Earnings release
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Kumba Iron Ore Limited A member of the Anglo American plc group (Incorporated in the Republic of South Africa) (Registration number 2005/015852/06) Share code: KIO ISIN: ZAE000085346 (“Kumba” or “the Company”) Trading statement for the six months ended 30 June 2026 Kumba is finalising its financial results for the six months ended 30 June 2026 (the period) and further information will be provided in the Company's Production and Sales Report for the period which will be released on the Stock Exchange News Service of the JSE (SENS) on 23 July 2026, and the Company’s financial results announcement for the period which will be released on SENS on 28 July 2026. The Company delivered a resilient operational performance during the period despite challenging operating conditions with the heaviest rainfall in many decades experienced at its operations during the second quarter. Total production was therefore 3% lower, reflecting a solid performance at Sishen offset by planned lower production at Kolomela. Sales volumes were 1% lower, largely due to the first of two planned 10-day Transnet logistics maintenance shutdowns in May 2026. Earnings before interest, tax, depreciation and amortization (EBITDA) were, however, negatively impacted by the rand strengthening by 11% to the US dollar and a marginally lower US dollar average realised free-on-board export iron ore price. In addition to this, the EBITDA was lower in the period under review due to a once-off payment from Transnet in relation to logistics performance which was received in the six months ended 30 June 2025 ( comparative period ). These factors account for approximately 96% of the movement in EBITDA. Consequently, EBITDA for the period is expected to be between R10,433 and R11,194 million, reflecting a decrease of between 30% and 35% from the comparative period. Reported EBITDA for the comparative period (released on SENS on 29 July 2025) was R15,991 million. Given this context, and in terms of paragraph 6.26 of the JSE Limited Listings Requirements , companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. Accordingly, shareholders are advised that headline earnings for the period are likely to be between R4,063 million and R4,360 million, a decrease of between 39% and 43% from the comparative period. Headline earnings per share (HEPS) are likely to be between R12.68 and R13.61, reflecting a decrease of between 39% and 43% f rom the comparative period. Reported headline earnings and HEPS for the comparative period were R7,141 million and R22.26, respectively. Basic earnings for the period are expected to be between R3,975 million and R4,265 million, reflecting a decrease of between 40% and 44% from the comparative period. Basic earnings per share (EPS) are expected to be between R12.41 and R13.31, a decrease of between 40% and 44% from the comparative period. Reported basic earnings and EPS for the comparative period were R7,112 million and R22.17, respectively. This anno uncement contains forward -looking statements which are based on the Company’s current beliefs and expectations about future events. The financial information contained in this announcement has not been reviewed and reported on by the Company's external auditors.
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Interim results presentation webcast The Company’s financial results announcement for the six-month period ending 30 June 2026 will be available on the Company’s website www.angloamericankumba.com at 07:05 CAT and the presentation will be available from 11:00 CAT on 28 July 2026. Johannesburg 21 July 2026 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) For further information, please contact: Company Secretary Fazila Patel fazila.patel@angloamerican.com Mobile: +27 83 297 2293 Investors Media Penny Himlok penny.himlok@angloamerican.com Mobile: +27 82 781 1888 Melangini Pillay melanini.pillay@angloamerican.com Mobile: +27 76 959 2019 Notes to editors: Kumba Iron Ore Limited, a member of the Anglo American plc group, is a leading value -adding supplier of high quality iron ore to the global steel industry. Kumba produces iron ore in South Africa at Sishen and Kolomela mines in the Northern Cape Province . Kumba exports iron ore to customers around the globe including in China, Japan, South Korea and a number of countries in Europe and the Middle East and North Africa region. www.angloamericankumba.com Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and crop nutrients – future-enabling products that are essential for decarbonising the global economy, improving living standards, and food security. Our portfolio of world -class operations and outstanding resource endowments offers value -accretive growth potential across all three businesses, positioning us to deliver into structurally attractive major demand growth trends. Our integrated approach to sustainability and innovation drives our decision-making across the value chain, from how we discover new resources to how we mine, process, move and market our products to our customers – safely, efficiently and responsibly. Our Sustainable Mining Plan commits us to a series of stretching goals over different time horizons to ensure we contribute to a healthy environment, create thriving communities and build trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for our shareholders, for the benefit of the communities and countries in which we operate, and for society as a whole. Anglo American is re -imagining mining to improve people’s lives. Anglo American is currently implementing a number of major structural changes to unlock the inherent value in its portfolio a nd thereby accelerate delivery of its strategic priorities of Operational excellence, Portfolio simplification, and Growth. The sale of our steelmaking coal and nickel businesses and the separation of our iconic diamond business (De Beers) continue to progress and, once completed, will focus Anglo American on its world-class resource asset base in copper, premium iron ore and crop nutrients. www.angloamerican.com
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Group terminology In this document, references to “Anglo American”, the “Anglo American Group”, the “Group”, “we”, “us”, and “our” are to refer to either Anglo American plc and its subsidiaries and/or those who work for them generally, or where it is not necessary to refer to a particular entity, entities or persons. The use of those generic terms herein is for convenience only, and is in no way indic ative of how the Anglo American Group or any entity within it is structured, managed or controlled. Anglo American subsidiaries, and their management, are responsible for their own day -to-day operations, including but not limited to securing and maintaining all relevant licences and per mits, operational adaptation and implementation of Group policies, management, training and any applicable local grievance mechanisms. Anglo American produces group -wide policies and procedures to ensure best uniform practices and standardisation across the Anglo American Group but is not responsible for the day -to-day implementation of such policies. Such policies and procedures constitute prescribed minimum standards only. Group operating subsidiaries are responsible for adapting those policies and procedures to reflect local conditions where appropriate, and for i mplementation, oversight and monitoring within their specific businesses. Disclaimer: This document has been prepared by Anglo American plc (“Anglo American”). By reviewing this document you agree to be bound by the following conditions. The release, presentation, publication or distribution of this document, in whole or in part, in certain jurisdictions may be restricted by law or regulation and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. This document is for information purposes only and does not constitute, nor is to be construed as, an offer to sell or the recommendation, solicitation, inducement or offer to buy, subscribe for or sell shares in Anglo American or any other securities by Anglo American or any other party. Further, it should not be treated as giving investment, legal, accounting, regulatory, taxa tion or other advice and has no regard to the specific investment or other objectives, financial situation or particular needs of any recipient. No representation or warranty, either express or implied, is provided, nor is any duty of care, responsibility or liability assumed, in each case in relation to the accuracy, completeness or reliability of the information contained herein. None of Anglo American or each of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwi se) for any loss or da mage of whatever nature, howsoever arising, from any use of, or reliance on, this material or otherwise arising in connection with this material. Forward looking statements This document includes forward -looking statements. All statements other than statements of historical fact included in this document may be forward-looking statements, including, without limitation, those regarding Kumba’s financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations, prospects and projects (including development plans and objectives relating to Kumba’s products, production forecasts and Ore Reserve and Mineral Resource positions), the anticipated benefits of mergers and acquisitions (including any assessment or quantification of potential synergies) and sustainability performance related (including environmental, social and governance) goals, ambitions , targets, visions, milestones and aspirations. Forward-looking statements may be identified by the use of words such as “believe”, “expect”, “intend”, “aim”, “project”, “anticipate”, “estimate”, “plan”, “may”, “should”, “will”, “target” and words of similar meaning. By their nature, such forward -looking statements involve known and unknown risks, uncertaintie s and other factors which may cause the actual results, performance or achievements of Kumba or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Kumba’s present and future business strategies and the environment in which Kumba will operate in the future. Important factors that could cause Kumba’s actual results, performance or achievements to differ materially from those in the forward -looking statements include, among others, levels of actual production during any period, levels of global demand and product prices, unanticipated downturns in business
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relationships with customers or their purchases from Kumba, mineral resource exploration and project development capabilities and delivery, recovery rates and other operational capabilities, safety, health or environmental incidents, the ability to id entify, consummate and integrate pending or potential acquisitions, disposals, investments, mergers, demergers, syndications, joint ventures or other transactions, the effects of global pandemics and outbreaks of infectious diseases, the impact of attacks f rom third parties on our information systems, natural catastrophes or adverse geological conditions, climate change and extreme weather events, the outcome of litigation or regulatory proceedings, the availability of mining and processing equipment, the ability to obtain key inputs in a timely manner, the ability to produce and transport products profitably, the availability of necessary infrastructure (including transportation) services, the development, efficacy and adoption of new or competing technology, challenges in realising resource estimates or discovering new economic mineralisation, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, liquidity and counterparty risks, the effe cts of inflation, terrorism, war, conflict, political or civil unrest, uncertainty, tensions and disputes and economic and financial conditions around the world, evolving societal and stakeholder requirements and expectations, shortages of skilled employees, unexpected difficulties relating to acquisitions or divestitures, competitive pressure s and the actions of competitors, activities by courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or maintenance of Kumba’s assets and changes in taxation or safety, heal th, environmental or other types of regulation in the countries where Kumba operates, conflicts over land and resource ownership rights and such other risk factors identified in Kumba’s most recent Annual Report. Forward-looking statements should therefore be construed in light of such risk factors, and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this document. Kumba expressly disclaims any obligation or undertaking (except as required by applicabl e law, rules or regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Kumba’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Nothing in this document should be interpreted to mean that future earnings per share of Kumba will necessarily match or exceed its historical published earnings per share. Certain statistical and other information included in this document is sourced from third party sources (including, but not limited to, externally conducted studies and trials). As such it has not been independently verified and presents the views of those third parties, but may not necessarily correspond to the views held by Kumba and Kumba expressly disclaims any responsibility for, or liability in respect of, such information. No Investment Advice This document has been prepared without reference to your particular investment objectives, financial situation, taxation position and particular needs. It is important that you view this document in its entirety. If you are in any doubt in relation to these matters, you should consult your stockbroker, bank manager, solicitor, accountant, taxation adviser or other independent financial adviser (where applicable, as authorised under the Financial Services and Markets Act 2000 in the UK, or in South Africa, under the Financial Advisory and Intermediary Services Act 37 of 2002 or under any other applicable legislation). Alternative Performance Measures Throughout this document a range of financial and non-financial measures are used to assess our performance, including a number of financial measures that are not defined or specified under IFRS (International Financial Reporting Standards), which are termed ‘Alternative Performance Measures’ (APMs). Management uses these measures to monitor the Company's financial performance alongside IFRS measures to improve the comparability of information between reporting periods and businesses. These APMs should be considered in addition to, and not as a substitute for, or as superior to, measures of fi nancial performance, financial position or cash flows reported in accordance with IFRS. APMs are not uniformly defined by all companies, including those in the Company’s industry. Accordingly, they may not be comparable with similarly titled measures and disclosures by other companies. ©Kumba Iron Ore Limited 2026. ™ and ™ are trade marks of Kumba Iron Ore Limited. ©Anglo American Services (UK) Ltd 2026. ™ and ™ are trade marks of Anglo American Services (UK) Ltd.