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KUMBA IRON ORE LIMITED - Changes to the board of directors

Release Date: 24/03/2017 14:00
Code(s): KIO     PDF:  
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Changes to the board of directors

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”)

CHANGES TO THE BOARD OF DIRECTORS

In compliance with the JSE Limited Listings Requirements, shareholders are advised
of the following changes to the composition of Kumba’s board of directors (“Board”):

Zarina Bassa has informed the Company of her intention to step down as an
independent non-executive director at the Company’s forthcoming AGM on 11 May
2017, after serving eight years. Zarina has, during her tenure, chaired both the Audit
and Risk Committees of the Board. She has also served as a member of the Human
Resources & Remuneration Committee and the Nominations & Governance
Committee.

The Board will shortly commence the process to identify and appoint a suitable
candidate as chairman of the Audit Committee.

The Company is pleased to announce the appointment of Terence Goodlace as an
independent non-executive director of the Board, with immediate effect. Terence has
extensive mining experience and has previously held the position of CEO of Impala
Platinum Holdings Limited and Metorex Limited.

Further to the announcements above, Anglo American has also made changes to its
representation on the Board. Andile Sangqu, Executive Head of Anglo American South
Africa, and Natascha Viljoen, Group Head of Processing for Anglo American, will both
step down as non-executive directors of the Board with immediate effect.

Seamus French, CEO of Anglo American’s Bulk Commodities business, and Stephen
Pearce, Anglo American plc’s Finance Director designate, will join the Kumba Board
as non-executive directors with immediate effect, representing the Anglo American
Group.

Kumba Chairman Fani Titi, said: “I sincerely thank Zarina for her immense contribution
and dedication to the Board over the last 8 years and I acknowledge her exemplary
leadership in the very demanding role of Chairman of the Audit Committee. On behalf
of Kumba, I wish Zarina the very best going forward. I also want to thank Natascha
Viljoen and Andile Sangqu for their valued contributions to the Board. It has been an
enormous privilege to have their expertise during a period of immense change for
Kumba. I welcome Terence Goodlace, Seamus French and Stephen Pearce to the
Board. We look forward to benefitting from their extensive industry and broader
experience as we continue to build a more resilient and competitive business”

Terence Goodlace, age 57, was the CEO of Impala Platinum Holdings Ltd. from July
1, 2012 to November 30, 2016. Previously, Terence was the CEO of Metorex Ltd. He
has also served as the COO of Gold Fields Limited and as its Executive Vice President
and Head of the International Operations and subsequently the South
African Operations. He has extensive mining experience having worked in the mining
industry since the late 1970's.
He was an independent non-executive director at Impala Platinum Holdings Limited
between August 2010 and June 2012 and is presently an independent non-executive
director at Gold Fields Limited, having been appointed in July 2016. Terence has a
National Higher Diploma in Metalliferous Mining, a Bachelor of Commerce degree from
the University of South Africa and a Masters in Business Administration from the
University of Wales.

Stephen Pearce, age 53, joined Anglo American as Finance Director Designate in
January 2017. He will be appointed to the Board of Anglo American plc as Finance
Director on 24 April 2017, subject to shareholder approval. Stephen has more than 16
years of public company director experience and 30 years’ experience in the mining,
oil and gas, and utilities industries. Before joining Anglo American, Stephen served as
Chief Financial Officer and an executive director of Fortescue Metals Group. Prior to
that, he held the positions of Managing Director and CEO of Southern Cross Electrical
Engineering Limited and was Chief Financial Officer of Alinta Limited.

He has a Bachelor of Business from Royal Melbourne Institute of Technology, a
Graduate Diploma in Company Secretarial Practice and is a Fellow of the Institute of
Chartered Accountants, a Member of the Governance Institute of Australia and the
Australian Institute of Company Directors. Until January 2017, Stephen served as a
Non-Executive Director of Cedar Woods Properties Limited, an Australia-listed
property development company.

Seamus French, age 54, joined Anglo American in 2007 and held the position of CEO
for Anglo American Metallurgical Coal between 2009 and 2013. He was CEO of Coal
until 2015, when he was appointed to his current position as CEO of Anglo American’s
Bulk Commodities business.

Seamus joined WMC Resources in Australia in 1994, in strategic planning and
business development, before being appointed executive general manager of the
Copper-Uranium division. He later joined BHP Billiton as a global vice-president
Business Excellence, following its takeover of WMC in 2005. Seamus has a Bachelor
of Science degree in Chemical Engineering.

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 mine and its Kolomela mine in the Northern
Cape Province, Kumba exports iron ore to customers in a range of geographical
locations around the globe including China, Japan, Korea and a number of countries
in Europe and the Middle East.

For further information, please contact:
Media                                        Investors
Yvonne Mfolo                                 Nerina Bodasing
yvonne.mfolo2@angloamerican.com              Nerina.bodasing@angloamerican.com
Tel: +27 12 683 7067                         Tel: +27 12 622 8324
Mobile: +27 83 469 4566                      Mobile: +27 82 940 7505

Centurion
24 March 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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