OUR BEGINNING

Exxaro is the results of an empowerment transaction that involved the unbundling of Kumba Resources’ iron ore assets and the relisting of Kumba as Exxaro in November 2006. The two companies formed through the transaction are:

•Exxaro – focused on coal, mineral sands and base metals and industrial minerals

•Kumba Iron Ore – focused on iron ore

The primary rationale behind the unbundling was to create a new generation South African company and to broaden the spread of shareholders in both companies to people from previously disadvantaged backgrounds, employees and communities in proximity to the company’s operations.

Kumba Resources itself was unbundled from its parent, Iscor Limited (which became Mittal Steel South Africa in 2005 and now known as ArcelorMittal) in 2001, and listed on the JSE Limited in November of the same year. Iscor, initially a government-owned corporation, has been the major integrated South African steel producer for more than 70 years and its mining division, Iscor Mining, had provided a secure supply of iron ore and other raw materials for its steel mills. At the time of the Iscor unbundling, the mines it had developed for coal, zinc, mineral sands and certain industrial minerals used in steel production, together with its two iron ore mines and mineral sands interests, became part of Kumba Resources.

In just a few years, Kumba Resources built a portfolio of world-class assets in Africa, Asia and Australia to become a prominent force in its selected commodities and a respected global participant for its governance standards and business approach based on sustainable development.

Prior to merging with Kumba, Eyesizwe Coal was South Africa’s fourth-largest coal producer with a production capacity of about 25Mtpa. Eyesizwe Coal assets consist of four operating mines.

This is the legacy Exxaro takes with it in its new form.

COMPANY PROFILE

Exxaro is one of the largest South African-based diversified resources groups. It is listed on the JSE Limited where it is a constituent of the Socially Responsible Investment (SRI) index. The group’s current business interests span South Africa, Republic of the Congo and Australia.

At present, Exxaro produces over 39 million tonnes of coal per annum (Mtpa). Completed expansion at our flagship Grootegeluk mine will increase this significantly.

At 31 December 2014, Exxaro had assets of R47,4 billion and a market capitalisation of R23 billion. Although just eight years old, Exxaro’s pedigree and skills were built over decades as a company rooted in South Africa and respected by its peers for its innovation, ethics and integrity.

Based on a well-executed strategy, solid returns, access to funds and quality resources, Exxaro is a unique listed investment opportunity into its chosen commodities.

VISION, MISSION AND VALUES

Vision

Through our innovation and growth, we will be a powerful source of endless possibilities.

Mission

We create unrivalled value for all stakeholders of our diversified resources business through our processes, thinking and passion.

Values

•Empowered to grow and contribute – developing and deploying our knowledge and ingenuity to achieve our vision. We focus on people, create freedom to innovate and collaborate, respect individuality, have fun and rise to challenges.

•Teamwork – we succeed together through a climate of respect and equality.

•Committed to excellence – we take ownership, provide visible leadership and encourage collaboration, commitment and creativity for the benefit of all.

•Honest responsibility – we speak the truth and accept accountability for our actions.

BUSINESS PHILOSOPHY

Our business philosophy acknowledges that we exist within a particular context. It describes the links between our belief of who we are and why we exist, our vision for the business and society, and how we will achieve our mission through our business strategy.

Our sustainability is founded on creative, mutually constructive relationships and common values with our stakeholders and conducting our business activities in a way that creates success for Exxaro and society. By virtue of our existence and prosperity, we strive to make our society a better place to live in.