EXXARO RESOURCES LIMITED - EXX04/ EXX05 - Availability of the audited group annual financial statements for the year ended 31 December 2019

EXX04/ EXX05 - Availability of the audited group annual financial statements for the year ended 31 December 2019

EXXARO RESOURCES LIMITED
(Incorporated in the Republic of South Africa
(Registration number: 2000/011076/06)
Bond Code: EXX04
ISIN Code: ZAG000160326
Bond Code: EXX05
ISIN Code: ZAG000160334
(“Exxaro” or the “company”)

AVAILABILITY OF THE AUDITED GROUP ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 DECEMBER 2019

In terms of section 7.4 of the Debt Listings Requirements of the JSE Limited, investors are advised that the
Exxaro audited group annual financial statements for the year ended 31 December 2019 are available for
viewing and downloading from the company’s website: https://www.exxaro.com/investors/integrated-reports.

The annual integrated report, audited group and company annual financial statements, supplementary report,
tax report and Mineral Resources and Mineral Reserves statement for the year ended 31 December 2019 will
also be available on the company’s website.

RE-PRESENTATION OF COMPARATIVE INFORMATION

The condensed group statement of comprehensive income (and related notes) for the year ended
31 December 2018 has been re-presented as a result of the investment in Black Mountain being classified as
a discontinued operation as further described in note 6 to the financial information and set out below.

Black Mountain

On 30 November 2019, Exxaro classified the Black Mountain investment as a non-current asset held-for-sale
(refer note 16). It was concluded that the related performance and cash flow information be presented as a
discontinued operation as Black Mountain represents the base metals operating segment which
management view to be a separate major operation.

Financial information relating to the discontinued operations is set out below:

                                                                                       For the year ended
                                                                                           31 December
                                                                                  2019            (Re-presented)
                                                                                  Reviewed        2018
                                                                                  Rm              Audited
                                                                                                  Rm
Financial performance                                                             (1)
Losses on financial instruments revaluations recycled to profit or loss
Net gains on translation differences recycled to profit or loss on partial        832
disposal of investment in foreign associate
Indemnification asset movement (1)                                                65
Operating profit                                                                  896
Gain on partial disposal of associate (2)                                         1 234
Net operating profit                                                              2 130
Dividend income received from non-current assets held-for-sale                    47              69
Share of income of equity-accounted investment (3)                                52              70
Profit before tax                                                                 2 229           139
Income tax expense                                                                (65)
Profit for the year from discontinued operations                                  2 164           139
Other comprehensive (loss)/income, net of tax                                     (830)           2
Items that have subsequently been reclassified to profit or loss:                 (831)
– Recycling of share of other comprehensive income of equity- accounted           (831)
investments
Items that will not be reclassified to profit or loss:                            1               2
– Share of other comprehensive income of equity-accounted investments             1               2
Total comprehensive income for the year                                           1 334           141
Cash flow information
Cash flow attributable to investing activities
Dividend income received from non-current assets held-for-sale                    47              69
Proceeds from partial disposal of associate classified as non-current             2 889
assets held-for-sale
Cash flow attributable to discontinued operations                                 2 936           69

(1) The indemnification asset movement arose on the repurchase of the Tronox Holdings plc ordinary shares
as Tronox Holdings plc has indemnified Exxaro from any tax obligation which may arise on the disposal of
any of the Tronox Holdings plc ordinary shares held by Exxaro since the redomicile.
(2) Comprises proceeds of R2 889 million and carrying value of R1 655 million.
(3) Relates to Black Mountain.

Johannesburg
4 May 2020

Debt Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 04-05-2020 11:18:00
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