EXX - Exercise of rights vested and sold in terms of the Share Appreciation Scheme by directors EXXARO RESOURCES LIMITED Incorporated in the Republic of South Africa (Registration Number: 2000/011076/06) JSE share code: EXX ISIN code: ZAE000084992 ADR code: EXXAY (Exxaro) EXERCISE OF RIGHTS VESTED AND SOLD IN TERMS OF THE SHARE APPRECIATION SCHEME (SAR SCHEME) BY DIRECTORS OF EXXARO In terms of paragraphs 3.63 to 3.65 of the JSE Limited Listings Requirements, notice is hereby given that directors of Exxaro exercised rights vested in terms of the SAR Scheme and sold Exxaro ordinary shares, after having received clearance to do so in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Class of shares: Ordinary Nature of transaction: Exercise of rights vested in terms of the SAR Scheme and on market sale Nature of interest: Direct Beneficial Date of transaction: 30 March 2016 SAR vesting period: 7 years Name: SA Nkosi Director: Exxaro Resources Limited SAR vesting date: 1 April 2012 Total number of shares vested: 5 418 Strike price: R67.07 VWAP: R72.93 Number of shares sold: 2 444 Sale price per share: R71.00 Value of sale transaction: R173 524.00 Remainder of shares vested, released and transferred to personal portfolio: 2 974 Name: MDM Mgojo Director: Exxaro Resources Limited SAR vesting date: 1 April 2012 Strike price: R67.07 VWAP: R72.93 Total number of shares vested: 2 212 Number of shares sold: 998 Sale price per share: R71.10 Value of sale transaction: R70 957.80 Remainder of shares vested, released and transferred to personal portfolio: 1 214 CH WESSELS GROUP COMPANY SECRETARY 31 March 2016 Sponsor Absa Bank Limited, acting through its Corporate and Investment Bank division Date: 31/03/2016 05:11:00 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.