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 code: EXX05
ISIN: ZAG000160334
(Exxaro or the Company)


TRADING STATEMENT FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2023
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 2023.
Headline earnings per share (HEPS) for the six-month period ended 30 June 2023 is expected to
decrease between 23% and 37% compared to the six-month period ended 30 June 2022.
Attributable earnings per share (AEPS) for the six-month period ended 30 June 2022 is also expected
to decrease between 23% and 37% compared to the six-month period ended 30 June 2022.
EBITDA(1) for the six-month period ended 30 June 2023 is expected to decrease between 22% and
36% compared to the six-month period ended 30 June 2022.
The decrease in earnings at our own managed operations is largely attributable to lower coal sales
prices and volumes, compounded by the impact of ongoing logistical challenges. 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 expected ranges are summarised below: -
                 Unit       30     June         30 June 2023           30 June 2023                30 June 2023
                            2022
                            Reported            Expected               Expected range              Expected range
                            earnings            earnings
  AEPS           cents      3 409               2 148 – 2 625          23% - 37%                   784 – 1 261 cents
                                                                       decrease                    decrease
  HEPS           cents      3 426               2 158 – 2 638          23% - 37%                   788 – 1 268 cents
                                                                       decrease                    decrease
  EBITDA(1)      R          10 603              6 786 – 8 270          22% - 36%                   R2 333 – R3 817
                 million                                               decrease                    million decrease

Shareholders are advised that Exxaro will release its reviewed financial results for the six-month
period ended 30 June 2023 on or about 17 August 2023. 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 Ling-Ling Mothapo
Tel: + 27 12 307 6000
Email: Lin-ling.Mothapo@exxaro.com
Pretoria
11 August 2023


Lead Equity Sponsor and Debt Sponsor
Absa Bank Limited (acting through its corporate and investment banking division).




Joint Equity Sponsor
Tamela Holdings Proprietary Limited