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EXX - Exxaro Resources Limited - Notification of acceptance by Equatorial Resources Exxaro Resources Limited (Incorporated in the Republic of South Africa) (Registration number 2000/011076/06) JSE share code: EXX ISIN: ZAE000084992 ADR code: EXXAY ("Exxaro") NOTIFICATION OF ACCEPTANCE BY EQUATORIAL RESOURCES With respect to the takeover offer for African Iron Limited (AKI) by Exxaro Australia Iron Investments Pty Ltd (Exxaro Australia), a wholly owned subsidiary of Exxaro Resources Limited (the Offer), Equatorial Resources Ltd (Equatorial) has notified Exxaro Australia of its intention to accept the Offer. Equatorial holds 99,400,000 ordinary shares and 22,075,061 listed options in AKI, equivalent to 20.50% of the fully diluted share capital of AKI. As a result of Equatorial`s intended acceptance, Exxaro Australia will hold in excess of 86.22% of the fully diluted share capital of AKI and consequently, following receipt of Equatorial`s acceptance, Exxaro Australia will increase the consideration of the Offer to $0.57 per AKI share and $0.37 per AKI listed option. The increased consideration will be provided to all AKI shareholders and listed optionholders who accept into the Offer, including those who have already accepted. Shareholders and optionholders that have previously accepted the Offer will receive an additional $0.06 per AKI share or AKI option. The additional cash consideration of $0.06 per AKI share or AKI listed option, as the case may be, will be paid to you as soon as possible. Due to this offer increase, the offer period will be extended so as to end 14 days after Equatorial accepts the Offer. Exxaro Australia urges all remaining AKI shareholders and listed optionholders to accept the Offer without delay. Exxaro welcomes Equatorial`s intention to accept the Offer. Exxaro is confident that the cooperative environment that can be engendered, not only with Equatorial which is developing the neighbouring project, but also with other juniors in the region, will result in the successful development of mining, logistical and social infrastructure in line with the goals of the Republic of Congo. About Exxaro Exxaro Resources Limited is a diversified South African-based mining company, listed on the JSE Limited (JSE: EXX) with a market capitalisation of approximately R 70 billion. Exxaro mines, extracts and processes a range of minerals and metals, including coal, mineral sands and base metals primarily in South Africa, Australia and China. As one of the largest South African coal producers, with capacity now approaching 48 million tonnes per annum and the third-largest global producer of mineral sands products, Exxaro is a significant participant in the coal and mineral sands markets. Exxaro has a 20% interest in the Sishen Iron Ore Company, a subsidiary of JSE listed Kumba Iron Ore Limited, which operates the Sishen and Thabazimbi mines in South Africa. Further information on Exxaro can be found at www.exxaro.com For enquiries: Wim de Klerk Finance Director Tel: +27 12 307 4848 Email: wim.deklerk@exxaro.com Sole financial advisor to Exxaro Investec Bank (Australia) Limited and Investec Bank Limited Legal advisors Gilbert + Tobin Transaction sponsor Investec Bank Limited 27 February 2012 Sponsor to Exxaro Deutsche Securities (SA) (Proprietary) Limited Date: 27/02/2012 09:45:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
