FD PRE-CLOSE MESSAGE SUPPLEMENT

Further to the FD Pre-close message published on the JSE Limited Stock Exchange News Service (SENS) on 19 November 2015 and the tele-conference held on 20 November 2015, additional information was provided based on the responses to questions raised by the participants on the call. Although a playback with the details of the tele-conference is available until 27 November 2015, Exxaro would like to bring your attention to the additional information that was not published on SENS.

Additional information from questions and answers session

  1. Regarding a question on the expected performance of Exxaro Coal Central Proprietary Limited (ECC) since Exxaro acquired Total Coal South Africa Proprietary Limited (TCSA):
    Response: Expect a loss from ECC for both 2015 and 2016 financial years.
  2. Regarding export volumes forecast for 2016:
    Response: Guidance of 6.5 Million tonnes of exports for 2016 was provided.
  3. Regarding expected group cash flows for 2016:
    Response: Guidance of an expected cash flow neutral position as a worst case in 2016, which is expected to result in 2016 debt levels similar to those in 2015.
  4. Regarding expected dividends from Exxaro investments:
    Response: Guidance provided that Exxaro’s internal assumption is that the group expects zero dividends from the Sishen Iron Ore Company (SIOC) investment and lower dividends from the Tronox Limited investment in 2016.

In line with the FD Pre-close message, the information in this message is the responsibility of the directors of Exxaro and has not been reviewed nor reported on by Exxaro’s external auditors.

Enquiries:
Wim de Klerk
Finance director
Tel: + 27 12 307 4848
Mobile: +27 82 652 5145
Email: wim.deklerk@exxaro.com

Pretoria
23 November 2015

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