EXX: Force Majeure and Renegotiation Notification From Transnet Freight Rail. 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: EXX04 ISIN No: ZAG000160326 Bond Code: EXX05 ISIN No: ZAG000160334 (“Exxaro” or the “Company”) FORCE MAJEURE AND RENEGOTIATION NOTIFICATION FROM TRANSNET FREIGHT RAIL Exxaro shareholders are hereby advised that on 8 April 2022 Transnet SOC Limited (acting through its Transnet Freight Rail Division) (“TFR”) served subsidiaries of Exxaro, being Exxaro Coal (Proprietary) Limited and Exxaro Coal Mpumalanga (Proprietary) Limited, with letters stating that, due to circumstances beyond TFR's reasonable control, it has been unable to perform a substantial part of the services it contracted to perform. TFR believes that those circumstances will continue to detract from its ability to perform for at least the next six months and that TFR was and remains under force majeure. Relying on certain force majeure provisions contained in the long term rail transportation agreements (“Agreements”), TFR notified that those Agreements for the transportation of coal to the Richards Bay Coal Terminal (“RBCT”) have terminated. Similar notices have also been issued to other coal exporting parties with long term rail transportation agreements. TFR has expressed the intention to finalise new 5-year agreements with affected parties by 30 June 2022. TFR indicated that during this period Exxaro's allocated capacity will remain in effect until a new agreement is concluded and that it will continue to render transport services to Exxaro in terms of its standard conditions of carriage. After consultation with its legal advisers, Exxaro is of the view that the events relied upon by TFR do not constitute force majeure events, that the Agreements did not terminate, and TFR's reliance on any purported termination is invalid. However, Exxaro and the other coal exporting parties are engaging with TFR and other stakeholders to discuss this matter and to seek a mutually acceptable resolution. Both Exxaro and TFR have expressed the intention to negotiate in good faith in order to address the issues of concern to TFR. The potential impact on Exxaro cannot be determined until finalisation of the negotiations, which may result in amendments to the Agreements. Enquiries: Mzila Mthenjane, Executive head : Stakeholder Affairs Tel: +27 12 307 7393 Mobile: +27 83 417 6375 Email : Mzila.mthenjane@exxaro.com 14 April 2022 Lead Sponsor to Exxaro Resources Limited Absa Corporate and Investment Bank, a division of Absa Bank Limited Joint Equity Sponsor to Exxaro Resources Limited Tamela Holdings Proprietary Limited Date: 14-04-2022 02:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.