Kumba Iron Ore Limited

Registration number: 2005/015852/06

JSE share code: KIO

ISIN: ZAE000085346

Income tax number: 9586/481/15/3

("Kumba" or "the Company" or "the group")

EXTRACTS FROM THE REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022 AND INTERIM CASH DIVIDEND DECLARATION

KEY FEATURES

Delivering sustainable value

  • ROCE of 98%
  • Interim cash dividend of R28.70 per share
  • Attributable free cash flow of R9.7 billion

Caring for our people and our communities

  • Over six years of fatality-free production
  • Zero occupational diseases
  • Over seven years without any level 3-5 environmental incidents

Resilient financial performance

  • Average realised FOB export price of US$136/wmt, 15% above benchmark
  • EBITDA margin of 54%
  • Closing net cash of R17.6 billion

Committed to sustainable delivery

"The first six months have confirmed that as we set the foundations for further value delivery, we need to build a business that is not only resilient but that demonstrates operational excellence. We have robust fundamentals in the quality of our ore body and our assets. We have the infrastructure and technology in place. With the support of our

people and our strategic partners, we are in a strong position to continue to enhance returns, thereby

ensuring that

all our stakeholders benefit from the continued success of Kumba."

Mpumi Zikalala, Chief Executive

REVENUE for the period ended

30 June

30 June

%

31 December

Rand million

2022

2021

change

2021

Revenue

42,977

63,616

(32)

102,092

EARNINGS PER SHARE for the period ended

30 June

30 June

%

31 December

Rand per share

2022

2021

change

2021

Earnings

Basic

36.00

72.82

(51)

103.67

Diluted

35.92

72.60

(51)

103.37

Headline earnings

Basic

36.13

72.78

(50)

103.65

Diluted

36.04

72.56

(50)

103.35

Dividend

Interim

28.70

72.70

(61)

72.70

Final

n/a

n/a

30.50

SALIENT FEATURES AND OPERATING STATISTICS for the period ended

30 June

30 June

%

31 December

Rand million

2022

2021

change

2021

Market information

Closing share price (Rand)

526

641

(18)

460

Market capitalisation (Rand million)

169,417

206,325

(18)

148,160

Net asset value attributable to owners of Kumba (Rand per share)

144.60

178.45

(19)

138.53

Operating statistics ('000 tonnes)*

Production

17,760

20,367

(13)

40,862

Sishen

12,921

13,944

(7)

28,014

Kolomela

4,839

6,423

(25)

12,848

Sales

19,697

19,515

1

40,262

Export sales

19,697

19,408

2

40,155

Domestic sales

-

107

(100)

107

Sishen mine FOR unit cost (Rand per dry metric tonne)

Unit cost

616.40

582.58

6

555.24

Cash cost

480.68

447.95

7

432.01

Kolomela mine FOR unit cost (Rand per dry metric tonne)

Unit cost

637.22

444.68

43

444.15

Cash cost

475.02

315.35

51

324.05

  • Volumes, excluding waste stripping, are reported as wet metric tonnes. Product is shipped with approximately 1.6% moisture.

NOTICE

OF INTERIM

CASH

DIVIDEND

At

its

Board meeting on

25 July 2022,

the directors approved a gross

interim cash

dividend of 2,870

cents per share

on

the

ordinary shares

from

profits accrued during the period

ended 30 June 2022.

This is

comprised

of

a gross base

dividend of

2,710

cents

per

share and

a gross top-up dividend

of 160

cents per share. The

dividend has

been declared

from income

reserves.

The dividend will be subject to a dividend withholding tax of 20% for all shareholders who are not exempt from or do not qualify for a reduced rate of withholding tax. The net dividend payable to shareholders after withholding tax at a rate of 20% amounts to 2,296 cents per share, comprised of a net base dividend of 2,168 cents per share and a net top-up dividend of 128 cents per share.

The issued share capital at the declaration date is 322,085,974 ordinary shares.

The salient dates are as follows:

Publication of declaration data

Tuesday, 26 July 2022

Last day

for trading to qualify and participate in the interim dividend

Tuesday, 16

August 2022

Trading ex-dividend commences

Wednesday, 17

August 2022

Record date

Friday,

19

August

2022

Dividend

payment date

Monday,

22

August

2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 17 August 2022 and Friday, 19 August 2022, both days inclusive.

EXTRACTS FROM THE PROVISIONAL REVIEWED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2022

This unreviewed short form announcement is the responsibility of the directors of the Company. The information disclosed is only a summary of the information in the reviewed full announcement and does not contain full or complete details.

The full interim results announcement should be considered for any investment decisions. The full interim results announcement for Kumba is available for viewing on the Company's website www.angloamericankumba.com/investors/financialresults-centre.aspx and at https://senspdf.jse.co.za/documents/2022/JSE/ISSE/KIO/KumbaInt22.pdf

The full interim results have been reviewed by the Company's auditors, PricewaterhouseCoopers Inc., who issued an unmodified review opinion. The interim results announcement is also available for inspection at the Company's registered office during normal business hours and is available at no charge. Alternatively, copies of the full announcement may be requested from the Company's investor relations department (https://www.angloamericankumba.com/investors/shareholdercommunication).

Any reference to future financial performance included in this announcement has not been reviewed or reported on by the Company's external auditors.

Kumba Iron Ore Limited is a member of the Anglo American plc Group

Directors

Non-executive: TP Goodlace (British/South African) (Chairman), MS Bomela, MA Jenkins, NB Langa-Royds, TM Mkhwanazi, SS Ntsaluba, BP Sonjica, MJ Tsele, DG Wanblad

Executive: ND Zikalala (Chief Executive), BA Mazarura (Zimbabwean) (Chief Financial Officer)

Registered office: Centurion Gate - Building 2B, 124 Akkerboom Road, Centurion, 0157, South Africa

Transfer Secretaries: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa, Private Bag X9000, Saxonwold, 2132

Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

26 July 2022

For more information please visit us at: www.angloamericankumba.com

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Kumba Iron Ore Ltd. published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 05:28:04 UTC.