ADMINISTRATION CONTENTS Secretary and registered offi ce Corporate law advisers THE EXXARO GROUP Group in brief MS Viljoen CLS Consulting Services (Pty) Limited Strategic focus areas EXXARO ANNUAL REPORT 2009 REPORT EXXARO ANNUAL Exxaro Resources Limited Business objectives, highlights and Roger Dyason Road United States ADR Depositary group structure Pretoria West The Bank of New York With assets of R23 billion, Exxaro is among the top 2 Key ratios Pretoria 101 Barclay Street 3 Geographical locations 0183 New York NY 10286 40 companies on the JSE Limited (JSE) by market 4 Group at a glance (operations) PO Box 9229 United States of America Annual report capitalisation, and one of the 30 best-performing 6 Group review at a glance (fi nancials) Pretoria 8 Summary of business operations 0001 Sponsor FOR THE YEAR ENDED 31 DECEMBER 2009 constituents of the JSE’s Socially Responsible 10 Chairman’s statement South Africa Deutsche Securities (SA) (Pty) Limited Investment index. Telephone +27 12 307 5000 3 Exchange Square 14 Chief executive offi cer’s review 20 Financial review 87 Maude Street Exxaro is a diverse resources group with a portfolio Company registration number: 2000/011076/06 Sandton 32 Macro-economic and commodity review 2196 spanning coal, mineral sands, base metals and iron 38 Business operations review JSE share code: EXX VISION: THROUGH OUR INNOVATION AND GROWTH, WE WILL BE A ore and operations in South Africa, Australia, Namibia 49 Growth ZAE000084992 ISIN code: Registrars POWERFUL SOURCE OF ENDLESS POSSIBILITIES. 51 Review of mineral resources and reserves Computershare Investor Services (Pty) Limited and China. Exxaro has an unfolding pipeline of growth 66 Executive committee Auditors Ground Floor, 70 Marshall Street MISSION: WE CREATE UNRIVALLED VALUE FOR ALL STAKEHOLDERS projects that is arguably among the best in its 68 Directorate Deloitte & Touche Johannesburg Private Bag X6 2001 OF OUR DIVERSIFIED RESOURCES BUSINESS THROUGH OUR peer group. Governance and Sustainability Gallo Manor PO Box 61051 PROCESSES, THINKING AND PASSION. 72 Corporate governance 2052 Marshalltown The group’s reviewed strategic focus, record of 78 Shareholder information 2107 79 Shareholders’ analysis innovation and focus on sustainable development Commercial bankers 81 Risk management Absa Bank Limited VALUES: > EMPOWERED TO GROW AND CONTRIBUTE – DEVELOPING underpin its promise to contribute to the economic 84 Sustainable development growth of South Africa. 86 Approach to safety and sustainable AND DEPLOYING OUR KNOWLEDGE AND INGENUITY TO ACHIEVE OUR development SHAREHOLDERS’ DIARY VISION. WE FOCUS ON PEOPLE, CREATE FREEDOM TO INNOVATE AND 91 Safety and sustainable development COLLABORATE, RESPECT INDIVIDUALITY, HAVE FUN AND RISE TO performance 113 Economic performance FINANCIAL YEAR-END 31 December CHALLENGES. > TEAMWORK – WE SUCCEED TOGETHER THROUGH 115 Social performance ANNUAL GENERAL MEETING April/May A CLIMATE OF RESPECT AND EQUALITY. > COMMITTED TO 125 Society REPORTS AND ACCOUNTS ABOUT THIS REPORT 126 Legislative compliance/mining charter Announcement of annual results February EXCELLENCE – WE TAKE OWNERSHIP, PROVIDE VISIBLE LEADERSHIP scorecard Annual report March AND ENCOURAGE COLLABORATION, COMMITMENT AND CREATIVITY 131 Independent assurance statement to the directors and management of Exxaro Interim report for the half-year ending 30 June August FOR THE BENEFIT OF ALL. > HONEST RESPONSIBILITY – WE SPEAK Guided by global best-practice standards and ongoing consultation with Resources Limited DISTRIBUTION THE TRUTH AND ACCEPT ACCOUNTABILITY FOR OUR ACTIONS. stakeholders, Exxaro publishes an integrated annual report detailing the 133 GRI indicator index Final dividend declaration February group’s economic, social and environmental performance. The full report is Supplementary fi nancial information Payment March/April 137 Group cash value added statements also available on www.exxaro.com and on CD, where pertinent case studies are Interim dividend declaration August 138 Selected group fi nancial data translated included. Copies of this information are available on request (contact details into US dollars Payment September are on the inside back cover). 139 Defi nitions Financial statements The cover of this document is printed on Trucard Recycled 330gsm. It contains 50% postconsumer de-inked pulp, is FSC certifi ed and carries the NAPM 141 Annual fi nancial statements recycled mark. The body of this document is printed on Cartridge 120gsm. A minimum of 30% fi bre used in making this paper comes from well-managed forests Administration independently certifi ed according to the rules of the Forest Stewardship Council. 259 Notice of annual general meeting 263 Biographies of directors up for re-election Carbon offset GFN<I@E>GFJJ@9@C@KP www.exxaro.com 275 Form of proxy The carbon footprint arising from the paper production, printing and distribution of this annual report will be determined and offset. www.exxaro.com BASTION GRAPHICS ADMINISTRATION CONTENTS Secretary and registered offi ce Corporate law advisers THE EXXARO GROUP Group in brief MS Viljoen CLS Consulting Services (Pty) Limited Strategic focus areas EXXARO ANNUAL REPORT 2009 REPORT EXXARO ANNUAL Exxaro Resources Limited Business objectives, highlights and Roger Dyason Road United States ADR Depositary group structure Pretoria West The Bank of New York With assets of R23 billion, Exxaro is among the top 2 Key ratios Pretoria 101 Barclay Street 3 Geographical locations 0183 New York NY 10286 40 companies on the JSE Limited (JSE) by market 4 Group at a glance (operations) PO Box 9229 United States of America Annual report capitalisation, and one of the 30 best-performing 6 Group review at a glance (fi nancials) Pretoria 8 Summary of business operations 0001 Sponsor FOR THE YEAR ENDED 31 DECEMBER 2009 constituents of the JSE’s Socially Responsible 10 Chairman’s statement South Africa Deutsche Securities (SA) (Pty) Limited Investment index. Telephone +27 12 307 5000 3 Exchange Square 14 Chief executive offi cer’s review 20 Financial review 87 Maude Street Exxaro is a diverse resources group with a portfolio Company registration number: 2000/011076/06 Sandton 32 Macro-economic and commodity review 2196 spanning coal, mineral sands, base metals and iron 38 Business operations review JSE share code: EXX VISION: THROUGH OUR INNOVATION AND GROWTH, WE WILL BE A ore and operations in South Africa, Australia, Namibia 49 Growth ZAE000084992 ISIN code: Registrars POWERFUL SOURCE OF ENDLESS POSSIBILITIES. 51 Review of mineral resources and reserves Computershare Investor Services (Pty) Limited and China. Exxaro has an unfolding pipeline of growth 66 Executive committee Auditors Ground Floor, 70 Marshall Street MISSION: WE CREATE UNRIVALLED VALUE FOR ALL STAKEHOLDERS projects that is arguably among the best in its 68 Directorate Deloitte & Touche Johannesburg Private Bag X6 2001 OF OUR DIVERSIFIED RESOURCES BUSINESS THROUGH OUR peer group. Governance and Sustainability Gallo Manor PO Box 61051 PROCESSES, THINKING AND PASSION. 72 Corporate governance 2052 Marshalltown The group’s reviewed strategic focus, record of 78 Shareholder information 2107 79 Shareholders’ analysis innovation and focus on sustainable development Commercial bankers 81 Risk management Absa Bank Limited VALUES: > EMPOWERED TO GROW AND CONTRIBUTE – DEVELOPING underpin its promise to contribute to the economic 84 Sustainable development growth of South Africa. 86 Approach to safety and sustainable AND DEPLOYING OUR KNOWLEDGE AND INGENUITY TO ACHIEVE OUR development SHAREHOLDERS’ DIARY VISION. WE FOCUS ON PEOPLE, CREATE FREEDOM TO INNOVATE AND 91 Safety and sustainable development COLLABORATE, RESPECT INDIVIDUALITY, HAVE FUN AND RISE TO performance 113 Economic performance FINANCIAL YEAR-END 31 December CHALLENGES. > TEAMWORK – WE SUCCEED TOGETHER THROUGH 115 Social performance ANNUAL GENERAL MEETING April/May A CLIMATE OF RESPECT AND EQUALITY. > COMMITTED TO 125 Society REPORTS AND ACCOUNTS ABOUT THIS REPORT 126 Legislative compliance/mining charter Announcement of annual results February EXCELLENCE – WE TAKE OWNERSHIP, PROVIDE VISIBLE LEADERSHIP scorecard Annual report March AND ENCOURAGE COLLABORATION, COMMITMENT AND CREATIVITY 131 Independent assurance statement to the directors and management of Exxaro Interim report for the half-year ending 30 June August FOR THE BENEFIT OF ALL. > HONEST RESPONSIBILITY – WE SPEAK Guided by global best-practice standards and ongoing consultation with Resources Limited DISTRIBUTION THE TRUTH AND ACCEPT ACCOUNTABILITY FOR OUR ACTIONS. stakeholders, Exxaro publishes an integrated annual report detailing the 133 GRI indicator index Final dividend declaration February group’s economic, social and environmental performance. The full report is Supplementary fi nancial information Payment March/April 137 Group cash value added statements also available on www.exxaro.com and on CD, where pertinent case studies are Interim dividend declaration August 138 Selected group fi nancial data translated included. Copies of this information are available on request (contact details into US dollars Payment September are on the inside back cover). 139 Defi nitions Financial statements The cover of this document is printed on Trucard Recycled 330gsm. It contains 50% postconsumer de-inked pulp, is FSC certifi ed and carries the NAPM 141 Annual fi nancial statements recycled mark. The body of this document is printed on Cartridge 120gsm. A minimum of 30% fi bre used in making this paper comes from well-managed forests