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Business model and strategic objectives

2

Nature of business

3

Approach and reporting framework

6

Key facts

7

Business illustrated

8

Vision, mission and values

10

Financial highlights

11

Operating structure

14

Strategic objectives

14

Three income streams

15

Material impacts and risks

16

Business ethics

21

Leadership

22

Board of Directors

22

Senior Management

28

Chairman’s report

30

Conversation with Joint Chief Executive Officers

34

Governance

40

Governance framework

40

King III summary

47

Governance of risk

51

Compliance report

53

Stakeholder relations

54

Remuneration report

64

Audit, Risk and Compliance Committee report

69

Social, Ethics and Transformation Committee report

73

Operating performance

74

Operational overview

74

Value added statement

85

Social practices

86

Human capital

90

Health and safety responsibility and practices

92

Assurance report

93

Financial performance

96

Financial Director’s report

96

Prominent notice

106

Statement of directors’ responsibility

107

Approval of the financial statements

107

Declaration of Company Secretary

108

Directors’ report

109

Independent auditors’ report

113

Group statement of financial position

114

Group statement of comprehensive income

115

Group statement of changes in equity

116

Group statement of cash flows

118

Notes to the Group annual financial statements

119

Company statement of financial position

226

Company statement of comprehensive income

227

Company statement of changes inequity

228

Company statement of cash flows

230

Notes to the Company annual financial statements

231

Shareholders’ information and administration

258

Notice of Annual General Meeting and proxy

258

Glossary

272

Administration

279