EXXARO RESOURCES LIMITED - EXX - Trading Statement for the six month period ended 30 June 2024

EXX - Trading Statement for the six month period ended 30 June 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: EXX
(Exxaro or the Company)

TRADING STATEMENT FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2024

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 2024.
Headline earnings per share (HEPS) for the six-month period ended 30 June 2024 is
expected to decrease between 31% and 45% compared to the six-month period ended
30 June 2023. This is attributable to lower sales prices and sales volumes amid ongoing
logistical challenges and reduced offtake from Eskom, partially offset by a slightly weaker
exchange rate, at our coal business. We expect a higher contribution from our energy
business due to slightly improved wind conditions compared to the six-month period ended
30 June 2023. Income from our equity-accounted investments at Sishen Iron Ore Company
Proprietary Limited and Mafube Coal Proprietary Limited were also negatively impacted by
lower prices.

The decrease in attributable earnings per share (AEPS) for the six-month period ended 30 June 2024
is also expected to decrease between 31% and 45% compared to the six-month period ended 30
June 2023 for the same reasons as mentioned above.

EBITDA1 for the six-month period ended 30 June 2024 is expected to decrease between 27% and
41% compared to the six-month period ended 30 June 2023.
The expected ranges are summarised below:
              Unit      30 June 2023       30 June 2024    30 June 2024         30 June 2024
                        Reported           Expected        Expected range       Expected range
                        earnings           earnings
 HEPS         cents     2 443              1 686 – 1 344   31% - 45%            757 – 1 099 cents
                                                           decrease             decrease
 AEPS         cents     2 440              1 684 – 1 342   31% - 45%            756 – 1 098 cents
                                                           decrease             decrease
 EBITDA1      R         7 661              5 593 – 4 520   27% - 41%            R2 068 – R3 141
              million                                      decrease             million decrease

Shareholders are advised that Exxaro will release its reviewed condensed financial results for the
six-month period ended 30 June 2024 on or about 15 August 2024. 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 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 (IFRS) 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 12 307 5000
Email: investorrelations@exxaro.com

Pretoria
8 August 2024

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: 08-08-2024 02:22:00
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