The Mineral Resources and Mineral Reserves remaining as at 31 December 2020 are indicated in this document. Mineral Resource and Mineral Reserve figures are not an inventory of all mineral occurrences drilled or sampled but a realistic record of those, under assumed and justifiable technical and economic conditions, that may be economically extractable currently and in future.

Mineral Resources and Mineral Reserves are reported inclusive of Mineral Resources that have been converted to Mineral Reserves. An exception is reporting for Gamsberg and Black Mountain Mining because figures received from Vedanta (JORC Code) represent Mineral Resources excluding those Mineral Resources converted to Mineral Reserves.

Exxaro includes all estimates directly under its management control and estimates of entities in which Exxaro holds a 25% interest or larger. Mineral Resources and Mineral Reserves are reported at 100% irrespective of the percentage attributable to Exxaro.

The percentage attributable tonnage (only coal) can be deduced from the attributable ownership (Figure 8) stated in the Coal Resources and Coal Reserves tables, and the summarised tonnages are shown in Table 4.

Explanations for material changes in year-on-year movements are provided as footnotes in the Mineral Resources and Mineral Reserves tables.

Table 4: Attributable Coal Resource and Coal Reserve tonnages

Commodity: Coal	Resource category		2020  mineable  tonnes  in situ (Mt)
Exxaro attributable tonnes	Measured		4 172
	Indicated		2 555
	Inferred		3 467
	Total Coal Resources		10 194
	Proved		2 022
	Probable		1 095
	Total Coal Reserves		3 117

Figure 8: Coal joint venture operations in Mpumalanga

COAL RESOURCES

The table below details the total inclusive Coal Resources estimated as at 31 December 2020.

Table 5: Coal Resources and qualities

			2020						2019
			Tonnes and quality4						Tonnes and quality4						%    change   in   tonnes5
Operation1	Location3	Resource category	Mt	CV (MJ/kg)	% Ash	% IM	% VM	% S	Mt	CV  (MJ/kg)	% Ash	% IM	% VM	% S
Matla mine6 (UG) (captive market) Mpumalanga 100% attributable to Exxaro2		Measured	694	20.5	29.9	4.5	22.2	1.0	705	20.2	30.6	4.5	22.0	1.0	(2)
		Indicated	123	20.4	29.4	4.5	22.1	0.8	105	21.1	27.6	4.3	22.1	0.9	17
		Inferred	151	19.4	31.8	4.6	20.7	0.9	232	19.6	30.8	4.5	21.3	0.9	(35)
		Total	969	20.3	30.2	4.5	21.9	0.9	1 043	20.1	30.4	4.5	21.8	1.0	(7)
	Resources inside LoM plan		290	21.3	27.7	4.8	22.9	1.0	311	21.2	27.6	4.7	22.9	1.0	(7)
Leeuwpan mine7 (OC) (commercial market) Mpumalanga 100% attributable to Exxaro2		Measured	79.9	20.1	31.3	3.2	18.7	1.2	92.8	20.1	31.3	3.0	18.1	1.1	(14)
		Indicated	2.6	21.9	26.9	3.3	21.2	1.3	2.6	20.7	29.1	2.8	21.1	1.2	2
		Inferred	3.6	20.1	34.6	2.6	14.7	1.0	3.6	21.0	32.3	2.3	14.0	1.1	(1)
		Total	86.1	20.1	31.3	3.2	18.6	1.2	99.0	20.2	31.3	2.9	18.0	1.1	(13)
	Resources inside LoM plan		52.6	20.1	30.7	3.1	19.6	1.3	64.6	20.0	31.1	2.7	18.9	1.2	(19)
Mafube mine8 (OC) (commercial market) Mpumalanga 50% attributable to Exxaro2		Measured	111.2	21.6	26.2	3.8	22.5	1.0	117.6	21.5	26.9	3.8	22.4	1.0	(5)
		Indicated	9.9	21.7	26.0	3.9	22.4	1.0	9.7	21.9	25.9	3.9	22.6	0.9	2
		Inferred	2.6	21.7	25.9	3.8	22.1	0.9
		Total	123.7	21.6	26.1	3.8	22.5	1.0	127.3	21.5	26.8	3.8	22.4	1.0	(3)
	Resources inside LoM plan		59.2	22.2	24.5	3.8	22.9	1.0	56.5	21.9	25.6	3.7	22.7	1.0	5
Belfast mine OC) mining right) Mpumalanga 100% attributable to Exxaro2		Measured	71.3	24.8	18.5	3.6	23.3	1.1	74.6	24.9	18.5	3.6	23.3	1.1	(4)
		Indicated	19.9	22.3	25.3	3.6	22.0	1.1	20.1	22.4	25.2	3.6	22.0	1.1	(1)
		Inferred	34.0	21.5	26.9	3.4	20.9	0.8	34.1	21.6	26.8	3.4	20.9	0.8	—
		Total	125.3	23.5	21.9	3.5	22.4	1.0	128.8	23.6	21.7	3.5	22.5	1.0	(3)
	Resources inside LoM plan		44.2	25.0	18.4	3.5	23.5	1.2	45.7	25.0	18.3	3.5	23.6	1.2	(3)
Dorstfontein complex (OC/UG) (commercial market) Mpumalanga 74% attributable to Exxaro2		Measured	175.6	20.0	33.1	2.9	20.1	1.1	149.1	19.8	33.6	2.9	20.0	1.1	18
		Indicated	121.4	18.9	33.1	3.2	19.4	1.2	135.5	19.3	34.4	3.1	19.8	1.2	(10)
		Inferred	53.3	19.3	34.6	3.0	19.0	1.1	52.1	19.3	34.4	2.9	19.3	1.1	2
		Total	350.2	19.5	33.3	3.0	19.7	1.1	336.7	19.5	34.0	3.0	19.8	1.1	4
	Resources inside LoM plan		115.2	21.5	28.4	3.1	20.5	1.1	102.0	20.0	32.5	3.0	20.2	1.1	13
Forzando complex9 (OC/UG) (commercial market) Mpumalanga 86.74% attributable to Exxaro2		Measured	86.9	21.2	30.2	2.8	22.7	1.1	85.5	21.6	29.1	2.8	23.3	1.1	2
		Indicated	32.3	21.6	29.6	2.8	21.4	1.2	36.3	22.2	27.6	2.8	22.7	1.3	(11)
		Inferred	30.5	20.8	31.2	3.1	20.6	1.2	26.4	21.2	30.2	2.9	20.6	1.2	16
		Total	149.7	21.2	30.3	2.9	22.0	1.2	148.2	21.7	28.9	2.9	22.6	1.2	1
	Resources inside LoM plan		17.8	21.7	28.9	3.0	23.4	1.2	43.3	21.2	30.1	2.8	22.9	1.1	(59)
Forzando projects10 (OC/UG) (prospecting right) Mpumalanga 74% attributable to Exxaro2		Measured	1.6	21.7	29.3	2.7	18.5	0.8	0.2	21.3	30.7	2.5	19.6	0.5	544
		Indicated	2.6	20.9	32.1	2.6	15.5	0.7	2.1	21.6	29.5	2.7	18.0	0.7	25
		Inferred	0.8	17.2	41.8	2.9	13.9	0.5	0.5	18.0	38.5	3.1	16.6	0.6	65
		Total	5.0	20.6	32.7	2.7	16.2	0.7	2.8	20.9	31.1	2.8	17.9	0.6	78
Schurvekop 1063 PR (UG) (prospecting right) Mpumalanga 49% attributable to Exxaro2		Measured	35.9	20.0	32.1	3.3	21.9	1.2	35.5	20.1	31.9	3.3	22.0	1.2	1
		Indicated	5.5	19.7	32.6	3.3	20.9	1.0	6.5	20.1	31.9	3.3	21.0	1.2	(15)
		Inferred	0.2	19.6	32.7	3.8	21.7	0.8	0.2	19.6	32.6	3.8	21.7	0.8	—
		Total	41.6	20.0	32.2	3.3	21.7	1.2	42.2	20.0	32.2	3.3	21.9	1.2	(1)

Table 5: Coal Resources and qualities continued

			2020						2019
			Tonnes and quality4						Tonnes and quality4
			Mt	CV  (MJ/kg)	%  Ash	%  IM	%  VM	% S	Mt	CV (MJ/kg)	% Ash	% IM	% VM	% S	% change  in  tonnes5
		Resource
Operation1	Location3	category
Tumelo mine11		Measured	7.7	21.6	29.9	2.5	21.6	1.5	8.4	21.6	29.9	2.5	21.6	1.5	(8)
(UG)		Indicated	0.2	20.6	32.8	2.5	21.1	1.6	0.2	20.6	32.8	2.5	21.1	1.6
Mpumalanga
		Inferred	1.8	21.4	31.0	2.4	19.4	1.8	1.8	21.4	31.0	2.4	19.4	1.8
49% attributable
to Exxaro2		Total	9.7	21.5	30.1	2.5	21.2	1.6	10.4	21.5	30.1	2.5	21.2	1.6	(7)
Grootegeluk mine12		Measured	2 532	16.7	47.7	1.8	20.3	1.5	2 786	16.7	47.8	1.7	20.3	1.5	(9)
(OC)		Indicated	1 422	16.1	49.3	1.7	20.1	1.4	1 017	16.5	48.4	1.6	20.0	1.4	40
(commercial market)
		Inferred	338	16.4	48.4	1.8	20.2	1.6	653	16.5	48.0	1.8	20.1	1.5	(48)
Limpopo
100% attributable		Total	4 291	16.5	48.3	1.8	20.2	1.5	4 455	16.7	48.0	1.7	20.2	1.5	(4)
to Exxaro
	Resources inside LoM plan		2 965	16.2	49.1	1.7	20.3	1.4	3 722	16.3	48.8	1.7	20.2	1.5	(20)
Thabametsi project13		Measured	270	13.0	52.3	1.9	20.0	1.2	270	13.0	52.3	1.9	20.0	1.2
(OC/UG)		Indicated	749	12.6	53.1	1.8	19.8	1.1	749	12.6	53.1	1.8	19.8	1.1
(mining right)
		Inferred	2 857	12.7	52.7	1.9	19.3	1.3	2 916	12.7	52.7	1.9	19.3	1.3	(2)
Limpopo
100% attributable		Total	3 876	12.7	52.7	1.9	19.7	1.3	3 935	12.7	52.7	1.9	19.7	1.3	(1)
to Exxaro2
	Resources inside LoM plan		133	12.0	54.7	1.9	20.0	1.0	133	12.0	54.7	1.9	20.0	1.0
Moranbah South project14		Measured	482.0	26.7	23.7	2.6	18.5	0.6	482.0	26.7	23.7	2.6	18.5	0.6
(UG) (prospecting)		Indicated	222.0	27.3	21.7	2.6	17.9	0.6	222.0	27.3	21.7	2.6	17.9	0.6
Australia
		Inferred	28.0	28.5	18.9	2.7	17.0	0.5	28.0	28.5	18.9	2.7	17.0	0.5
50% attributable
to Exxaro2		Total	732.0	27.0	22.9	2.6	18.3	0.6	732.0	27.0	22.9	2.6	18.3	0.6

• Rounding of figures may cause computational discrepancies.
• All changes more than 10% in the total Resources of an operation are explained. Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
• Coal Resources and qualities (raw coal) are quoted on a mineable tonnage in situ (MTIS) and air-dried basis.
• Coal Resources are quoted inclusive of Coal Resources that have been modified to Coal Reserves unless otherwise stated.
• Resources inside LoM plan refer to MTIS Resources in LoM plan layout.
• Thickness and quality cut-offs applied at each project or mine are stated in the ancillary section.

1	Operation refers to operating mine or significant project. The mining methods are opencast (OC) and underground (UG).
2	Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2020 only.
3	Locality maps are for illustrative purposes only. Detailed maps are provided in the ancillary section.
4	Raw coal qualities (air-dried basis). CV: calorific value (gross), IM: inherent moisture, S: total sulphur and VM: volatile matter.
5	The percentage difference between 2020 reported MTIS and 2019 reported MTIS with brackets signifying a negative.
6	The move between the categories is the result of new information and the exclusion of sterilised resource blocks.
7	The decrease is the result of mining (7.6Mt), implementation of geological risk domains (3.9Mt) and the disposal at Moabsvelden due to geotechnical considerations (1.5Mt).
8	Estimates are received from Anglo American Coal Proprietary Limited and not audited by Exxaro.
9	The change of Resources inside LoM plan reflects the change in the Reserve.
10	The movement within the categories is the result of new information and an update of the geological model.
11	Estimates are received from Mmakau Mining, the majority (51%) owner of the project.
12	Change to Coal Resources inside LoM is the result of the new mine layout and movement within the categories is due to new information.
13	The project is adjacent to the Grootegeluk mine.
14	Estimates are received from Anglo American Metallurgical Coal Proprietary Limited and not audited by Exxaro.

COAL RESERVES

The table below details the total Coal Reserves estimated as at 31 December 2020.

Table 6: Coal Reserves

	2020								2019
	RoM and saleable tonnes5								RoM and saleable tonnes5
Operation1	Location3	LoM  (years)4	Category	RoM (Mt)	RoM  moisture %	Export (Mt)	Thermal (Mt)	Metallurgical (Mt)	RoM (Mt)	RoM moisture %	Export (Mt)	Thermal (Mt)	Metal-lurgical (Mt)	%  change  in RoM6
Matla7 (UG) (captive market) 100% attributable to Exxaro2		3+	Proved	147.5	7.7		147.5		145.3	7.7		145.3		2
			Probable	21.7	9.7		21.7		15.6	9.7		15.6		39
			Total	169.2	8.0		169.2		160.9	7.9		160.9		5
			Inferred Resources inside LoM plan	8.4					27.2					(69)
Leeuwpan (OC) (commercial market) 100% attributable to Exxaro2		8	Proved	42.0	3.1		27.8		45.9	3.1		33.2		(8)
			Probable	5.7	2.8		2.0	1.9	6.1	2.7		3.2	1.3	(6)
			Total	47.8	3.1		29.8	1.9	52.1	3.1		36.4	1.3	(8)
			Inferred Resources inside LoM plan
Mafube8 (OC) (commercial market) 50% attributable to Exxaro2		11	Proved	32.1	5.7	21.1
			Probable	23.0	5.8	14.8			56.7	8.4	36.9			(59)
			Total	55.1	5.7	35.9			56.7	8.4	36.9			(3)
			Inferred Resources inside LoM plan	1.8
Belfast9 (OC) (commercial market) 100% attributable to Exxaro2		11	Proved	40.2	3.3	36.5			42.2	3.3	30.8	6.9		(5)
			Probable	40.2	2.9	1.7			1.4	3.0	0.7	0.6		50
			Total	42.3	3.3	38.2			43.6	3.3	31.6	7.5		(3)
			Inferred Resources inside LoM plan	0.5					0.7					(29)
Dorstfontein complex10 (OC/UG) (commercial market) 74% attributable to Exxaro2		16+	Proved	50.9	2.9	28.7			46.5	3.3	14.3	14.0		9
			Probable	30.1	3.3	18.9			41.5	3.3	13.3	13.3		(27)
			Total	81.0	3.1	47.6			88.0	3.3	27.6	27.4		(8)
			Inferred Resources inside LoM plan	0.8					0.9					(11)
Forzando complex11 (OC/UG) (commercial market) 86.74% attributable to Exxaro2		5	Proved	9.6	3.0	6.1			23.9	2.7	13.8			(60)
			Probable	4.1	3.0	2.9			10.7	2.9	6.4			(62)
			Total	13.7	3.0	9.1			34.6	2.8	20.2			(60)
			Inferred Resources inside LoM plan	0.2					0.1		100			100
Waterberg Complex Grootegeluk mine12 (OC) (commercial market) 100% attributable to Exxaro2
		21+	Proved	1 730	3.0	113	712	40	2 520	3.0	146	1 015	70	(31)
			Probable	898	3.0	59	370	21	645	3.0	60	398	26	39
			Total	2 628	3.0	171	1 082	61	3 165	3.0	206	1 413	96	(17)
			Inferred Resources inside LoM plan	137					510					(73)
Thabametsi project13 (OC) (IPP market) 100% attributable to Exxaro2		26	Proved						109	3.0		107		(100)
			Probable	130	3.0		127		21	3.0		20		519
			Total	130	3.0		127		130	3.0		127		—
			Inferred Resources inside LoM plan

• Rounding of figures may cause computational discrepancies.
• Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
• Inferred Resources inside Lom plan refer to Inferred Resources considered for the LoM plan. These Resources have not been converted to Reserves.
• Coal Reserves are quoted on a RoM Reserve tonnage basis, which represents tonnages delivered to the plant at an applicable moisture and quality basis.
• Saleable Reserve tonnage represents the product tonnes of coal available for sale on an applicable moisture basis.
• All changes more than 10% in the total Reserves of an operation are explained.
• Resource to Reserve modifying factors per operation are stated in the auxilary section.

1	Operation refers to operating mine or significant project. Mining method: OC or UG.
2	Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2020 only.
3	Locality maps are for illustrative purposes only. Detailed maps are provided in the ancillary section.
4	The + symbol is used in instances where the scheduled LoM plan extends beyond the expiry of the mining right. In each instance, Exxaro has a reasonable expectation that the mining right will be renewed.
5	Export refers to export thermal coal except at Grootegeluk mine where it refers to semi-soft coking coal suitable for the export and inland markets.
6	The percentage difference between 2020 reported RoM and 2019 reported RoM, and the percentage difference between 2020 reported total saleable tonnes and 2019 reported total saleable tonnes. Brackets signify a negative.
7	The change is the result of new information and an updated LoM plan.
8	Increase in Proved Reserves is the result of the approval of the bankable feasibility study. Estimates are received from Anglo American Coal Proprietary Limited and not audited by Exxaro.
9	The increase of ~0.7Mt in the Probable category is the result of a new pit layout.
10	Movement between categories is the result of mining (-4.1Mt), new information (3.6Mt), sterilisation due to dolerite activity (-4.5Mt), and the introduction of a new underground mine layout at Dorstfontein east (-1.8Mt).
11	Decrease is due to economic factors rendering Coal Reserve blocks non profitable.
12	High-value exploitation strategy excluded Coal Reserves within the latter part of the mine life.
13	The Coal Reserve is reported as Probable as a result of the lapse of the IPP project development agreement.

Table 7: Coal Reserve qualities

		THERMAL saleable (Proved and Probable)						METALLURGICAL saleable (Proved and Probable)						COKING saleable (Proved and Probable)
Operation	Seam/layer	Mt1	CV MJ/ kg	% VM	% Ash	% S	Yield %	Mt	CV MJ/ kg	% VM	% Ash	% S	Yield %	Mt1	CV MJ/ kg	% VM	% Ash	% S	Yield %
Matla mine	2 seam	63.30	22.40	24.76	21.97	0.84	100.00
	4 seam	105.90	19.25	22.84	30.19	0.90	100.00
Leeuwpan mine	TC2	11.58	22.65	19.53	25.97	0.97	54.90
	BC2	18.21	24.03	24.29	21.40	0.91	77.70	1.87	27.83	8.43	14.96	0.90	57.73
Mafube mine	Middlings	13.10	21.65	19.22	25.94	0.42	23.77
	Export	22.70	26.61	26.14	13.34	0.40	41.20
Belfast mine	Export	38.20	25.31	23.40	17.55	0.69	90.12
Dorstfontein complex	All seams	47.60	24.60	22.10	20.10	0.58	58.70
Forzando complex	All seams	9.10	25.50	26.70	18.90	1.06	66.20
Grootegeluk mine	All seams	1 081.70	21.19	24.37	32.71	1.50	40.66	60.80	28.87	23.72	13.61	0.61	61.21	171.40	29.01	35.11	11.89	1.12	12.89
Thabametsi3 project	T1	64.00	12.70	20.00	53.90	1.10	98.00
	T2	63.00	11.30	19.00	55.70	1.00	98.00

• Rounding of figures may cause computational discrepancies.
• Volatile matter (VM), sulphur (S) and gross calorific value (CV).
• Saleable reserve tonnage represents the product tonnes of coal available for sale on an applicable moisture and air-dried quality basis.

1	Saleable product tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
2	Top coal (TC) and bottom coal (BC).
3	Based on Thabametsi bench configuration as defined in phase 1 of the feasibility study.

BASE METAL RESOURCES

The table below details Base Metal Resources (exclusive) as at 31 March 2020.

Table 8: Base Metal Resources (exclusive)

		2020					2019
		Tonnes and grade					Tonnes and grade
Operation1	Category	Mt	% Zn	% Pb	% Cu	Ag g/t	Mt	% Zn	% Pb	% Cu	Ag g/t	% change  in tonnes
Deeps mine3	Measured	3.3	3.2	3.6	0.3	38.5	5.6	2.9	3.2	0.3	37.0	(42)
Northern Cape	Indicated	3.9	3.2	2.7	0.5	37.1	9.1	2.6	2.2	0.5	27.0	(57)
(UG) (zinc, lead, copper and silver)	Inferred
26% attributable to Exxaro2	Total	7.2	3.2	3.1	0.5	37.7	14.6	2.7	2.6	0.4	31.0	(51)
Swartberg mine4	Measured
Northern Cape	Indicated	63.7	0.9	2.6	0.3	45.4	57.3	1.3	3.2	0.3	53.0	11
(UG) (zinc, lead, copper and silver)	Inferred	19.1	1.1	2.8	0.2	45.4	14	1.2	3.4	0.3	48.0	37
26% attributable to Exxaro2	Total	82.8	1.0	2.7	0.3	45.4	71.3	1.3	3.2	0.3	52.0	16
Big Syncline Project5	Measured
Northern Cape	Indicated	6.1	3.0	1.1		15.5
(OC) (zinc)	Inferred	161.8	2.5	1.0		12.3	151.7	2.5	1.0		13.0	7
26% attributable to Exxaro2	Total	167.9	2.5	1.0		12.4	151.7	2.5	1.0		13.0	11
Gamsberg North mine6	Measured	1.7	6.6	0.5			35.1	6.5	0.6			(95)
Northern Cape	Indicated	38.5	5.9	0.5			35.8	6.6	0.6			8
(OC) (zinc)	Inferred	17.9	5.8	0.5			17.9	6.7	0.5			–
26% attributable to Exxaro2	Total	58.1	5.9	0.5			88.8	6.6	0.6			(35)
Gamsberg East7	Measured
Northern Cape	Indicated
(project) (zinc)	Inferred	48.5	8.5	0.5			42.2	9	0.6			15
26% attributable to Exxaro2	Total	48.5	8.5	0.5			42.2	9	0.6			15

• Rounding of figures may cause computational discrepancies.
• Percentage zinc (% Zn), percentage copper (% Cu), percentage lead (% Pb), grams per tonne silver (Ag g/t), percentage manganese (% Mn) and percent sulphur (% S).
• Estimates as received from Vedanta Resources at 31 March 2020 and not audited by Exxaro.
• All changes more than 10% are explained.
• Tonnages are reported on a dry basis.

1	Operation refers to the Black Mountain Mining operating mine or significant project. Mining method: OC or UG.
2	Figures are reported at 100% irrespective of percentage attributable to Exxaro.
3	The decrease is mainly the result of depletion and additional sterilisation of Resources not mined.
4	The increase is mainly the result of additional exploration, reporting of open-pit Resources and affected by transferring of Resources to Reserves.
5	Big Syncline is a brownfields exploration project. This is a high-volume, low-grade Zn deposit. The increase is the result of changes to Resource reporting criteria with increased commodity prices.
6	The decrease is the result of Resources being transferred to Reserves.
7	The increase is mainly the result of changes to reporting criteria with increased commodity prices.

BASE METAL RESERVES

The table below details Base Metal Reserves as at 31 March 2020.

Table 9: Base Metal Reserves

			2020					2019
			Tonnes and grade					Tonnes and grade
Operation1	LoM (years)	Category	RoM   (Mt)3	% Zn	% Pb	% Cu	Ag g/t	RoM   (Mt)3	% Zn	% Pb	% Cu	Ag g/t	%  change  in RoM
BMM Deeps mine3 Northern Cape (UG) (zinc, lead, copper and silver) 26% attributable to Exxaro2	3	Proved	1.5	2.9	3.4	0.3	35.2	1.6	2.9	3.6	0.3	37.0	(9)
		Probable	2.5	3.1	1.6	0.7	21.1	3.5	2.9	1.4	0.7	21.0	(30)
		Total	3.9	3.0	2.3	0.5	26.4	5.1	2.9	2.1	0.6	26.0	(23)
	Inferred Resources inside LoM plan		–			–
BMM Swartberg mine4 Northern Cape (UG) (zinc, lead, copper and silver) 26% attributable to Exxaro2	3	Proved
		Probable	25.4	0.5	1.7	0.5	21.6	2.6	0.7	3.4	0.5	28.0	875
		Total	25.4	0.5	1.7	0.5	21.6	2.6	0.7	3.4	0.5	28.0	875
	Inferred Resources inside LoM plan		–			–
Gamsberg North mine5 Northern Cape(OC) (zinc ) 26% attributable to Exxaro2	12	Proved	78.2	6.4	0.5			50.3	6.8	0.5			55
		Probable	29.9	5.2	0.5			3.4	5.8	0.5			779
		Total	108.1	6.1	0.5			53.7	6.7	0.5			101
	Inferred Resources inside LoM plan

• Rounding of figures may cause computational discrepancies.
• Percentage zinc (% Zn), percentage copper (% Cu), percentage lead (% Pb), grams per tonne silver (Ag g/t), percentage manganese (% Mn) and percentage sulphur (% S).
• Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
• Reserves are quoted on a RoM reserve tonnage basis, which represents tonnages delivered to the plant at applicable moisture and quality.
• Inferred resources in LoM plan refer to Inferred Resources considered for LoM plan.
• Estimates as received from Vedanta Resources at 31 March 2020 and not audited by Exxaro.
• All changes more than 10% are explained.

1	Operation refers to the Black Mountain Mining operating mine or significant project. Mining method: OC or UG.
2	Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to March 2020 only.
3	The decrease is due to mining depletion.
4	The increase is primarily the result of the completion of the open-pit feasibility study with the associated declaration of open-pit Reserves.
5	The increase is mainly the result of the completion of technical studies relating to a larger open pit used for reporting the Reserves as well as the transferral of exclusive Resources into Reserves.