Kumba Iron Ore Limited
Registration number: 2005/015852/06
JSE share code: KIO
ISIN: ZAE000085346
Income tax number: 9586/481/15/3
("Kumba" or "the Company" or "the group")

HIGHLIGHTS FROM THE PROVISIONAL AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2022 AND CASH DIVIDEND DECLARATION


KEY FEATURES

Safety and sustainability focus
- Over six years of fatality-free production to end of 2022
- Zero new cases of occupational diseases
- Over seven years without any level 3-5 environmental incidents
- R63.3 billion of shared value created

Resilient financial performance
- Average realised FOB export price of US$113/wmt, 13% above benchmark
- Cost savings of R1.1 billion, R5.2 billion saved since 2018
- Resilient adjusted EBITDA^ margin of 50%, down from 63%
- Closing net cash^ of R9.3 billion

Balanced capital allocation
- Attributable free cash flow^ of R10.4 billion, 66% lower
- Final cash dividend of R16.30 per share, total cash dividends of R45.00 per share
- ROCE of 76%, down from 147%

* Adjusted EBITDA represents net operating profit before deducting interest, tax, depreciation,
  amortisation and impairment charges or reversals.
^ This constitutes pro forma financial information in terms of the Listings Requirements of the
  JSE Limited and should be read in conjunction with basis of preparation report in the full annual
  results announcement.


MPUMI ZIKALALA, CHIEF EXECUTIVE OF KUMBA, SAID:

"Kumba delivered a resilient financial performance in a year characterised by a volatile macro environment,
lower iron ore prices, and logistics, cost, and operational challenges. Despite market volatility, demand
for our high-grade iron ore helped us realise an average price of US$113 per wet metric tonnes (wmt), 13% above
benchmark prices, while achieving an adjusted earnings before interest, tax, depreciation and amortisation*
(EBITDA) of R37.3 billion and headline earnings of R56.19 per share.

"There were no level 3-5 environmental incidents or fatalities in 2022, and we are committed to retaining a
relentless focus on sustainability and safety.

"As ever, we are committed to creating enduring stakeholder value and paid over R8.9 billion in taxes to the fiscus
while employing 79% of our staff from the Northern Cape.

"We are pleased to declare a final 2022 dividend of R5.2 billion bringing Kumba's total shareholder dividends to
R14.5 billion, while our empowerment partners will also receive total dividends of R4.7 billion for the year."
REVENUE for the year ended 31 December

Rand million                                                         2022        2021       % change
Revenue                                                            74,032     102,092            (27)


EARNINGS PER SHARE for the year ended 31 December

Rand per share                                                       2022         2021      % change
Earnings
Basic                                                               46.64      103.67            (55)
Diluted                                                             46.54      103.37            (55)
Headline earnings
Basic                                                               56.19      103.65            (46)
Diluted                                                             56.06      103.35            (46)
Dividend
Interim                                                             28.70        72.70           (61)
Final                                                               16.30        30.50           (47)


SALIENT FEATURES AND OPERATING STATISTICS for the year ended 31 December

                                                                     2022         2021      % change
Market information
Closing share price (Rand)                                            492         460             7
Market capitalisation (Rand million)                              158,466     148,160             7
Net asset value attributable to owners
of Kumba (Rand per share)                                          127.44      138.53            (8)
Operating statistics ('000 tonnes)
Production                                                         37,699      40,862             (8)
Sishen                                                             27,017      28,014             (4)
Kolomela                                                           10,682      12,848            (17)
Sales                                                              36,621      40,261             (9)
Export sales                                                       36,621      40,154             (9)
Domestic sales                                                          -         107           (100)
Sishen mine FOR unit cost (Rand per tonne)
Unit cost                                                          595.50      555.24             7
Cash cost                                                          479.27      432.01            11
Kolomela mine FOR unit cost (Rand per tonne)
Unit cost                                                          643.18      444.15            45
Cash cost                                                          489.60      324.05            51


NOTICE OF FINAL CASH DIVIDEND

At its Board meeting on 20 February 2023, the directors approved a gross final cash dividend of 1,630 cents
per share on the ordinary shares from profits accrued during the year ended 31 December 2022. This is comprised
of a gross base dividend of 1,500 cents per share and a gross top-up dividend of 130 cents per share. The
dividend has been declared from income reserves.

The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from
or do not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders, subject to
withholding tax at a rate of 20% amounts to 1,304 cents per share, comprised of a net base dividend of 1,200 cents
per share and net top-up dividend of 104 cents per share.

The issued share capital at the declaration date is 322,085,974 ordinary shares.

The salient dates are as follows:
Publication of declaration data                       Tuesday, 21 February 2023
Last day for trading to qualify
and participate in the final dividend                  Tuesday, 14 March 2023
Trading ex-dividend commences                          Wednesday, 15 March 2023
Record date                                               Friday, 17 March 2023
Dividend payment date                                     Monday, 20 March 2023

Share certificates may not be dematerialised or rematerialised between Wednesday, 15 March 2023 and
Friday, 17 March 2023, both days inclusive. Any change of address or dividend instructions must be provided by the
last day for trading.


EXTRACTS FROM THE PROVISIONAL AUDITED ANNUAL RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2022

This unaudited short form announcement is the responsibility of the directors of the Company. The information
disclosed is only a summary of the information in the full audited announcement and does not contain full or
complete details.

The full annual results announcement should be considered for any investment decisions. The full annual results
announcement for Kumba has been released on SENS and is available for viewing at
https://senspdf.jse.co.za/documents/2023/JSE/ISSE/KIO/KumbaFY22.pdf and is available on the Company's website
www.angloamericankumba.com/investors/financial-results-centre.aspx.

The full results announcement is also available for inspection at the Company's registered office during normal
business hours and is available at no charge. Alternatively, copies of the full announcement may be requested from
the Company's investor relations department (https://www.angloamericankumba.com/investors/shareholdercommunication).

The consolidated and Company annual financial statements were audited by PricewaterhouseCoopers Inc. who issued an
unmodified audit opinion on these financial statements. Their audit opinion, together with the accompanying financial
statements, can be viewed on the Company's website www.angloamericankumba.com/investors/financial-results-centre.aspx
which also provides more details on the key audit matters on pages 15 to 17 of the annual financial statements, being the
impairment assessment on the Kolomela asset and the valuation of inventories.

Any reference to future financial performance included in this announcement has not been audited or reported on by the
Company's external auditors.


Kumba Iron Ore Limited is a member of the Anglo American plc group

Directors
Non-executive: TP Goodlace (British/South African) (Chairman), MS Bomela, SG French (Irish), A Jeawon, MA Jenkins,
NB Langa-Royds, TM Mkhwanazi, SS Ntsaluba, BP Sonjica, MJ Tsele, DG Wanblad

Executive: ND Zikalala (Chief Executive), BA Mazarura (Zimbabwean) (Chief Financial Officer)

Registered office: 144 Oxford Road, Rosebank, Melrose, 2196, South Africa
Transfer Secretaries: Computershare Investor Services Proprietary Limited
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa
Private Bag X9000, Saxonwold, 2132

Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

For more information please visit us at: www.angloamericankumba.com

21 February 2023