Investor Presentaiton

SOUTH AFRICA ENERGY COAL KEY METRICS Operating cost, including Sustaining capital expenditure¹ FY16 Operating cost (excluding Sustaining capital) ΞΙΙΙ ΙΙΙΞ SOUTH 32 ■Labour related 33 33 26% 24% 27 Transport & logistics 26 Operating unit cost, 1,137 including Sustaining 888 capital expenditure (US$/t) Raw materials & consumables 813 21% 29% Other FY15 FY16 FY17e Costs expected to decline in FY17 as the assumed depreciation of the South African Rand offsets an increase in stripping activity required to access new mining areas, primarily at WMC Operating cost, including Sustaining capital expenditure (US$M) Fixed: ~65% Variable: ~35% Employee and contractor headcount 2 9,530 FY15 7,070 FY16 7,740 FY17e Notes: 1. 2. Operating unit cost, including Sustaining capital expenditure, and Sustaining capital expenditure guidance for FY17e, include royalties (where appropriate) and the influence of exchange rate assumptions, and are predicated on a thermal coal price of US$54/t (API4) and a USD:ZAR exchange rate of 16.57; which reflect forward markets at the end of May 2016 or our internal expectations. Compares end of period average contractors and employees for respective financial years (FY15, FY16 and FY17e). 28 SEPTEMBER 2016 KLIPSPRUIT INVESTOR TOUR SLIDE 8

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