EXXARO RESOURCES LIMITED - EXX - Trading Statement for the year ended 31 December 2024

EXX - Trading Statement for the year ended 31 December 2024

EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
Bond Isser Code: EXXI
(Exxaro)

TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

Shareholders are advised that Exxaro and its directors have a reasonable degree of certainty regarding the
expected financial results for the year ended 31 December 2024.

While revenue is expected to improve compared to the previous year, this has been offset by cost pressures.
These include inflation, higher selling and distribution costs due to the use of alternate distribution channels,
and increased operational and maintenance cost, primarily driven by higher volumes of overburden.

We anticipate a stable contribution from our energy business, supported by consistent wind conditions
compared to the year ended 31 December 2023. However, the financial performance of our equity-accounted
investments is expected to decline compared to the year ended 31 December 2023, particularly in Sishen
Iron Ore Company Proprietary Limited, due to lower iron ore prices and sales volumes, and in Mafube, due
to lower export prices.

Headline earnings per share (HEPS) for the year ended 31 December 2024 is expected to decrease between
30% and 44% compared to the year ended 31 December 2023.

Attributable earnings per share (AEPS) for the year ended 31 December 2024 is expected to decrease
between 26% and 40% compared to the year ended 31 December 2023.

EBITDA(1) for the year ended 31 December 2024 is expected to decrease between 16% and 30% compared
to the year ended 31 December 2023.

The expected ranges are summarised below:

               Unit         31 December           31 December             31 December                31 December 2024
                            2023                  2024                    2024
                            Reported              Expected                Expected range             Expected range
                            earnings per          earnings per
                            share                 share
 HEPS          cents        4 681                 3 276 – 2 621           30% - 44% decrease         1 405 – 2 060 cents
                                                                                                     decrease
 AEPS          cents        4 666                 3 452 – 2 799           26% - 40% decrease         1 214 – 1 867 cents
                                                                                                     decrease
 EBITDA(1)     R million    13 399                11 255 – 9 379          16% - 30% decrease         R2 144 – R4 020
                                                                                                     million decrease

Shareholders are advised that Exxaro will release its reviewed condensed financial results for the year
ended 31 December 2024 on or about 13 March 2025.

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 trading 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
or impairment reversals and net losses or gains on disposal of assets and investments (including translation differences
recycled to profit or loss).
EBITDA is not a defined term under International Financial Reporting Standards) and may not be comparable with
similarly titled measures reported by other companies.

Editor's note:
Exxaro is one of the largest South African based diversified resources companies, with main interests in
the coal, iron ore and renewable energy commodities. www.exxaro.com

Enquiries:
Ms Sonwabise Mzinyathi, acting chief investor relations & liaison officer
Tel: + 27 78 685 2430
Email: investorrelations@exxaro.com

Pretoria
07 March 2025

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: 07-03-2025 07:05:00
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