Trading statement for the twelve months ended 31 December 2014 Kumba Iron Ore Limited A member of the Anglo American plc group (Incorporated in the Republic of South Africa) (Registration number 2005/015852/06) JSE Share code: KIO ISIN: ZAE000085346 ("Kumba" or "the Company") TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2014 Kumba's results for the twelve months ended 31 December 2014 ("the period") will be released on the Stock Exchange News Service ("SENS") on 10 February 2015. In this regard, shareholders are advised that headline earnings for the period are likely to be between R10,610 million and R11,410 million, with basic earnings expected to be between R10,220 million and R11,020 million. Headline earnings per share ("HEPS") is likely to be between R33.10 and R35.60, a decrease of between 26% and 31%, with basic earnings per share ("EPS") expected to be between R31.90 and R34.40, a decrease of between 28% and 34%. Reported headline earnings and basic earnings for the 12 months ended 31 December 2013 (released on SENS on 11 February 2014) ("the comparative period") were R15,443 million and R15,446 million respectively, while reported HEPS and EPS for the comparative period were R48.08 and R48.09 respectively. The decrease in earnings is largely attributable to a significant decrease in export iron ore prices, partially offset by a weaker exchange rate during the period. The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors. Pretoria 23 January 2015 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 23/01/2015 02:33:00 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.