EXX: Notification Of Issue Credit Rating Withdrawal. 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 "Issuer") NOTIFICATION OF ISSUE CREDIT RATING WITHDRAWAL Following years of consistent operational and financial performance, and a strong liquidity position, Exxaro's credit rating was upgraded by Standard & Poor's (S&P) on 14 June 2021 from zaA-/zaA-2 to zaA/zaA-1. The ratings were last affirmed on 24 January 2022. Exxaro Noteholders are informed that on the Issuer has elected not to renew its National Scale Issue Credit Rating contract ("Issue Rating"). The Issuer will retain its National Scale Issuer Credit Rating with S&P. Before the S&P rating withdrawal decision, S&P historically performed dual ratings on Exxaro, as Issuer, and on the Senior Unsecured Note Issuances. Exxaro has taken the decision to not renew the Issue Rating on the Senior Unsecured Note Issuances as Exxaro, based on discussions with S&P and counsel, believes the Issue Rating provides no value to investors. It is important to highlight that this withdrawal will have no impact on the current outstanding bonds, EXX04 and EXX05, as these reference the National Scale Issuer Credit Rating in the respective Applicable Pricing Supplements. Exxaro maintains S&P as its credit rating agency and will continue to receive ratings services on Exxaro Resources Limited, the Issuer. For a detailed analysis of the credit rating of 14 June 2021, please refer to the following link: exxaro.com/assets/files/RatingsDirect_ResearchUpdateSouthAfricaBasedCoalMinerExxaroResourcesNat ionalScaleRatingsRaisedTozaAzaA1_48462284_Jun-15-2021.PDF AT NDONI GROUP COMPANY SECRETARY Pretoria 13 April 2022 Debt Sponsor Absa Bank Limited, acting through its corporate and investment banking division Date: 13-04-2022 04:20:00 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.
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Exxaro Resources Ltd. published this content on 13 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2022 14:34:02 UTC.