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Integrated Annual Report for the Year Ended 31 December 2010

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Integrated Annual Report for the Year Ended 31 December 2010 INTEGRATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2010 GFN<I@E>GFJJ@9@C@KP PROFILE CONTENTS One of the largest black empowerment mining Group in brief companies on the JSE Limited, Exxaro Resources is a Material issues 2 Values constituent of the JSE’s Top 40 index and one of the 2 Highlights best-performing constituents of the JSE’s Socially 3 Business objectives 4 Key ratios Responsible Investment index. At year end, Exxaro had 5 Shareholder structure assets of R28,6 billion. 5 Group at a glance 8 Locations 9 Financial summary Exxaro is a diverse resources group with a portfolio 10 Summary of business operations of coal, mineral sands and base metals assets as well Year under review as a significant indirect interest in iron ore. The group 14 Approach to sustainable development 16 Risk management has operations in South Africa, Australia, Namibia and 21 Information management China, and a pipeline of growth projects that is arguably 22 Strategic focus areas 25 Stakeholder engagement among the best in its peer group. 30 Report scope and boundary 32 Macro-economic and commodity review The group’s strategic focus, record of innovation and 38 Chairman’s statement 44 Chief executive officer’s review PLEASE commitment to sustainable development underpin 48 Financial and operational review TURN OVER its promise to contribute to the economic growth of 60 Growth South Africa. Performance review 64 Review of mineral resources and reserves 78 Safety 83 Health and hygiene ABOUT THIS REPORT 91 Environment 120 Social performance 120 Human resources Guided by global best-practice standards, including the Global Reporting 129 Procurement Initiative (GRI) guidelines, King III and new legislation in South Africa, and 131 Socio-economic development ongoing consultation with stakeholders, Exxaro produces an integrated annual Governance review report detailing the group’s economic, social and environmental performance. 140 Executive committee 142 Directorate Any forward-looking information or statements in this report must not be 144 Regulatory compliance and construed as an official forecast nor relied on. The financial information on corporate governance which any forward-looking information is based has also not been reviewed nor 148 Corporate governance reported on by Exxaro’s auditors. 156 Mining charter scorecard 160 Remuneration report 168 Shareholder information and analysis This report is only available in English. 170 Assurance report 175 GRI indicator index Financial statements 183 Annual financial statements Administration 304 Notice of annual general meeting 308 Biographies of directors up for re-election 309 Form of proxy www.exxaro.com IBC Administration and shareholders’ diary MATERIAL ISSUES These material issues were identified by consulting with stakeholders and using GRI guidelines (page 173). They are grouped and indexed according to Exxaro’s risk map (page 17) where applicable, and cross-referenced to detailed explanations elsewhere in this report where necessary. Issue > Water Availability, security of supply, efficient and responsible use of scarce water resources > Hazardous waste management Avoidance, minimisation, management and disposal of hazardous as well as general waste generated from Exxaro operations > Air quality management Quantifying and determining the impact of emissions from Exxaro operations; managing non-compliance and ensuring continuous improvement. Focus includes dust from mining activities and emissions from smelters > Climate change Projected temperature increases could reduce water availability significantly in southern Africa, reduce agricultural yields across the continent, and place millions of people at risk of coastal flooding each year. From a South African perspective, the eastern part could experience higher rainfall while the western part could face water scarcity > Cleaner production Reduce environmental footprint from waste production and water PERFORMANCE ENVIRONMENTAL ENVIRONMENTAL use > Energy and greenhouse gases Improve energy efficiency and increase use of renewable energy > Biodiversity management Conserving biodiversity-rich sections, eradicating and controlling alien invasive species > Closure and rehabilitation Continual review of rehabilitation assessments and implementation plans Consider third-party applications for mines in closure > Significant environmental Retaining our licence to operate through regulatory and incidents legislative compliance > Socio-economic development Approval and implementation of local economic development (projects, donations) projects and donations as per social and labour plans > Social and labour plans Granting and execution of submitted plans > Community engagement Consultation with all authorities and interested and affected parties SOCIAL > Development of artisanal and Identification of small-scale mining projects small scale mining PERFORMANCE > Employment opportunities Preference for recruiting from areas surrounding current operations and labour-sending areas Employment equity progressively addressed in employment practices > Support for development of small Facilitating socio-economic development and empowerment businesses and supply chain management (procurement, local procurement and empowerment) Response Risk map Page Integrated water and waste management programme implemented. Comprehensive plans being 3, 9 95 — 98 developed for each business unit in addition to studies on water reclamation and reuse Hazardous waste management targets will be set in 2011 after approval of a policy document 3 99 Updated targets will be set in 2011 to ensure compliance, as a minimum, with applicable national 3 105 standards The risks and related opportunities have been integrated into a climate change response strategy 7, 9 100 Budget allocation for numerous related projects requested 3, 7 105 Developed energy management and tracking system; studies under way on renewable energy 3, 7 100 — 105 projects Biodiversity action plans developed for five operating units, with balance to be completed in 2011. 3 107 — 112 Expenditure of R30 million in 2010 expected to increase in subsequent years as plans are implemented. Sponsoring research on biodiversity at selected universities, including specific studies at Exxaro operations and areas surrounding these operations Performance assessments against approved environmental management programmes completed 3 112 at eight operations and submitted to relevant authorities. Good progress with social and rehabilitation plans at closed mines, Durnacol and Hlobane Continuous discipline in complying to regulatory and legal requirements 3 115 — 116 Socio-economic funds paid to business units to implement projects and donations totalled 2,5% 3132 of net profit after tax of managed operations in 2010. Total contribution to socio-economic development projects, corporate commitment and donations was R38,6 million With the focus on sustainability, financial support for the following university chairs was approved in December 2010: > Exxaro chair in global change and sustainability at Wits: R12,5 million (2011–2015) > Exxaro chair in business and climate change at Unisa: R7,5 million (renewed support for 2011–2015) > Exxaro chair on the interface between biodiversity and business at Pretoria: R3,4 million (2011–2013) Mining right conversions and new-order approvals for most of our operations have been granted 3 132 In terms of the social and labour plans and other socio-economic development-related activities, 3132 engagement with all relevant stakeholders takes place at each business unit At Grootegeluk mine, a feasibility study has been conducted for the Re a Dira small-scale mining 3132 project. This will be considered for approval in 2011 90% of Exxaro’s learnership intake as well as some 80% of unskilled and semi-skilled employees 3, 10 132 are from areas surrounding current operations, and 60% of these are from designated groups. The housing project at Medupi created a number of employment opportunities for people from the Lephalale area 123 Exxaro allocated over R13 million to developing enterprises, the bulk of its socio-economic 3129 development funding R3,8 billion of group procurement spend went to HDSA suppliers; 50% of the total discretionary procurement spend MATERIAL ISSUES CONTINUED Issue > Safe workplace (fatalities, > Inadequate awareness of health and hygiene issues lost-time injuries, health and > Employers to meet legislated targets on noise and dust by 2013 safety systems) > Healthy people (occupational > High prevalence of HIV in South Africa and mining industry diseases, HIV/Aids testing and > High incidence of TB in South Africa and in the industry treatment, healthcare, medical > Increase in cases of multidrug resistant strains due to patient surveillance) non-compliance with treatment protocols > Training and development Initiatives are required to address literacy and numeracy levels as well as to ensure continuous focus on the training and development of artisans, skills and leadership development, and the removal of development barriers > Career development To develop and sustain core competencies and maximise human capital to meet our strategic objectives and improve operational performance Individual development plans required for all employees > Employment equity Achieving regulatory and legislative targets > Employee relations and wellness Equalisation of conditions of employment in coal businesses Adverse implications of industrial action Freedom of association Collective bargaining EMPLOYEES Wellness
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