Sharenet Sites 
Sharenet Sites
EXX - Trading Statement for the year ended 31 December 2018
EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
(“Exxaro” or “the Company”)
TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018
Shareholders are advised that Exxaro and its directors have reasonable certainty relating to the
expected financial results of Exxaro for the year ended 31 December 2018.
Attributable earnings per share (AEPS) for the year ended 31 December 2018 are expected to be
between 2 690 cents per share and 2 886 cents per share, an increase of between 39% and 49%,
compared to 1 923 cents per share reported for the year ended 31 December 2017.
Headline earnings per share (HEPS) for the year ended 31 December 2018 are expected to be
between 2 607 cents per share and 2 708 cents per share compared to 502 cents per share reported
for the year ended 31 December 2017.
Whilst the coal business benefited from higher selling prices, the increases in AEPS and HEPS are
primarily due to the once-off transactions incurred in 2017 relating to the implementation of the
Replacement Black Economic Empowerment (BEE) Transaction which resulted in the BEE shares
to be treated as treasury shares, and excluded from the weighted average number of shares
(WANOS). The WANOS at 31 December 2018 was 251 million compared to 311 million at
31 December 2017.
If the once-off impacts of non-recurring transactions are excluded for both financial years, the core
HEPS(1) (based on a core WANOS(1) of 332 million shares) for the year ended 31 December 2018
are expected to be between 2 073 cents per share and 2 215 cents per share, an increase of between
3% and 10% compared to 2 011 cents per share reported for the year ended 31 December 2017.
For the sake of clarity, core AEPS are the same as core HEPS.
Shareholders are advised that Exxaro will release its reviewed financial results for the year ended
31 December 2018 on 14 March 2019. 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) Core HEPS are calculated by adjusting headline earnings with once-off Items and core WANOS is calculated by
deducting Exxaro’s 24.9% shareholding in Eyesizwe RF Proprietary Limited from Exxaro’s total shares in issue. These are
not defined terms under International Financial Reporting Standards and may not be comparable with similarly titled
measures reported by other companies. The afore-mentioned adjustments are the responsibility of the directors of Exxaro.
The adjustments have been prepared for illustrative purposes only and due to their nature, may not fairly present Exxaro´s
financial position, changes in equity, results of operations or cash flows.
Editor’s note:
Exxaro is one of the largest South African based diversified resources companies, with interests in
the coal, titanium dioxide, iron ore and energy. www.exxaro.com
Enquiries:
Mzila Mthenjane, Executive head: Stakeholder affairs
Tel: + 27 12 307 7393 ? Mobile: +27 83 417 6375 ?Email: Mzila.mthenjane@exxaro.com
Pretoria
5 March 2019
Sponsor:
Absa Bank Limited (acting through its corporate and investment bank
Date: 05/03/2019 08:23:00 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.
