EXX: Update on Exxaro's Disposal Of Its 24.4% Stake In Black Mountain Mining. 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” or the “Company”) UPDATE ON EXXARO’S DISPOSAL OF ITS 24.4% STAKE IN BLACK MOUNTAIN MINING Diversified South African-based resources group Exxaro Resources Limited (“Exxaro”), based on a strategic review of its portfolio of assets, previously concluded that zinc mining was not strategically aligned to the group’s long-term objectives. Exxaro therefore initiated a sales process for the disposal of its 24.4% interest in Black Mountain Mining Proprietary Limited (“BMM”). Recent media reports suggested that the sales process has now been finalised (“transaction”). Exxaro wishes to clarify that negotiations are at an advanced stage, but that no transaction has been concluded to date and Exxaro will apprise the market as soon as a transaction has been concluded. Editor’s Note: Exxaro is one of the largest South African-based diversified resources groups, with interests in coal, mineral sands, iron ore and energy markets. www.exxaro.com 9 October 2020 SE Van Loggerenberg Group Company Secretary & Legal Pretoria Sponsor to Exxaro Resources Limited Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 09-10-2020 03:47:00 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.