• Reliability and completeness

Key observations:

Kumba Iron Ore provides an in-depth analysis of the material risks and opportunities facing the company. It details how the company is assessing specific risk considerations, such as mitigating catastrophic risks, monitoring emerging risks and committing resources to realising opportunities. It also uses a risk heat map to rate its top 10 residual risks. For each principal risk, in accordance with paragraph 4.23 of the <IR> Framework, Kumba Iron Ore communicates the root causes and impact on value, outlines mitigating actions and sets out the future outlook. Kumba Iron Ore adopts a holistic approach by showing how relevant strategic focus areas, key enablers and capitals are related to the various principal risks.