Exxaro - Trading Statement for the six-month period ended 30 June 2021 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) TRADING STATEMENT FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2021 Shareholders are advised that Exxaro and its directors have a reasonable degree of certainty relating to the expected financial results of Exxaro for the six-month period ended 30 June 2021. Headline earnings per share (HEPS) for the six-month period ended 30 June 2021 is expected to increase between 99% and 111% compared to the six-month period ended 30 June 2020. This was mainly due to the increase in our equity-accounted income from Sishen Iron Ore Company Proprietary Limited. In addition, HEPS are based on a lower weighted average number of shares (WANOS) of 250 million following our share repurchase program. WANOS for the six-month period ended 30 June 2020 was 251 million. Attributable earnings per share (AEPS) for the six-month period ended 30 June 2021 is expected to increase between 84% and 96% compared to the six-month period ended 30 June 2020. In addition to the increase in equity-accounted income in the current period, the financial results in both periods were influenced by various once-off items, such as the gain on the disposal of our Tronox investments in the current period, as well as a gain on the deemed disposal of the previously held 50% equity interest in the Cennergi joint venture in the comparative period. AEPS are based on WANOS of 250 million for the six-month period ended 30 June 2021. EBITDA(1) for the six-month period ended 30 June 2021 is expected to increase between 5% and 17% compared to the six-month period ended 30 June 2020, mainly due to the inclusion of Cennergi results for the full six-month period. Whilst coal production and sales volumes were impacted by the COVID-19 pandemic and Transnet Freight Rail (TFR) challenges, a healthy increase in the average benchmark API4 export price contributed positively to the coal financial performance. There were no non-core adjustments(2) for the six-month period ended 30 June 2021. The expected ranges are summarised below: - Unit 30 June 2020 30 June 2021 30 June 2021 Reported Expected Expected range earnings earnings HEPS cents 1 321 2 632 – 2 792 99% - 111% increase AEPS cents 1 727 3 184 – 3 388 84% - 96% increase EBITDA(1) R million 3 884 4 080 – 4 548 5% - 17% increase Core HEPS(3) cents 1 339 2 626 – 2 790 96% - 108% increase Core EBITDA(3) R million 3 929 4 054 – 4 526 3% - 15% increase Shareholders are advised that Exxaro will release its reviewed financial results for the six-month period ended 30 June 2021 on 12 August 2021. Further details are available on our website, www.exxaro.com. The forecast financial information on which this trading statement is based has not been reviewed, audited nor reported on by Exxaro’s external auditors. This statement is issued in compliance with the JSE Listings Requirements. (1)EBITDA is calculated by adjusting net operating profit before tax with depreciation, amortisation, impairment charges/reversals and net losses or gains on disposal of assets and investments (including translation differences recycled to profit or loss). (2)Non-core items are defined as any major non-recurring transactions identified by management at each reporting period. (3)Core HEPS and core EBITDA for the six-month period ended 30 June 2020 are reported after including the following non- core adjustments: - 30 June 2020 Insurance Losses on share of cash flow claim recovery hedge recycled on deemed disposal of Cennergi JV HEPS Core HEPS Cents 1 321 (6) 24 1 339 EBITDA Core EBITDA R million 3 884 (14) 59 3 929 These are not defined terms under International Financial Reporting Standards (IFRS) and may not be comparable with similarly titled measures reported by other companies. The afore-mentioned adjustments are the responsibility of the directors of Exxaro. The adjustments have been prepared for illustrative purposes only and due to their nature, may not fairly present Exxaro´s financial position, changes in equity, results of operations or cash flows. Editor’s note: Exxaro is one of the largest South African based diversified resources companies, with interests in coal, iron ore and energy. www.exxaro.com Enquiries: Mzila Mthenjane, Executive head: Stakeholder Affairs Tel: + 27 12 307 7393 Mobile: +27 83 417 6375 Email: Mzila.mthenjane@exxaro.com Pretoria 10 August 2021 Lead Equity Sponsor and Debt Sponsor: Absa Bank Limited (acting through its corporate and investment banking division). Joint Equity Sponsor Tamela Holdings Proprietary Limited Date: 10-08-2021 01:25:00 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. 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