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POWERING a CLEAN WORLD CONNECT with EXXARO We Encourage and Welcome Feedback on Our Reporting Suite from Our Stakeholders

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POWERING a CLEAN WORLD CONNECT with EXXARO We Encourage and Welcome Feedback on Our Reporting Suite from Our Stakeholders Exxaro Resources Limited Environmental, social and governance report 2020 POWERING A CLEAN WORLD CONNECT WITH EXXARO We encourage and welcome feedback on our reporting suite from our stakeholders. Please send any comments or suggestions to: Malusi Buthelezi Manager: Integrated reporting and ESG Tel: +27 12 307 3174 Mobile: +27 83 460 3723 Email: [email protected] www.exxaro.com Follow Exxaro on Facebook, Twitter, Instagram, LinkedIn and YouTube Navigating this report We use the following icons throughout our report: Read more online Read more in COVID-19’s impact on www.exxaro.com this report our organisation Material themes Disclaimer: Photographs of people without masks were either taken pre-COVID-19 or full health and safety Macro- Business Our Social Climate protocols were followed as appropriate. With thanks to environment resilience people licence to change Stefanie De Beer, Line of Sight Photography for Cennergi’s operate windfarm photographs used in our integrated and ESG reports. CONTENTS ABOUT EXXARO 2 About this report 4 Evolution of a 21st century company 6 Our material matters 20 Strategic performance dashboard 25 Measuring our performance 27 Our commitment in action 28 Stakeholder management ENVIRONMENT 40 Outlook 42 Our procedures 44 Air quality 46 Climate change 48 Energy management 50 Water management 52 Hazardous waste management 54 Biodiversity 58 Environmental liabilities and rehabilitation SOCIAL 66 People 78 Communities 92 Human rights GOVERNANCE 95 Ethical culture 99 Adequate and effective control 103 Trust, good reputation and legitimacy 104 Board of Directors 113 Our executive team 117 Remuneration and nomination committee report 118 Remuneration committee report 119 Nomination committee report 121 Sustainability, risk and compliance committee report 126 Social and ethics committee report 129 Audit committee report 133 Investment committee report 134 King IV application register 137 Remuneration report 166 GRI index 172 Assurance report 177 Glossary IBC Administration ExxaroExxaro ResourcesResources Environmental,Environmentalal, ssocialoocial anandd gogovernancevernance repreportort 20202020 1 About Exxaro ABOUT THIS REPORT Exxaro’s 2020 environmental, social and governance (ESG) report communicates our creation and preservation of value for stakeholders over time. We made a concerted effort to be more transparent, clear and concise in discussions about our material matters and strategic response. Visit our website for historical information. OUR ALIGNMENT WITH THE SUSTAINABLE DEVELOPMENT GOALS Exxaro voluntarily endorses the United Nations Sustainable Development Goals (UN SDGs), benchmarking our performance against global best practice, to leave a lasting positive impact. Further, we participate in South Africa’s National Business Initiative (NBI) to align the SDGs with the country’s National Development Plan (NDP) 2030. Our intent to power possibilities encourages us to support the SDGs listed below for the following reasons: • Our purpose statement, to power better lives in Africa and beyond, acknowledges the challenges that prevail on our continent and the role of Exxaro to overcome these challenges • Our strategic objectives, within the context of a just transition, aim to support the purpose through our vision of “powering a clean world” Ensure Provide quality Empower girls and Generate and healthy lives education and women to achieve secure sustainable lifelong learning gender equality clean energy Create jobs, Make our local Manage natural Combat climate sustainable communities resource assets change and livelihoods and inclusive, safe, sustainably mitigate its equitable growth resilient and impacts sustainable Protect our Ensure good Create constructive environment and governance, partnerships minimise effective between ourselves, biodiversity loss institutions, and governments, the stable and peaceful private sector and societies civil society Our Sustainable Growth and Impact strategy on page 54 of our integrated report details our support of the NDP and the SDGs. 2 Exxaro Resources Environmental, social and governance report 2020 About Environment Social Governance Exxaro INTEGRATED THINKING AND OUR SIX CAPITALS Exxaro believes in holistic and sustainable value creation, enabled through carefully considering the relationship between the capitals we affect. We integrate the six capitals into our business model and strategy, and continuously strive to positively contribute to and negate any adverse impacts on these capitals. We do this to ensure our sustained success and foster a more sustainable operating environment for South Africa, Africa and beyond. We also aim to create and preserve value for our stakeholders and society at large, and to prevent the erosion thereof. In this report, we share our progress in this regard and demonstrate our future prospects. The six capitals we use and affect are: Social and Natural Manufactured Human Intellectual Financial relationship OUR ESG FOCUS Exxaro is a leader in business management with sound ESG principles that deliver sustainable economic returns and tangible benefits for all stakeholders. The group is ranked #1 for ESG performance-selected resources company metrics, in terms of the FTSE Russell index. Everything we do today is geared towards ensuring a safer and more productive tomorrow. Our sustainability is founded on creative, mutually constructive relationships and values we share with our stakeholders. We conduct our business activities in a way that creates success for Exxaro and for society. From how we mine to what we mine, we are stewarding our natural assets and social capital to uplift our communities. With a proven track record confirming that we deliver solid returns, Exxaro continues to present an outstanding investment opportunity. Our exemplary ESG performance over the past year is evident in our above-target safety performance, our management of COVID-19 risks and our climate change response strategy demonstrating our commitment to the Task Force on Climate-related Financial Disclosures (TCFD) guidelines. Selected key sustainability metrics have been independently assured by PwC (see page 171 for the assurance report). This process confirms our commitment to continuously improve our reporting to our stakeholders. REPORTING SUITE For completeness, this report should be read in conjunction with Exxaro’s suite of reports (shown below) for the period from 1 January 2020 to 31 December 2020 (the 2020 financial year) available on our website under the investors tab. E X X A R O R E Exxaro Resources Limited Exxaro Resources Limited Exxaro Resources Limited E Exxaro Resources Limited Exxaro Resources Limited Exxaro Resources Limited S X O X U A Summarised group annual financial statements R Integrated report 2020 Climate Change Response Tax report 2020 R Consolidated Mineral Resources Group and company annual financial C O E for the year ended 31 December 2020 and strategy report 202 and Mineral Reserves report 2020 statements for the year ended R S E L S 31 December 2020 notice of the annual general meeting I M Report on alignment with the O U I T recommendations of the Task Force on R E C Climate-related Financial Disclosures D E G S R L O I M U I P E T X E A X D N A D C R O C O N O R S M O E P S L A O I D N U A Y R T A C E E N D S N M U L I I A N M L E I R T F E A I N D L A I R N N E T C S E I O A G U L R R A S C T T E A E S T D E A R M N E E D P N O M T R S I T N F E 2 O R 0 R A 2 T L 0 H R E E S Y E E R A V R E E S N R D E E P D O 3 R 1 T D 2 E 0 C 2 E 0 M B E R 2 0 2 0 POWERING A POWERING A POWERING A POWERING A POWERING A CLEAN WORLD CLEAN WORLD CLEAN WORLD CLEAN WORLD CLEAN WORLD POWERING A CLEAN WORLD Climate change Group and company Summarised AFS Integrated Consolidated Minerals response strategy Tax report annual financial and notice of annual report and Reserves report report statements general meeting Our reports cover financial and non-financial information about the group’s activities in South Africa, Europe, the United States of America (USA) and Australia. We include limited information about operations where we do not have management control but hold a significant interest. On 31 December 2020, these investments mainly include an equity interest in Sishen Iron Ore Company Proprietary Limited (SIOC), an investment in Mafube Coal Proprietary Limited (Mafube) (a 50% joint venture with Anglo South Africa Capital Proprietary Limited), an interest in Black Mountain Proprietary Limited (Black Mountain) as well as an equity interest in Tronox SA (both South African-based operations). Exxaro also has other business interest in Switzerland (marketing of coal), United Kingdom (equity interest in Insect Technology Group Holdings UK Limited), Israel (LightApp Technologies Limited), Australia (Moranbah joint operation with Anglo Coal (Grosvenor) Proprietary Limited) as well as the United States of America (an equity interest in Tronox Holdings plc). Reporting frameworks The content of this report is guided by: • Our materiality determination process ( page 6) • Companies Act, No 71 of 2008, as amended (Companies Act) • International Financial Reporting Standards (IFRS) • JSE Limited (JSE) Listings Requirements • Department of Trade, Industry and Competition’s (dtic) broad-based black economic empowerment (B-BBEE) codes of good practice • Broad-based Socio-economic Empowerment Charter for the Mining and Minerals Industry 2018 (Mining Charter III) • International Integrated Reporting Council’s (IIRC) Integrated Reporting <IR> Framework (<IR> Framework) • United Nations Global Compact (UNGC) • Global Reporting Initiative (GRI) standards (elements of the ESG report are cross-referenced for a broader perspective) • King IV Report on Corporate Governance for South Africa, 2016 (King IVTM)* * Copyright and trademarks are owned by the Institute of Directors in South Africa NPC and all of its rights are reserved.
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