Merafe Resources Integrated Annual Report 2018

Safety statistics 2018 2017 2016 2015 2014 Fatalities 1 1 1 0 2 Total recordable injury frequency rate (TRIFR) 3.39 3.74 4.15 4.17 4.63 Cents 0 10 20 30 40 '18 '17 '16 '15 '14 8 21 27 36 14 % 0 5 10 15 20 25 30 '18 '17 '16 '15 '14 16 20 24 28 18 USC/1b 0 20 40 60 80 100 120 140 160 '18 '17 '16 '15 '14 119 96 131 142 107 R million 0 200 400 600 800 1 000 1 200 1 400 1 600 '18 '17 '16 '15 '14 306 501 478 1 400 956 Kilo tonnes 0 100 200 300 400 500 '18 '17 '16 '15 '14 334 393 407 395 377 0 1 2 3 4 '18 '17 '16 '15 '14 3.37 2.25 2.95 2.95 2.01 2.92 2.96 2.00 2.10 1.98 MWh per tonne of ferrochrome Tonnes of ore per tonne of ferrochrome Five-year historical review of key indicators Headline earnings per share EBITDA margin on revenue Average European benchmark ferrochrome price Cash generated from operating activities Attributable production tonnes Power and ore consumption efficiencies MERAFE RESOURCES INTEGRATED ANNUAL REPORT 2018 5