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Extracts from the reviewed interim results for the period ended 30 June 2022 and interim cash dividend declaration

Published: 2022-07-26 08:06:13 ET

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")

EXTRACTS FROM THE REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022 AND INTERIM CASH DIVIDEND DECLARATION


KEY FEATURES

Delivering sustainable value
- ROCE of 98%
- Interim cash dividend of R28.70 per share
- Attributable free cash flow of R9.7 billion

Caring   for our people and our communities
- Over   six years of fatality-free production
- Zero   occupational diseases
- Over   seven years without any level 3-5 environmental incidents

Resilient financial performance
- Average realised FOB export price of US$136/wmt, 15% above benchmark
- EBITDA margin of 54%
- Closing net cash of R17.6 billion


Committed to sustainable delivery
"The first six months have confirmed that as we set the foundations for further value delivery, we need to build a
business that is not only resilient but that demonstrates operational excellence. We have robust fundamentals in the
quality of our ore body and our assets. We have the infrastructure and technology in place. With the support of our
people and our strategic partners, we are in a strong position to continue to enhance returns, thereby ensuring that
all our stakeholders benefit from the continued success of Kumba."
Mpumi Zikalala, Chief Executive


REVENUE for the period ended
                                                                     30 June   30 June          %     31 December
Rand million                                                            2022      2021     change            2021
Revenue                                                               42,977    63,616        (32)        102,092


EARNINGS PER SHARE for the period ended
                                                                     30 June   30 June          %     31 December
Rand per share                                                          2022      2021     change            2021
Earnings
Basic                                                                  36.00     72.82        (51)         103.67
Diluted                                                                35.92     72.60        (51)         103.37
Headline earnings
Basic                                                                  36.13     72.78        (50)         103.65
Diluted                                                                36.04     72.56        (50)         103.35
Dividend
Interim                                                            28.70           72.70      (61)          72.70
Final                                                                n/a             n/a                    30.50


SALIENT FEATURES AND OPERATING STATISTICS for the period ended
                                                                  30 June     30 June           %      31 December
Rand million                                                         2022        2021      change             2021
Market information
Closing share price (Rand)                                            526         641         (18)             460
Market capitalisation (Rand million)                              169,417     206,325         (18)         148,160
Net asset value attributable to owners of Kumba (Rand per share)   144.60      178.45         (19)          138.53
Operating statistics ('000 tonnes)*
Production                                                         17,760      20,367         (13)          40,862
 Sishen                                                            12,921      13,944          (7)          28,014
 Kolomela                                                           4,839       6,423         (25)          12,848
Sales                                                              19,697      19,515           1           40,262
 Export sales                                                      19,697      19,408           2           40,155
 Domestic sales                                                         -         107        (100)             107
Sishen mine FOR unit cost (Rand per dry metric tonne)
 Unit cost                                                         616.40      582.58           6           555.24
 Cash cost                                                         480.68      447.95           7           432.01
Kolomela mine FOR unit cost (Rand per dry metric tonne)
 Unit cost                                                         637.22      444.68          43           444.15
 Cash cost                                                         475.02      315.35          51           324.05
* Volumes, excluding waste stripping, are reported as wet metric tonnes. Product is shipped with approximately 1.6%
  moisture.


NOTICE OF INTERIM CASH DIVIDEND
At its Board meeting on 25 July 2022, the directors approved a gross interim cash dividend of 2,870 cents per share
on the ordinary shares from profits accrued during the period ended 30 June 2022. This is comprised of a gross base
dividend of 2,710 cents per share and a gross top-up dividend of 160 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 after withholding tax at
a rate of 20% amounts to 2,296 cents per share, comprised of a net base dividend of 2,168 cents per share and a net
top-up dividend of 128 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, 26 July   2022
Last day for trading to qualify and participate in the interim dividend                      Tuesday, 16 August   2022
Trading ex-dividend commences                                                              Wednesday, 17 August   2022
Record date                                                                                   Friday, 19 August   2022
Dividend payment date                                                                         Monday, 22 August   2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 17 August 2022 and
Friday, 19 August 2022, both days inclusive.
EXTRACTS FROM THE PROVISIONAL REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022
This unreviewed short form announcement is the responsibility of the directors of the Company. The information
disclosed is only a summary of the information in the reviewed full announcement and does not contain full or
complete details.

The full interim results announcement should be considered for any investment decisions. The full interim results
announcement for Kumba is available for viewing on the Company's website
www.angloamericankumba.com/investors/financialresults-centre.aspx and at
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/KIO/KumbaInt22.pdf

The full interim results have been reviewed by the Company's auditors, PricewaterhouseCoopers Inc., who issued an
unmodified review opinion. The interim 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).

Any reference to future financial performance included in this announcement has not been reviewed 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, 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: Centurion Gate - Building 2B, 124 Akkerboom Road, Centurion, 0157, 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)

26 July 2022

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

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.