Iron Ore Limited

Company secretary
Fazila Patel
fazila.patel@angloamerican.com
Mobile: +27 83 297 2293

Investors                                                                             Media
Penny Himlok                                                                          Melangini Pillay
penny.himlok@angloamerican.com                                                        melangini.pillay@angloamerican.com
Mobile: +27 82 781 1888                                                               Mobile: +27 76 959 2019


Notes to editors:
Kumba Iron Ore Limited, a member of the Anglo American plc group, is a leading value-adding supplier of high quality iron ore to the global steel industry.
Kumba produces iron ore in South Africa at Sishen and Kolomela mines in the Northern Cape Province. Kumba exports iron ore to customers around the globe
including in China, Japan, South Korea and a number of countries in Europe and the Middle East.
www.angloamericankumba.com

Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and crop nutrients – future-enabling
products that are essential for decarbonising the global economy, improving living standards, and food security. Our portfolio of world-class operations and
outstanding resource endowments offers value-accretive growth potential across all three businesses, positioning us to deliver into structurally attractive
major demand growth trends.

Our integrated approach to sustainability and innovation drives our decision-making across the value chain, from how we discover new resources to how we
mine, process, move and market our products to our customers – safely, efficiently and responsibly. Our Sustainable Mining Plan commits us to a series of
stretching goals over different time horizons to ensure we contribute to a healthy environment, create thriving communities and build trust as a corporate
leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for our shareholders,
for the benefit of the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people's
lives.

Anglo American is currently implementing a number of major structural changes to unlock the inherent value in its portfolio and thereby accelerate delivery of
its strategic priorities of Operational excellence, Portfolio simplification, and Growth. This portfolio transformation is focusing Anglo American on its world-
class resource asset base in copper, premium iron ore and crop nutrients – with the sale of our steelmaking coal and nickel businesses agreed, the demerger of
our PGMs business (Anglo American Platinum) completed, and the separation of our iconic diamond business (De Beers) to follow.
www.angloamerican.com

Date: 20-06-2025 08:00:00
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