CONFIDENTIAL MONTHLY COMMERCIAL GM FORUM 14 May 2008

CONFIDENTIAL MONTHLY COMMERCIAL GM FORUM 14 May 2008

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 1

OBJECTIVES OF TODAY’s GM FORUM Working Draft - Last Modified 16. 05. 2008 12: 16: 14 • Review corporate accounts of Maersk, MSC, MOL and Toyota in detail and discuss key issues for other corporate accounts and reporting processes • Align on methodology to corporate account plan development Printed 13. 05. 2008 21: 05: 16 • Discuss high-level interaction routines between Group Commercial and ODs for non-corporate accounts • Agree on methodology and set-up of developing integrated pricing process and tools • Align on methodology to establish consistent contracting standards • Discuss any other urgent matters (e. g. , SPOs) Source: Team 2

RECAP – KEY TOPICS FOR TRANSNET’s COMMERCIAL TRANSFORMATION DEFINED Working Draft - Last Modified 16. 05. 2008 12: 16: 14 1 Leadership aspirations and convictions • Capturing increased share of wallet by accelerating volume growth • Delivering on the integrated promise Focus today 3 Capability building and actions F Upgrading commercial capabilities Ensuring cross-pollination of best practices 2 Commercial enabling elements A • Corporate account management and development D Market research C • Establish corporate contracting standards • Branding – corporate communications around E large events Printed 13. 05. 2008 21: 05: 16 B • Pricing processes and tools 4 Mindsets and behaviours • Group-level optimisation (e. g. , profitability) • Collaborative culture across ODs and with centre • Speeding up commercial decision making – ensuring commercial has a voice in Group decision making 5 Transformation • Clear mandates/roles and interaction routines/protocols between GC acceleration and ODs (including single point of contact for customer) as well as relevant corporate stakeholders Source: Commercial GM Workshop, 5/6 Mar 2008 3

RECAP – ROADMAP FOR TEAM COMMERCIAL FOR FY 08/09 DEFINED: FOCUS TODAY ON IMMEDIATE PRIORITIES 2008 Focus of today 2009 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar • Setting up of organisation • Corporate accounts – shaping integrated account management – Selection of 3 pilot accounts – Development of methodology – Development of integrated key account plans for pilot accounts – Roll-out of account planning methodology to other accounts – Dealing with priority issues for pilot accounts – Identification of FY 08/09 volume on priority corridors • Pricing – development of integrated pricing strategy and tool – Stocktaking of pricing processes in ODs – Project proposal for Ex. Co sign-off – Selection of 3 pilot accounts – Data collection for pilot accounts – Development of integrated pricing philosophy – Tool development for pilot accounts – Roll-out of tool to other corporate accounts • Capability building – set-up of capability building programme – Capability diagnostic – Capability building program definition – Roll-out of priority actions • Market research – institutionalisation of knowledge agenda – Review and consolidation of existing material – Publishing of consolidated materials (e. g. , self-serve intranet) – Development of customer insight/competitive intelligence agenda – Execution of knowledge agenda • Marketing – developing branding/advertising across Transnet – Alignment around large events – Stocktake of existing activities – Development of branding/advertising strategy – Execution of branding/advertising strategy • Contracting – establish standards – Collection and review of existing contracting standards – Proposal on structure/logic for contracts – Development of contracting standards – Implementation of contracting standards for corporate accounts Karl PF, ND, RN, TM, LN* Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Ravi Alignment with key stakeholders on proposal before Ex. Co submission required** Leslie Printed 13. 05. 2008 21: 05: 16 *According to allocation of accounts agreed in GM Forum on April 18 th Source: Team analysis Responsible Nosipho Thoba Lauriette Depends on speed of filling vacancies ** e. g. , Finance 4

SIGNIFICANT ACHIEVEMENTS SINCE LAST GM FORUM – SOME CRITICAL NEXT STEPS TO ENSURE ADHERENCE TO AGREED TIMELINES Critical issues Action required to keep timeline Progress in line with timeline Critical next steps • Development of SPOs for Team Commercial • Job grading key positions within GC (business enabling, corporate account mgmt) • Sign-off of SPOs • Final approval and advertising of positions Corporate account management • Methodology for account plan development • Synthesis of commodity insights* • Outline of high-level interaction routines for non-corporate accounts • Piloting standard process for reporting • Complete staffing of corporate account teams • Ensure adherence to reporting process • Project proposal to Ex. Co • Detailed stock-taking of pricing processes • Dedication of pricing resources in GC and ODs • Alignment meeting with key stakeholders** Marketing • First alignment meetings on Transnet representation at large events held • Ensure adequate preparation and participation Contracting • Project proposal and set-up • Kick-off with attorney teams • Kick off collection of existing contracts Pricing Source: Team analysis * Coal, iron ore, manganese ** e. g. , Finance Printed 13. 05. 2008 21: 05: 16 Setting up organisation Status Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Achievements by Team Commercial Action item 5

RECAP – DECISIONS AND IMMEDIATE NEXT STEPS AGREED IN LAST GM FORUM (1 OF 3) Focus today Action need Lead responsible Status Establishing GC • Creating greater awareness and buy-in for integrated commercial approach in ODs – OD Ex. Co presentations – Communiqué to broader commercial organisation • Karl/GMs • Paulo • All • Ongoing • Draft to be sent out Ongoing • All • Jobs graded • Testing drafted interaction routines for key commercial tasks for further update/review • Ensuring sufficient resource availability in ODs/at group level (e. g. , filling vacancies, advertising positions) Market research • Integrated perspective for corporate accounts – Interim sponsorships – Internal review sessions – Integrated account plan development for first set of accounts* • Aligning roles and responsibilities for noncorporate accounts • Aligning FY 08/09 priorities in priority corridors • Addressing ‘quick wins’ as soon as possible – Consolidation of existing material – Publishing of material on intranet • Paulo, Nosipho, • Ongoing Ravi, Thoba, Leslie • All* • Ongoing • Paulo • Kick-offs 19/20 May • Karl • Discussion today • Paulo • TFR priorities submitted, TPT tbd • Nosipho • Tbd *Anglo, Assmang, BHP Billiton Source: Team analysis 6 Printed 13. 05. 2008 21: 05: 16 Corporate account management Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Area

RECAP – DECISIONS AND IMMEDIATE NEXT STEPS AGREED IN LAST GM FORUM (2 OF 3) Area Capability building Contracting Lead responsible Status • Getting Ex. Co approval for pricing project – Preparation of stock-take, approach and roadmap for May Ex. Co – Selection of pilot accounts for tool – Gathering of data in ODs for pilot accounts • Ravi • Project proposal presentation today • Addressing 'quickwins' as soon as possible – Commercial talent mapping session in June (preparatory work during May) • Leslie • Prework requirements discussion today • Improving Transnet representation of large events as soon as possible – Durban July under leadership of Nosipho – Alignment meeting with relevant stakeholders on Friday, 25 April – Sports events/lounges to be included – SAPICS – participation by team • Thoba • Nosipho • Karl, Nosipho, Thoba • First alignment meetings held, outcome and participation not yet satisfactory • Gathering and reviewing current contracts for corporate accounts • Developing logic for establishing contracting standards • Lauriette • Thoba • Ravi Printed 13. 05. 2008 21: 05: 16 Branding and advertising Action need Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Pricing Focus today • Project set up and kicked off Source: Team analysis 7

RECAP – DECISIONS AND IMMEDIATE NEXT STEPS AGREED IN LAST GM FORUM (3 OF 3) Focus today Lead responsible Status Maersk corporate account review • Resolving operational challenge, in Nat. Cor Cop. Co – Shunting constraints in Pretoria and ring-fencing of wagons – Contingency plan for Nat. Cor load shedding – Communication of importance of new business to shop floor • Paulo • Not discussed in Nat. Cor Cop. Co meeting; update to be given today • Private sector participation – Investigation of current thinking and preparation of discussion • Shared commercial SPOs – Alignment on elements, weights and expectations • Lauriette • Tbd • All • Shared SPOs developed, final sign-off by CEs/GCE pending Other Printed 13. 05. 2008 21: 05: 16 Action need Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Area Source: Team analysis 8

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 9

OVERVIEW ON VOLUME REPORTING PER CORPORATE ACCOUNT Corporate accounts STATUS AS OF 05/08/08 APRIL 2008 REPORTING ODs TFR TPT TPipeline TNPA Next steps To be reviewed in detail today Above budget • Increase service and capacity on iron ore line Xstrata • Fix operational problems around coal line at TFR BHP Billiton • Fix operational problems around coal line at TFR Anglo • Solutions for capacity constraints at the rail/port interface Assmang • Operational improvements at the rail/port interface in PE PPC • Develop a customer relationship with PPC at TPT Sasol • Increase TFR capacity to meet weekly customer demand BP • Info sharing workshop on BP strategic plan and Transnet capex plans Total • Increase TFR capacity to meet weekly customer demand MSC • Increase TFR’s share of customer’s volume handled at TPT MOL • Build up a direct customer relationship at TFR with MOL Maersk • Increase TFR’s share of customer’s volume handled at TPT Shell • Increase profitability of main routes Toyota • Establish a formal agreement with Toyota Below budget Matching of data to account currently under review No business with account Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Arcelor. Mittal Printed 13. 05. 2008 21: 05: 16 Source: TFR, TPT, TPipeline, TNPA 10

REPORT FOR APRIL 08 MONTHLY REPORTING – MAERSK Key messages 1. Below budget Specific account challenges • Volumes and revenues exceed plan for both TFR and TPT • Good growth opportunity from rail superhighway project in Nat. Cor and other Above budget 2. 3. 4. 5. initiatives • Wagon turnarounds and delays have a negative business impact • Volume handled by TFR is less than 5% of volume handled by TPT • mthly meetings with customer, TFR and TPT in place Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Plans (full year)* Budget YTD 2007/08 YTD Key projects Rm • Containers 87. 37 85. 40 73. 05 877. 44 1 040. 60 • Other 12. 34 - 5. 93 - 99. 71 85. 40 78. 99 877. 44 1 040. 60 Conversion from road-transport to rail superhighway project to triple Nat. Cor volumes June 2008 TFR/Bilqees Essa 2. PE ringfence initiative to ensure bi-directional traffic PE to Pretoria TBD Bilqees Essa Optimise berthing slots to improve profitability at TPT 2008/09 TPT/John Hyde 4. Optimised solution for empty containers and legs TBD Coastal CTOC pilot project TBD Sidney Bird/Bilqees Essa - Total Owner 5. I. Revenues Deadline 3. 2012/13 revenue II. Volume** TFR • Other GFB*** Total 62. 300 60. 350 38. 188 TBD 2008/09 negotiations 0 - - 1. Agreements in place 62. 300 • Containers 60. 350 38. 188 TBD • Main agreement ends 31 March 2009 (TFR). Price increases 6% on rail rates for 2008/09 key negotiation object. TPT • Superhighway 2008/9 to 2010/11 (agreement with TFR and TPT). Customer has agreed on • Containers GFB*** Total 1. 323. 375 - - 1. 335. 988 • Other 1. 335. 988 1. 323. 375 rates. SLA being amended for additional volumes (7500 TEU), implementation of SLA from 1 June in progress 1. 268. 188 16. 661. 000 19. 759. 125 - - - 2. Monthly meetings with TFR, TPT and customer 1. 268. 188 16. 661. 000 19. 759. 125 *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC Alignment on standard volume reporting definition required 11 Printed 13. 05. 2008 21: 05: 16 Objective/impact 1. 2009/10 Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Wagon supply, turnaround times and train delays hamper service delivery and potential to take advantage of export volume growth Restructuring within customer has resulted in negotiation difficulties Ensuring MAERSK’s understanding of the CT Operations Contract service offering Impact of CT terminal expansion project during process Empty rail top-up service not being fully utilised by customer

REPORT FOR APRIL 08 MONTHLY REPORTING – MSC Above budget Below budget Key messages Specific account challenges • Volumes and revenues exceeding plan despite underlying capacity and 1. Capacity challenges at CTCT during terminal expansion program, which may impact CT Operations Contract Profitability of BMW business being addressed by bi-directional cargos’ ex-customer Turnaround times on wagons in Gauteng impact BMW, also train cancellations during peak demand 2. 3. Working Draft - Last Modified 16. 05. 2008 12: 16: 14 profitability issues. TFR volumes only 10% of volume handled by TPT • Rail capacity/effectiveness and reliability of berthing slots schedule are threats to continued success • Terminal expansion program needs careful management during project Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Plans (full year)* Budget YTD 07/08 YTD Key projects Objective/impact I. Revenues II. Volume in Volume** TFR • Containers • Other GFB*** Total TPT • Containers • Other GFB*** Total Owner Optimisation of berthing slots and schedule 2008/09 TPT/John Hyde/BUE’s 2. Address BMW cargo contract/cost savings across ODs 2008/09 TFR Intermodal sector 3. Effective solution for empty wagons and the creation of a buffer close to port for flexibility of wagons turnarounds 2008/09 TFR operations/ TPT Sidney Bird/BUE’s 92. 63 0 80. 06 0 84. 83 0 687. 30 0 809. 90 0 9. 09 - 7. 75 - - 101. 72 80. 06 92. 58 687. 30 809. 90 112. 825 0 75. 500 0 94. 438 659 TBD TBD 112. 825 75. 500 95. 097 TBD 1. 281. 950 - 1. 187. 500 - 1. 175. 750 13. 352. 263 15. 734. 188 - 1. Contract expires March 2009. • Rates for 2008/09 have been accepted (TFR) • Negotiation objectives are to sustain and grow current volumes • Improve profitability and minimise discount for empty containers transported • Cape Cor Price increases to be negotiated by operations 2. Negotiations on transshipment complete, empty top has been implemented on 1 April 1. 281. 950 1. 187. 500 1. 175. 750 13. 352. 263 15. 734. 188 3. Performance measurement implemented and SLA to be signed by end May 2008 Printed 13. 05. 2008 21: 05: 16 in Rm • Containers • Other GFB*** • Other revenue Total Deadline 1. 2009/10 2008/09 negotiations during test at DCT (TPT) *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 12

REPORT FOR APRIL 08 MONTHLY REPORTING – MOL Above budget Below budget Key messages Specific account challenges • Business with MOL ahead of plan. Opportunity appears to be for growth in rail 1. 2. 3. 4. Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Plans (full year)* Budget YTD 07/08 YTD 2009/10 Service migrations from Durban Container Terminal to CTCT may negatively impact performance especially due to temporary capacity problems during CTCT terminal expansion project. NATCOR service top-up of empty rail capacity to be addressed Difficult to grow rail use beyond empty containers service due to intermediaries in the negotiation process (TFR) Backlog with customers and TPT on cars Working Draft - Last Modified 16. 05. 2008 12: 16: 14 volumes, through cooperation of TFR/TPT to improve empty containers’ uptake. • Additional growth may not be easy to achieve, given limited resources on customer side, along with the fact that the customer negotiates via intermediaries. Key projects 2012/13 in Rm • Containers • Automotive • Other 21. 42 0. 02 4. 57 16. 82 - 16. 07 0. 16 4. 29 211. 39 - 261. 44 - Total 26. 00 16. 82 20. 52 211. 39 0 0 TBD - - 400 0 0 TBD 369. 538 291. 350 297. 588 3. 660. 763 4. 527. 400 TBD - 291. 350 297. 588 3. 660. 763 TPT/John Hyde/ODs 2. Optimal solution design to address empty containers and growth of volumes for TFR 2008/09 TPT/Sidney Bird, - 369. 538 2008/09 TBD - Improve berthing slots’ reliability 261. 44 400 Owner 1. I. Revenues Deadline 4. 527. 400 revenue TFR Bilqees Essa II. Volume in Volume** TFR • Containers • Other GFB*** Total TPT • Containers • Automotive Total 2008/09 negotiations 1. 2. 3. 4. Contract expires on 31 March 2009 (TFR) Grow volumes dramatically along with simultaneous rate increase Empty top-up service offering to be implemented April 08 at Pier 1 on trial basis Transshipment agreement is complete *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 13 Printed 13. 05. 2008 21: 05: 16 Objective/impact

REPORT FOR APRIL 08 MONTHLY REPORTING – TOYOTA Key messages 1. 2. 3. Below budget Specific account challenges • Transport volume handled by TPT has almost doubled compared to last year, Above budget 4. Toyota wants to outsource specific services to rail; capacity for that is still limited Conversion of existing wagons to Toyota specifications and update of staging areas necessary An inland terminal will be developed at Isipingo that is in close proximity to the Toyota plant and vehicle distribution centre Upgrade of the Kaalfontein Rail facility is critical to the success of the automotive project Working Draft - Last Modified 16. 05. 2008 12: 16: 14 however volume transported by TFR is 50% below budget and even 20% less than last year. Reason is a bottleneck in suitable wagons on TFR site • Future projects’ focus on increasing market share on Point to Kaalfontein route for import units and Isipingo to Point route for export units • Contract (i. e. , amended Heads of Agreement (HOA) is envisaged to be signed by 16 May 2008 Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Plans (full year)* Budget YTD 07/08 YTD 2009/10 Key projects Objective/impact I. Revenues Deadline Owner 1. 2012/13 Export shuttle service (Isipingo-Point) June 08 Transnet collaboration 2. Domestic service – Isipingo to Kaalfontein: Additional capacity creation at Isipingo. 31 July 2008 Transnet collaboration 3. Import service – Point to Kaalfontein: Increase market 31 July 2008 share Transnet collaboration in Rm • Automotive 100. 41 110. 40 3. 39 - 0. 60 - - 16. 66 10. 98 100. 41 110. 40 7. 460 14. 648 9. 281 TBD - - - TBD 14. 648 9. 281 TBD 24. 483 24. 830 14. 688 345. 818 - - 24. 483 24. 830 14. 688 345. 818 II. Volume in Volume** Printed 13. 05. 2008 21: 05: 16 10. 38 7. 460 revenue Total 16. 66 15. 55 • Other 12. 16 TFR • Automotive • Other GFB*** Total TPT • Automotive • Other GFB*** Total 2008/09 negotiations 1. Contract under discussion for the new contracting period • Rates for 2008/09 agreed • HOA Contract will be signed by 16 May 2008 380. 243 *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 14

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 15

GOING FORWARD, FOLLOWING FOUR GUIDELINES IS CRITICAL FOR TIMELY COMPLETION OF REPORTS FOR OPCO AND GM FORUM • Assistance by contact persons at ODs in clarification of open questions concerning delivered data Jul • Enables GC to clarify issues on reported data, understand consolidate account snapshots • Compliance to agreed reporting timeline • Enables GC to deliver account snapshots to ‘account champions’ in advance to discuss issues and improve quality • Usage of reporting template format when providing the data Jun • Enables GC to identify relevant contact persons in ODs and to quickly reach out to them • Ensures availability of all important information • Avoids ambiguities in interpretation of data 19 20 21 22 23 24 25 26 27 28 29 30 Printed 13. 05. 2008 21: 05: 16 • Provision of contact details of relevant persons at ODs who provide data and assist GC in understanding reported data May Rationale Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Requirement Source: Team analysis 16

'ACCOUNT CHAMPIONS' (AC) SHOULD BE INVOLVED IN SUBMISSION OF OPCO REPORT WELL IN ADVANCE Working days before Op. Co meeting Responsible 2 3 10 4 6 5 0 1 Sending reports to GC 7 2 Consolidation of report data Group Commercial (GC) 3 Clarification of account issues between ODs and GC 1 5 5 Review of document by ACs 6 6 Alignment and improvements of reports according to input of ACs Account champions (AC) 7 Final compilation of reports and submission of reports to Op. Co 8 Op. Co Printed 13. 05. 2008 21: 05: 16 4 Compilation of account snapshots and submission of reports to ACs 3 ODs Working Draft - Last Modified 16. 05. 2008 12: 16: 14 15 9 8 Compilation of Op. Co report 9 Op. Co meeting Source: Team 17

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 18

RECAP – INTEGRATED ACCOUNT PLANNING WILL BE THE FOUNDATION FOR SUCCESSFUL CORPORATE ACCOUNT MANAGEMENT II Execute plan I Plan account a Strategic b Transactional/ day-to-day III Review account IV Reinforce account management through relationships Subtasks IIa • Conceptualise/ detail deals • Negotiations • Implement of operational improvement levers • Ramp up targeted volume growth • Strategic crisis management IIb • Day-to-day account management (CRM) • Day-to-day customer service • Proactive crisis management III • Internal performance reviews (mthly/ quarterly) • Customer satisfaction review (annually) IV • Manage formal relationships – Top management – Transactional – Day-to-day customer service • Direct marketing *Including volume growth, pricing, operational improvements Source: Team analysis 19 Printed 13. 05. 2008 21: 05: 16 I • Develop and align integrated key account plans* Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Main tasks Current focus

RECAP – DEVELOPING INTEGRATED PLANS FOR CORPORATE ACCOUNTS IS AN IMMEDIATE PRIORITY FOR TEAM COMMERCIAL SPOs 2008/09 of Group Executive Commercial Roadmap for establishing GC Weights Timeline – Effective commercial execution and pricing • Organisation approved and staffed • Commercial function established 20% • Develop integrated account plans for corporate accounts, including – Volume growth plans – Consistent contracting – Customer engagement – Reporting – Ensuring implementation of plans 50% Phases Setting up for success • Oct 2008 for urgent accounts**, Jan 2009 for other accounts • Create a pricing framework 30% • Develop and implement an integrated pricing tool for selected pilot corporate accounts Similar SPO structure for commercial GMs Shaping corporate accounts 20 Jun-19 Sep (3 months) 21 Apr-20 Jun (2 months) • Development of consistent Time 18 Feb-11/18 Apr pricing strategy line (1. 5 months) • Execution of and tool across interim ODs for 3 Focus • Setting up GC organisation accounts – Organisasetup/filling (including tional in for corporate conceptual design account foundations, – Interim executives for 4 data gathering, operating accounts* tool model with • Roadmap and ODs plan for shaping programming) • Training a all identified • Developing group of corporate and facilitating practitioners 2 GM accounts across ODs workshops that can roll out the tool Filling positions within GC * Depending on nature of support required, i. e. , consolidation of reports/information vs leading role in corporate account management (including account planning and execution) **i. e. , Assmang, Arcelor. Mittal, BHP, Anglo (including Kumba), Xstrata Source: Team analysis 20 Printed 13. 05. 2008 21: 05: 16 Performance indicators Working Draft - Last Modified 16. 05. 2008 12: 16: 14 SPOs Integrating pricing

RECAP – LAUNCHING CORPORATE ACCOUNT PLANNING HAS BEEN AGREED AT LAST GM FORUM Current focus Status • Ensure interim interaction routines for Sasol are followed in wagon PPP deal • All stakeholders; led by TFR • Ongoing • Conduct monthly account reviews according to schedule/process (including classification of ongoing projects) • GC • Commercial GMs • Ongoing • Develop and implement approach for integrated key account plans for first set of 3 corporate accounts* • GC • Ongoing • Identify and secure resources for developing integrated account plans for first set of 3 corporate accounts* • GC • Commercial GMs • Open • Identify FY 08/09 volume targets for corporate accounts in priority corridors • GC • TFR data submitted, TPT tbd Printed 13. 05. 2008 21: 05: 16 Lead responsibility Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Immediate actions needed *Anglo, Assmang, BHP Billiton Source: Team 21

INTEGRATED ACCOUNT PLANS ARE KEY TO ENABLING VOLUME GROWTH ACROSS CORRIDORS Working Draft - Last Modified 16. 05. 2008 12: 16: 14 • Create transparency and alignment on key account performance and customer requirements across all ODs • Enable prioritisation of operational activities and capital investments to unlock volume growth Printed 13. 05. 2008 21: 05: 16 • Facilitate key account management on group level (e. g. contact/relationship management) as well as rapid identification of burning issues at accounts • Increase level of confidence in Transnet on customer side and catalyse future demand investments Source: Team analysis 22

SIGNIFICANT COMMERCIAL CAPABILITIES WERE BUILT AT TFR THROUGH ROLL-OUT OF KEY ACCOUNT PLANS. . . EXAMPLE TFR Key success factors Steps of the roll-out approach Phase 1 Phase 2 6 5 5 2 11 2 2 Pilot 12 1 Phase 3 tbd Phase 1 Phase 2 Capabilities built Hours invested by sales department 2 500 TFR drives process Pilot 2 300 Phase 1 Phase 2 Printed 13. 05. 2008 21: 05: 16 Duration in wks Number of accounts covered Consultant support Pilot Working Draft - Last Modified 16. 05. 2008 12: 16: 14 TFR managers trained Business covered In percent of general freight Pilot Phase 1 Phase 2 Source: Team analysis 23

. . . WITH SIGNIFICANT IMPACT ON TFR’s WAY OF DOING BUSINESS With key account plans Without key account plans • Key functions working within silos • Limited alignment between commercial and other functions Organisational Source: Team analysis • Basis for cross-functional key account management • Key enabler for adopting “logistics consultant” mindset towards customers • Crucial skills built within key account management (e. g. , asking the ‘right’ questions) • Common language across ODs/sectors Printed 13. 05. 2008 21: 05: 16 Functional • ‘Ad hoc’ or ‘order taking’ mindset within SAM • Different concepts/methodologies applied by different account managers Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Topical • Limited (formalised) transparency on • Detailed (formalised) understanding customer’s needs, strategy, etc. ; of accounts and the customers’ knowledge/experience often lost strategies during job changes • Ability to speak “about customer’s industry with authority” • Weak linkages between budgeting • Basis for improved linkages between processes, capital planning and critical planning and strategic account management processes • Basis for alignment of commercial department with entire organisation based on set – Volume targets – Customer strategies • Engine for divisional integration • ODs developing different directions at different speeds Even higher SAM effectiveness possible with less involvement in daily TFR operations 24

VIDEO Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Printed 13. 05. 2008 21: 05: 16 Source: Team analysis 25

FIVE DESIGN PRINCIPLES SHOULD BE USED TO FOCUS ACCOUNT PLAN DEVELOPMENT ON MOST IMPORTANT ASPECTS PILOT PHASE Working Draft - Last Modified 16. 05. 2008 12: 16: 14 “Focus” Restrict analysis to priority commodities on priority corridors “Common ground across ODs” Surface drivers and prerequisites for volume growth* and harmonize scenarios across ODs rather than harmonising the budget processes “Work with what we have” Use existing profitability data as basis to calculate flow profitability across ODs rather than revising existing data Printed 13. 05. 2008 21: 05: 16 Five guiding principles “No operational problem solving” Focus on surfacing and prioritising both short-term and longer-term* issues rather than detailed operational solution development “No product development” Identify need for new services and areas of growth in existing services rather than developing concrete new services *5 -year horizon Source: Team 26

INTEGRATED KEY CORPORATE ACCOUNT PLAN CAN BE BROKEN DOWN IN FOUR SUBCHAPTERS 1 Introduction/overview 2 • Volume validation • Where to grow (profitability analysis) • How to grow (additional volume growth levers) Source: Team analysis 4 Printed 13. 05. 2008 21: 05: 16 Evaluation Company background Industry background Account situation Current plans/ likely developments Working Draft - Last Modified 16. 05. 2008 12: 16: 14 • • • Executive summary • Strategic goals • Performance dashboard • Action list 3 Stock-taking Implementation • Action prioritisation • Action list • Organisational • dependencies • Roadmap and milestones Account plan template prepared 27

INTRODUCTION PROVIDES A HIGH-LEVEL 1 OVERVIEW OVER CURRENT PERFORMANCE, STRATEGIC GOALS AND CURRENT ACTIONS • Provides a high-level overview of the account plan • Summarizes key messages • Strategic account goals • Highlights strategic account goals for Transnet and provides guiding framework for account development – Sets strategic perspective for account – Helps to prioritise key initiatives across all ODs – Defines key performance indicators across all ODs • Performance dashboard • Provides overview on current account performance across ODs – Revenue/volume KPIs – Status and KPIs for key projects • Action list • Summarises key actions, responsibilities and timelines for collection and tracking Printed 13. 05. 2008 21: 05: 16 • Executive summary Source: Team analysis Description Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Item Introduction chapter to be used in Cop. Co/executive meetings 28

STOCK-TAKING PROVIDES AN OVERVIEW 2 OVER THE CUSTOMER AND THE CURRENT ACCOUNT SITUATION • Summarises key customer information required for account management, e. g. , – Strategy and organisation/decision structure – Production capacity and sites – Supply-chain analysis • Industry background • Highlights key industry dynamics affecting customer's strategy and performance, e. g. – Commodity market analysis – Competitive dynamics – Sources of competitive advantage • Account situation • Summarises current account situation, regarding, e. g. , – Volume and price developments – Relationship matrix – Codified issues related to account – Estimated logistics market share • Current plans/likely developments • Provides overview on current expansion/closure plans as well as collaboration projects • Serves as basis for volume validation in next chapter Printed 13. 05. 2008 21: 05: 16 • Company background Source: Team analysis Description Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Item Understanding of customer and account situation required as basis for strategic account development 29

EVALUATION CHAPTER DEVELOPS A VIEW 3 ON FUTURE VOLUME SCENARIOS AND OPPORTUNITIES FOR GROWTH Description • Develops 3 scenarios for 5 -year evolution of volume demand based on customer and industry background • Reconciles volume scenarios with customer's stated volume growth expectations and current plans • Where to grow • Analyses flow profitability of strategic commodities on priority corridors to derive recommendations on prioritisation and future pricing negotiations • How to grow • Analyses potential levers to grow volume • Serves as potential source of new service ideas Printed 13. 05. 2008 21: 05: 16 • Volume validation Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Item Critical exercise to provide a validated volume growth forecast consistent across ODs and to surface growth areas Source: Team analysis 30

4 IMPLEMENTATION CHAPTER SUMMARISES AND PRIORITISES ACTIONS • Prioritises actions based on impact and feasibility • Action list • Summarises key actions for GC and ODs, including responsibilities and due dates • Organisational dependencies • Summarises organisational dependencies • Serves as basis to develop endorsement plan with all relevant stakeholders • Roadmap and milestones • Summarises key actions and highlights milestones Printed 13. 05. 2008 21: 05: 16 • Action prioritisation Source: Team analysis Description Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Item Chapter also provides transparency on key actions across ODs and serves as tracking tool 31

TIMELINE TO COMPLETE FIRST STRATEGIC DEVELOPED IN LINE WITH SPOs – ACCESS TO RESOURCES AND FOCUS CRITICAL Apr 17 May 18 19 Jun 20 21 22 23 24 25 Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Activities OD-specific Integrated view • Finalise methodology • Stock-taking – Within ODs – Within corridors • Volume validation • How to grow – Identify levers – Align all corridors and operations Printed 13. 05. 2008 21: 05: 16 • Where to grow Resources and adequate time commitments required • Action prioritisation and alignment • Organisational dependencies • Roadmap and timeline Focus required - TFR account planning for one account took 6 wks Source: Team analysis 32

ACCOUNT PLAN METHODOLOGY AND SEVERAL STOCK-TAKE ELEMENTS HAVE ALREADY BEEN COMPLETED Description Account plan methodology • Case examples to demonstrate potential analyses • Best-practice elements from TFR key account planning • Detailed approach and working mode defined • Aggregated data from Group Strategy, ODs and external sources Source: Team analysis 33 Printed 13. 05. 2008 21: 05: 16 Commodity insights • Detailed insights into coal, iron ore and manganese market – Global demand development – South African production and demand development – Current investment projects in SA – Price developments Working Draft - Last Modified 16. 05. 2008 12: 16: 14 ü • Structured templates on all relevant account plan aspects

THREE CROSS-DIVISIONAL CORPORATE ACCOUNT TEAMS TO BE SET UP FOR NEXT TWO MONTHS Team Total FTEs** • Account interim sponsor (6 hrs/wk) • 1 Consultant (full-time) • Key account manager for Minerals and mining (16 hrs/wk) • Key account manager Minerals and mining (16 hrs/wk) 1. 2 • TFR key account planning expert (8 hrs/wk) 0. 6 TPT • Key account manager Minerals and mining (16 hrs/wk) 1. 2 TNPA* • Salesperson/customer manager (4 hrs/wk) 0. 3 • Customer manager (4 hrs/wk) 0. 3 TFR *Lighter involvement; participation required to build capabilities for rollout to other accounts and develop joint perspective on corporate accounts **Full time equivalent Source: Team analysis 3. 0 Printed 13. 05. 2008 21: 05: 16 • Customer manager (4 hrs/wk) Level of TRE involvement tbd T-Pipelines* 0. 45 Working Draft - Last Modified 16. 05. 2008 12: 16: 14 GC Additional support from operations/corridors and OD senior leadership required 34

WORKING ROUTINE OF CORPORATE ACCOUNT TEAM ENSURES INTENSIVE COLLABORATION Working routine Introduction/ Stock-taking Weekly 2 x per wk End of first wave • Interim account sponsor • Share information/align findings • Monitor progress within ODs • Identify cross-divisional opportunities One-on-one discussion (per OD) • Discuss issues in detail with account responsible • Challenge findings • Provide support* Meetings with senior management • Discuss urgent issues and concerns • Align with management on status and findings Review and rollout Printed 13. 05. 2008 21: 05: 16 2 x per mth Corporate account team meetings • OD team members collect background information • Group Strategy provides commodity insights • Explain process to OD team members Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Beginning GMs to be present • OD Commercial GMs • Interim account sponsor • Intense discussions and process description • Review process and identify improvement areas • Train account managers of next set of accounts *Provided by either GC, TFR experts or consultants Source: Team analysis Discussions to be held in person and via telephone/video conference 35

IMMEDIATE NEXT STEPS Responsible • Finalise corporate account team staffing • GMs and GC • Set up corporate account team and senior • GC Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Action item management meetings • Corporate account team Printed 13. 05. 2008 21: 05: 16 • Collect and consolidate stock-take information – Industry background – Company background – Current account status Focus of first working team meeting • Identify main drivers for volume scenarios • Corporate account team Source: Team analysis 36

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 37

RECAP – FOUR KEY TASKS FOR ACCOUNT MANAGEMENT DEFINED II Execute plan I Plan account a Strategic b Transactional/ day-to-day III Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Main tasks Review account IV Reinforce account management through relationships Subtasks IIa • Conceptualise/ IIb • detail deals • Negotiations • Implement • of operational improvement levers • • Ramp up targeted volume growth • Strategic crisis management Day-to-day account management (CRM) Day-to-day customer service Proactive crisis management III • Internal performance reviews (mthly/ quarterly) • Customer satisfaction review (annually) IV • Manage formal relationships – Top management – Transactional – Day-to-day customer service Printed 13. 05. 2008 21: 05: 16 I • Develop and align integrated key account plans* • Direct marketing *Including volume growth, pricing, operational improvements Source: Team analysis 38

ROLE OF GROUP COMMERCIAL DEPENDS ON NATURE OF CUSTOMERS' INTERACTION WITH TRANSNET AND THEIR SIZE (1/2) "Big & complex" (e. g. , Bidvest) Non-strategic customers (smaller accounts) "Corporate Accounts" (e. g. , Anglo) "Rising stars" (e. g. , UMK) Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Strategic customers (large accounts) Already defined "Business as usual" (e. g. , Harmony) "Big@one" (e. g. , ESKOM) Nature of Transnet interaction • Intensive single • Intensive • Smaller account • Regular Role of Group Commercial • Provide support • Coordinate • Execute • Assist in • Support in crisis OD customer relationship to ODs in dealing with major account issues OD customer relationship • Partner/compet itor relationship with other OD(s) across Transnet and provide integrated view to aid in building multi. OD customer relationships multi-OD customer relationships integrated corporate account management with potential to become strategic customer (e. g. , through expansion plan) building deep strategic relationships • Ensure top management attention relationship with OD(s) management Source: Team analysis 39 Printed 13. 05. 2008 21: 05: 16 Customer group

ROLE OF GROUP COMMERCIAL DEPENDS ON NATURE OF CUSTOMERS' INTERACTION WITH TRANSNET AND THEIR SIZE (2/2) GC’s role along Account Management Process Non-strategic customers (smaller accounts) Planning – Consulted Informed – Strategic execution – Informed – • Strategic crisis mgmt Consulted Informed IIb Day-to-day execution – – Routines already defined Informed – – III Reviewing – – IV Relationship building Informed Consulted – Customer group I IIa Source: Team analysis "Corporate Accounts" (e. g. , Anglo) "Rising stars" (e. g. , UMK) "Business as usual" (e. g. , Harmony) Printed 13. 05. 2008 21: 05: 16 "Big@one" (e. g. , ESKOM) "Big & complex" (e. g. , Bidvest) Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Strategic customers (large accounts) Routines detailed in updated Interaction Routine Manual 40

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 41

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 42

CONTRACTING STANDARDS ARE KEY TO LOWER RISK EXPOSURE AND TO CAPTURE VALUE Elements Transnet’s situation today • No template for service level agreements or contracts in place, individual design on OD level • Different units in Transnet deal with regulatory issues (Public Policy Regulation Unit, Group Legal, Group Compliance), coordination in monthly meetings with all ODs Penalties/ incentives • Systematic setting of penalties in some accounts, no application in others • Loading/offloading time incentives set for some accounts Consistent payment mechanisms Source: Team Printed 13. 05. 2008 21: 05: 16 Standards for compliance with regulation Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Standards for legal terms FOR DISCUSSION • Payment processing handled individually by each OD, no consistent payment policy for customers High risk exposure and potential loss of revenues 43

COMMERCIAL CONTRACT DATABASE PROJECT AIMS AT ENFORCING CONTRACTING STANDARDS Phase 3 Phase 2 Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Phase 1 • Gathering of all relevant legal documents concerning the 14 corporate accounts at ODs • Review of all contracts in place and scrutinisation of legal terms included Key deliverables • Database with all relevant contracts for corporate account • Detailed review document of current status of legal customer relationship per corporate account • Contract templates specifying standard legal terms according to different business environment Timeline • By June 15 • By end of June • By end of September* *Not including signing of contracts by corporate accounts Source: Team analysis • • • Standardisation of salient terms of contracts Printed 13. 05. 2008 21: 05: 16 Activities Project driven by Vanessa Wilson (GC) Sponsored by Lauriette Modipane Consulted by external attorneys Support from ODs, Group Legal 44

SUPPORT FROM ODs TO COMPILE ALL RELEVANT CUSTOMER AGREEMENTS CRUCIAL FOR SUCCESS May Activities 18 19 Jun 20 21 22 23 24 25 26 Involved • Team Commercial Phase 1 – Legal advisors • External attorneys – Commercial and operations GMs • ODs • Group Legal • Set up of contract database* • GC • ODs • Review OD contracts Phase 2 • GC • External attorneys • Prepare interim report • External attorneys • Workshop with legal experts of ODs • Team Commercial • External attorneys Printed 13. 05. 2008 21: 05: 16 • Brief attorneys Phase 3 • Prepare final report for GM commercial • Preparation of contracting templates – Detailed activities to be discussed • Phase 3 to be finished by end of September • Detailed timeline to be discussed *Gathering all formal and informal agreements with corporate accounts from ODs Source: Team Commercial • Team Commercial Working Draft - Last Modified 16. 05. 2008 12: 16: 14 • Engage involved persons Responsible • • Group Legal Group Finance Customers External attorneys 45

A CONTRACT TEMPLATE DEFINES STRUCTURE AND FORMAT OF AGREEMENTS WITH CUSTOMERS Parties (3 rd party guarantor/surety) 2. Definitions and recitals (factual background) 3. Basic rights and obligations 4. Precedent conditions (e. g. , ministerial approvals) 5. Performance measures/standards 6. Pricing reviews 7. Payments, incentives and penalties 8. Warranties, indemnities and protections 9. Limitations on liability Printed 13. 05. 2008 21: 05: 16 1. Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Typical sections of a commercial agreement 10. Conflicts and dispute resolutions 11. Confidentiality and notices 12. Other terms and conditions (terminations, expiry, extensions cancellations, etc. ) Source: Team analysis 46

STANDARD CLAUSES IN SECTIONS ARE ADAPTED ACCORDING TO INDIVIDUAL REQUIREMENTS Obligatory terms – Integral part of every contract, 1 independent of specific business environment (e. g. , confidentiality, breach, termination, etc. ) Printed 13. 05. 2008 21: 05: 16 • Individual regulatory environment • Differences in parties’ bargaining power • Different services provided to customer (e. g. , freight transportation vs property provision) • Different customer and commodity segments . . . therefore three type of clauses can be identified Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Detailed design of clauses depends on business environment, . . . ILLUSTRATIVE Terms depending on business environment – Standard terms that are included depending on the 2 specific business environment (e. g. , take or pay obligation, capacity allocation, etc. ) Individually designed terms – Legal terms that are included for specific business environments and 3 adjusted specifically, depending on business environment (e. g. , specific volume calculations, harbour regulations, etc. ) Source: Team analysis 47

CASE EXAMPLE – A CONTRACTING TEMPLATE ENSURES COMPLIANCE WITH CONTRACT TERMS ACROSS ALL BUSINESS UNITS ILLUSTRATIVE Authorisation . . . 2 Risk exposure management • Quarterly input cost recovery agreement in place to offset costs incurred by changes in customer requirement • . . 3 Legal terms • Total liability from any customer claims not to exceed purchase price of product in question • . . 4 Other basic terms and conditions • 20% order cancellation penalty in place • 30 -day notice necessary to renew contract • . . . Compliance Printed 13. 05. 2008 21: 05: 16 1 Price setting and adjustments • Non-negotiable, quarterly formula-based price escalation mechanisms in place • . . . Contract terms Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Reason for noncompliance All BUs require . . . either compliance or justification and authorisation for non-compliance Source: Mc. Kinsey (case example from chemical industry) 48

SETTING OF CONTRACTING STANDARDS IS MANAGED AND LED BY CONTRACTING MANAGER AT GROUP COMMERCIAL Task • Cooperation with Group Legal to set legal contracting standards • Cooperation with Group Compliance, Public Policy Regulation Unit and legal department of ODs to align on regulatory issues • Cooperation with Group Finance to discuss consistent penalty mechanisms • Cooperation with ODs, Group Finance and Group Risk Printed 13. 05. 2008 21: 05: 16 • Establish risk management ground rules • Define service level agreement templates Working Draft - Last Modified 16. 05. 2008 12: 16: 14 1 Establish corporate standard for contracting • Define standards for legal terms • Define standards for compliance with regulation • Define penalty mechanisms Process • Cooperation with ODs and Group Legal 2 Establish consistent payment mechanisms • Cooperation with Group Finance in determining consistent payment policy (e. g. , early payment discount) 3 Consult ODs for customer- specific contract issues • Contracting manager (CM) as first person to contact for ODs when dealing with customer contracts Source: Team 49

ESTABLISHING CORPORATE CONTRACTING STANDARDS – DETAILED ROUTINES Role Sub-tasks Group commercial OD Other Interaction routines Enabler • Define standards for • Lead • _ • Group Legal: • GC to elaborate • _ • Define standards for • Lead • Input • Group Legal: • GC to define standards Y R • _ • Establish corporate legal terms compliance with regulation mechanism responsibility review A N I Review • Public Policy Regulation unit – input • Lead responsibility standard legal terms; design standard contracts and circulate them within organisation for compliance with regulation and compile report • Consulted • Group Finance • GC to develop overall • _ M I L penalty mechanism • Establish dispute • Lead • _ • Group Legal – • GC to define standards • _ • Establish risk manage- • Lead • _ • Group risk – Input • GC to define standards • _ • Define service level • Lead • Input • Group Legal • GC to coordinate service • _ • Group Finance, • GC to define consistent • _ • GC to consult ODs at Printed 13. 05. 2008 21: 05: 16 • Define penalty responsibility Working Draft - Last Modified 16. 05. 2008 12: 16: 14 standards for contracting • _ resolution guidelines ment ground rules agreement templates responsibility E R responsibility P • Establish consistent payment • Lead • Consult ODs at customer- • Consultation mechanisms specific contract issues responsibility • _ Review Group Legal – • input _ for dispute resolution for risk management rules level agreements between customers and ODs payment mechanism customer-specific contract issues Source: Team 50

TRANSNET CASE EXAMPLE – SINGLE CONTRACT HAS BEEN DESIGNED FOR MANGANESE CHANNEL CUSTOMERS Outcome • Standardisation of contracting terms for all customers using the manganese channel • Standard contract will be signed with all customers on manganese channel by June 2009 • Customers currently reviewing proposed contract Printed 13. 05. 2008 21: 05: 16 • Separate contracts for TPT and TFR with Assmang and Samancor • Complex contract structure (main agreement with annexures and OD-specific capex agreements) • No contract with customers formally signed • New customers demand capacity on manganese channel • TFR, TPT, GC and Group Legal standardised contract by – Reviewing existing main agreement and annexures – Drafting standard contract with specific annexures for ODs • Process stretched over the last 4 months, involving frequent meetings with representatives of TFR and TPT (operation specialists, key account managers), Group Legal and external attorney Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Initial situation • Buy-in from ODs crucial for success of project • Going forward, involvement of all ODs in process to be ensured Source: Team analysis 51

AGENDA FOR THIRD GM FORUM – MAY 14 Topics Lead 08 h 00 -08 h 30 • Welcome: Recap from last meeting and today’s objectives Karl 08 h 30 -13 h 30 • Corporate account management 08 h 30 -09 h 30 -09 h 45 – Detailed account review: MSC, Maersk, MOL, Toyota Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Timing Nosipho Tea break – Detailed account review (continued) Nosipho 10 h 45 -11 h 15 – Critical issues for other corporate accounts and reporting process Other sponsors 11 h 15 -12 h 00 – Integrated account planning Paulo 12 h 00 -13 h 00 -13 h 30 Printed 13. 05. 2008 21: 05: 16 09 h 45 -10 h 45 Lunch break – Interaction routines for non-corporate accounts Karl 13 h 30 -14 h 15 • Pricing – Approach and roadmap going forward Ravi 14 h 15 -15 h 00 • Contracting – Approach to harmonising contract terms Lauriette 15 h 00 -15 h 15 Tea break 15 h 15 -16 h 00 • Other Karl 52

OTHER TOPICS FOR DISCUSSION TODAY Next steps • SPOs for Team Commercial • Draft prepared for GMs, GC business enablement • Disseminate GM SPO drafts • Align and sign off GM SPOs • Prepare SPOs for GM direct reports • Preparation for talent mapping session • Preparation ongoing • Align on preparation requirements • Communication to broader commercial organisation – Memo – Pamphlet – GC intranet • Draft memo ready • Send out memo to Team Commercial for feedback • Prepare sample pamphlet • Prepare concept for GC intranet (based on best practices) Potentially use a GM Forum slot in June to present Team Commercial to broader commercial team Printed 13. 05. 2008 21: 05: 16 Status Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Topic Source: Team analysis 53

BACKUP Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Printed 13. 05. 2008 21: 05: 16 54

PRIORITY CORRIDORS COVER TRANSPORT VOLUME OF PILOT ACCOUNTS TO ALMOST 100% Demand budget 08/09 TFR, MV* Pilot accounts Assmang Richards Bay Sishen. Saldanha Cape. Cor Nat. Cor Sentra hub Coverage of total account volume in % BHP • BHP • Ingwe • Samancor Manganese Coverage of total corridor volumes in % 7. 22 2. 57 0. 38 0 99 20. 47 29. 88 0. 29 0 0 99 20. 20 - - - 29. 64 - - - 0. 27 0. 24 0. 29 - - 0 2. 55 0 0 0. 33 - - 23. 00 - - - 2. 55 - - 46 84 42 6 0 Printed 13. 05. 2008 21: 05: 16 • Anglo coal • Kumba • Scaw - 23. 34 Anglo Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Corridors 99 *Volume with origin in specific corridor Source: TFR demand budget; Team analysis 55

TEMPLATE FY 2008/09 BUDGET OF CORPORATE ACCOUNTS FOR PRIORITY CORRIDORS ‘ 000 Volume***, budget FY 08/09, volume allocated by origin Nat. Cor R’bay. Cor Anglo* TPT TFR-GFB TFR-Coal Sentra. Cor TPT TFR Grand Total Sishen. Saldanha TPT TFR-Iron All other TPT TFR 18 773. 47 463. 91 0 30 340. 29 49 577. 67 Assmang 380. 78 0 4 146. 04 0 6 213. 63 10 740. 45 Arcelor. Mittal 390. 54 3 092. 33 5 620. 21 36. 86 0 9 139. 94 0 22 486. 72 2 558. 42 459. 91 0 25 505. 05 260. 46 0 97. 53 24. 98 0 382. 96 25. 63 0 . 73 8. 03 0 34. 39 MOL 0 0 0 MSC 25. 92 0 14. 00 20. 62 0 60. 54 PPC 0 439. 99 1 311. 74 0 485. 73 2 237. 41 Sasol 27. 73 86. 07 6. 53 4 357. 58 0 4 477. 91 Shell 204. 50 0 191. 45 0 0 395. 94 Total 141. 09 3 657. 55 42. 28 10. 49 0 3 851. 41 Toyota 110. 88 0 0 110. 88 Xstrata 166. 10 15 220. 85 0 0 0 15 386. 95 1 733. 63 63 756. 91 14 452. 84 4 918. 47 37 039. 66 121 901. 49 BHP Billiton** BP Maersk Grand total *Kumba, SCAW Metal, Anglo Coal ** Ingwe, Samancor Manganese *** Calculated with a conversion factor of 1 TEU = 12. 5 t; 1 automotive = 1. 5 t; 1 t=1 Volume; 1000 lkm/(transport distance)=1 Volume Source: TFR Printed 13. 05. 2008 21: 05: 16 0 TPT Working Draft - Last Modified 16. 05. 2008 12: 16: 14 TFR Cape. Cor 56

REPORT FOR APRIL 08 MONTHLY REPORTING – ASSMANG Key messages 1. Below budget Specific account challenges • Targets achieved for both volumes and revenue, in terms of manganese • The new 104 x 14 rail service introduced on 21 March 2007 and enhanced Above budget 2. 3. 4. 5. to address the capacity problems and to improve turnaround times Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Plans (full year)* Budget YTD 07/08 YTD Key projects 2012/13 I. Revenues in Rm • Iron ore • Manganese • Other GFB*** • Other revenue Total II. Volume in Volume** TFR • Iron ore • Manganese • Other GFB*** Total TPT • Iron ore • Manganese • Other GFB*** Total 33. 01 51. 63 7. 54 33. 51 45. 51 9. 17 33. 91 43. 27 9. 04 117. 42 36. 60 30. 90 142. 24 41. 83 45. 14 2. 42 - 1. 36 - - 94. 60 88. 19 87. 57 184. 92 493 716 219 449 53 429 530 700 219 108 63 694 TBD TBD TBD 765 401 766 594 813 502 TBD 662 950 307 218 30 674 649 162 152 058 44 945 744 983 213 270 30 951 1 000 842 846 165 Owner Capacity expansion at the Port of PE to 4. 2 Mtpa Aug 08 TPT/Projects/ Commercial 2. Improved train turnaround times (from 13 to 10 days) 2010 TFR 3. Improved service delivery at RCB Multipurpose Terminal Jul 08 TPT 4. Review of contractual arrangements and standardise Jul 08 GC 5. Increased rail capacity to SLD Terminal Sept 08 Leon Broom 229. 21 484 416 242 514 38 471 Deadline Printed 13. 05. 2008 21: 05: 16 Objective/impact 1. 2009/10 989 204 12 317 296 14 911 047 9 593 296 11 621 047 2 100 000 2 400 000 624 000 890 000 Working Draft - Last Modified 16. 05. 2008 12: 16: 14 port efficiencies improved capacity on manganese export channel • Iron ore is slightly below budget in terms of revenue. Projects are underway Capacity challenges for both TPT and TFR Port of PE, especially with the introduction of the new service – Turnaround times, empty leg, driver training, reliability of the terminal, wagon shortages. Rail/Port interface and turnaround times in Port Work stoppage at Cato Ridge furnace due to explosion negatively impacted on volumes Stockpile management at PE, RCB and SLD terminals Possible relocation of PE terminal to Nqgura to be considered, pending feasibility study 2008/09 negotiations • Key negotiation objectives: Manganese – No tariff increases with introduction of 104 x 14 service – 10% tariff increase would apply for 1 July 2008 to 30 June 2009 • Key negotiation objectives: Chrome – Average weighted price increases coupled with volume commitment • Negotiations concluded at RCB. Tariff increases of 10. 4% with a one year contract to secure market share *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 57

REPORT FOR APRIL 08 MONTHLY REPORTING – ARCELORMITTAL SA Key messages Above budget Below budget Specific account challenges • In total, revenue is slightly above budget, with coal above and iron ore below 1. 2. 3. 4. 5. 6. 38 class loco reliability (taxi coal service) Crew constraints in Klerksdorp and loco shortages in Newcastle and Vryheid Coal shortages at Leeuwpan and Tshokondeni mines Reliability of loading equipment at Richards Bay bulk terminal Erratic shipping patterns affecting coal imports Maintenance of operational efficiency at SLD Multipurpose terminal Working Draft - Last Modified 16. 05. 2008 12: 16: 14 budgets • Iron ore expansion project will add capacity of 2 mt by 2015 Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Plans (full year)* Budget YTD 07/08 YTD Key projects 2012/13 I. Revenues in Rm • Coal • Iron ore • Other GFB*** • Other revenue Total II. Volume in Volume** TFR • Coal • Iron ore • Other GFB*** Total TPT • Other GFB*** Total 104. 76 72. 29 36. 75 94. 63 81. 63 38. 50 84. 76 84. 64 34. 08 TBD 141. 49 TBD 148. 68 1. 73 - 2. 19 - - 215. 53 214. 76 205. 67 141. 49 148. 68 737 093 459 063 148 676 704 057 519 100 171 589 681 580 556 988 184 718 TBD TBD TBD 1 394 746 1 423 286 TBD 1 344 832 205 207 318 210 247 540 3 470 000 Deadline Owner Stabilise iron ore train service to 27 trains/wk July 08 TFR 2. Iron ore expansion project - Add 2 mt by 2015 May 08 TFR 3. Improved supply chain management and joint planning TBD TFR 4. Migration of cargo from Durban to Richards Bay from 1/4/08 May 08 TPT 5. Improved cargo handling facilities at RCB MPT June 08 TPT 6. Plant refurbishment at RCB Oct 08 TPT 7. Improved service to meet operational customer requirements Oct 2008 Oct 08 TPT 2008/09 negotiations • Contract expiry date: 31 March 2009 (TFR) • Key negotiation objectives – Introduce wagon delay charges to correct behaviour – Introduce market related prices and 3 650 000 Printed 13. 05. 2008 21: 05: 16 Objective/impact 1. 2009/10 incentives for add volumes railed – Minimise current storage arrangements • Focus capital spent within supply chain • Negotiation status – TFR settled on 17. 5% weighted average on 10 March 2008 – RCB DBT: 30% tariff adjustment; KZN Terminals: 15% with reduced storage arrangements; – SLD MPT: 10% adjustment *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 58

REPORT FOR APRIL 08 MONTHLY REPORTING – PPC Above budget Below budget Key messages Specific account challenges • Both revenue and volumes transported are well below budget • PPC not regarded as strategic customer by TPT and is being serviced on an 1. 2. 3. 4. 5. Working Draft - Last Modified 16. 05. 2008 12: 16: 14 ad-hoc basis • TFR is pursuing optimisation initiatives and generating new business • Higher input costs have forced PPC to raise prices twice this year Significantly reduced demand reported by customers Power outages at Pyramid South area experienced by TFR Cable thefts around Central Reef Unplanned work on rail line Customer loading delays at Dwaalboom Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Budget YTD Plans (full year)* 07/08 YTD Key projects 2012/13 I. Revenues in Rm 11. 33 11. 68 11. 98 TBD • Other 20. 60 30. 44 21. 34 7. 43 5. 24 Total 31. 93 42. 12 33. 32 7. 43 Deadline Owner New business – Batsweledi production expansion (additional revenues of R 124 m) May 08 TFR 2. Optimise – Riebeeck West production expansion (additional revenues of R 11 m) Oct 08 TFR 3. Optimisation plans (additional revenues of R 70 m) Oct 08 TFR 5. 24 GFB*** Printed 13. 05. 2008 21: 05: 16 • Coal Objective/impact 1. 2009/10 II. Volume in Volume** TFR • Coal 63 363 80 195 82 810 TBD • Other 261 541 299 539 277 687 TBD Total 324 904 379 734 360 497 TBD • Other 0 15 000 0 170 000 120 000 Total 0 15 000 0 170 000 120 000 GFB*** TPT GFB*** 2008/09 negotiations • Contract expiry dates – 30 September 2008 (TFR) – No contract with TPT • Key negotiation objectives – Acquisition of new business – Improvement of account profitability • Negotiation status – TFR has negotiated 12. 7% increase, whilst TPT will be applying standard noncontract tariffs – Signing of new TFR contract imminent *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 59

REPORT FOR APRIL 08 MONTHLY REPORTING – ANGLO Key messages 1. Below budget Specific account challenges • Volume and revenue budget for iron ore and coal not met in April, however Above budget – – – Increased coal transport demand by customer cannot be met due to Stockpile and storage facilities limited at some sidings Limited loading capacity (ship/port interface) Non-sequential arrival of wagons at the siding complicates loading process Working Draft - Last Modified 16. 05. 2008 12: 16: 14 volume transported increased compared to previous year • Transport volume is limited due to loading capacity constraints both at Richards Bay and Sishen Saldanha ports • Current projects therefore focus on increasing the wagon capacity and improving turnaround time at the TFR/TPT interface Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Budget YTD Plans (full year)* 07/08 YTD Key projects 2012/13 I. Revenues 75. 79 136. 91 7. 11 11. 05 93. 76 139. 68 6. 08 10. 09 79. 37 98. 05 6. 28 13. 71 TBD 330. 66 TBD 3. 23 TBD 330. 66 TBD 3. 46 230. 86 249. 61 197. 40 333. 89 1 627 480 2 842 103 32 023 58 599 1 496 905 2 356 808 33 953 84 541 TBD TBD 3 945 080 4 560 205 3 972 206 TBD 2 792 466 0 2 375 838 0 1 819 864 31 978 953 84 000 0 90 000 2 792 466 2 375 838 Owner Increase wagon capacity to improve tonnage throughput June 08 Samuel M 2. Reduce loading times to maximum 12 hours per train July 08 Samuel M 3. Improve turn-around time to 7 days September 08 Gaff M 4. Optimal and effective supply chain solution aligned to customer capacity demands June 08 Leon Broom (corridor team) 334. 12 1 397 956 2 438 494 34 555 74 075 Deadline 1 819 864 32 062 953 32 068 953 Printed 13. 05. 2008 21: 05: 16 in Rm • Coal • Iron ore • Manganese • Other GFB*** Total II. Volume in Volume** TFR • Coal • Iron ore • Manganese • Other GFB*** Total TPT • Iron ore • Other GFB*** Total Objective/impact 1. 2009/10 2008/09 negotiations*** • Contract expiry date (TFR) – 31 March 2009 • Negotiation status and next steps • Key negotiation objectives** (TFR) – Contract negotiation concluded – Improve Revenue to cost ratio (RCR) to 120% – 14% increase achieved for 2008/09 – The contract signed by customer and back with Transnet for signature *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 60

REPORT FOR APRIL 08 MONTHLY REPORTING – BHP BILLITON Key messages 1. Below budget Specific account challenges • Above budget 2. 3. 4. 5. 6. Account KPIs (based on TFR and TPT reports) Insufficient quality of service pertaining the handling of cargo in RCB and PE terminal (concerns about current terminal maintenance) Overall rail/port capacity constraints for PE/Durban terminal (limited stockpile, high TAT) Locomotive shortage in Postmasburg Service deviations lead to shift of raw material from rail to road Non-sequential arrival of domestic and export coal wagons affects loading time in RCB Possible relocation of PE terminal to Nqgura to be considered, pending feasibility study Key projects Current performance Plans (full year)* Actual YTD 2009/10 Budget YTD 07/08 YTD Objective/impact Owner 1. 2012/13 Deadline Improvement service level delivery and quality of service at RCB/PE terminal July 08 Malusi Mpanza, Nandi Oliphant, Viktor Mkhize, Hector Danisa 2. Operational improvements at TFR (Increase wagon capacity, reduce loading time and improve TAT) June 08 Samuel M, Gaff M 3. Expansion of manganese channel at TFR (additional 9, 135 t per wk) By 2015 I. Revenues in Rm Coal Manganese Other GFB*** 76. 45 46. 57 14. 98 115. 39 41. 52 21. 84 94. 03 35. 13 18. 36 TBD 34. 86 158. 99 TBD 36. 60 163. 95 • Other revenue 1. 77 - 1. 98 - - 139. 78 178. 75 149. 51 193. 85 200. 56 Total 2008/09 negotiations*** II. Volume in Volume** TFR • Coal • Manganese • Other GFB*** Total Coal (TFR) 1 423 132 231 027 17 047 2 082 999 218 488 37 727 1 828 992 197 845 39 814 TBD TBD TBD 1 671 206 2 339 214 2 066 650 TBD 122 181 312 204 110 111 401 941 106 111 401 789 1 999 936 4 768 600 2 089 936 4 768 600 512 052 507 900 6 768 536 Manganese (TFR) Contract expiry date • 31 March 2009 • P. E Exports – 30 June 2008, • Samancor (Metalloys) and Durban – 31 March 2008 31 March 2009 Key objectives • • Maintain RCR at 133% Achieve 14% increase for contract period 08/09 Contract negotiation concluded and implemented • P. E export price increase 10% • (Transnet Mandate) and • average of 10. 6% for other flows Customer has accepted tariff • increase for Samancor • (Metalloys) and Durban flows Ensure 8. 5% adjustment Retain market share TBD 434 385 Total TPT • Manganese • Other GFB*** SAE Printed 13. 05. 2008 21: 05: 16 • • • 6 858 536 Negotiation • status • TPT • Working Draft - Last Modified 16. 05. 2008 12: 16: 14 • • Transport volume in April exceeding budget for manganese but falls 30% below coal budget. Operational problems and structural constraints, mainly on TFR site, limit transport volume of coal Manganese volume handled by TPT is only half of the volume transported by TFR Current projects focus on increasing the quality of service level at terminals and improving the handling time at the TFR/TPT interface Negotiations concluded for RCB Tariff increase of 10. 4% achieved for RCB with a 1 year contract to secure market share P. E tariff negotiations not yet concluded *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 61

REPORT FOR APRIL 08 MONTHLY REPORTING – XSTRATA Above budget Below budget Specific account challenges • Transport volume for coal falls 30% below coal budget. Operational problems 1. 2. 3. and structural capacity constraints limit transport volume of coal • Current projects focus on increasing the quality of service level at terminals and improving the handling time at the TFR/TPT interface Load shedding affects export volume of Xstrata Additional capacity at the RCB is required (e. g. , stockpiling facilities) Customer satisfaction with quality standards in handling cargo at ports requires improvement Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Plans (full year)* Budget YTD 07/08 YTD Key projects Objective/impact I. Revenues in Rm 52. 98 79. 46 70. 10 TBD • Other 21. 98 19. 48 16. 94 46. 53 0. 15 - - - 98. 93 87. 04 46. 53 TBD 2. Operational improvements at TPT (improving Turnaround August 08 Time (TAT) of wagons and round vehicles) Ensuring stringent quality standards in handling cargo at ports 46. 53 TBD Samuel M, Gaff M - 75. 11 July 08 46. 53 • Other Operational improvements at TFR (increase wagon capacity, reduce loading time and improve TAT) TBD GFB*** revenue Total June 08 Victor Mkhize Printed 13. 05. 2008 21: 05: 16 • Coal Owner 3. 2012/13 Deadline 1. 2009/10 Victor Mkhize II. Volume in Volume** TFR • Coal • Other GFB*** Total 991 848 94 236 1 086 084 1 369 819 1 316 698 90 865 79 056 1 460 684 1 395 754 TBD TPT 2008/09 negotiations Coal (TFR) Contract • 31 March 2009 expiry date Manganese (TFR) • 31 March 2009 • Maintain RCR at 130% • Ensure 8. 5% adjustment • Achieve 13% increase for contract period 08/09 • Maintain market share Negotiation • Contract to be signed by 9 June 2008 as it is • Concluded with 11% tariff ad- • Other 84 000 66 910 95 716 900 000 Key objectives Total 84 000 66 910 95 716 900 000 status GFB*** singed in London, UK Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Key messages justment obtained for 2008 -09 *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 62

REPORT FOR APRIL 08 MONTHLY REPORTING – SASOL Specific account challenges • Coal and Liquid Bulk volumes and revenues are well below plan. Revenues 1. 2. 3. Below budget rescued by unplanned handling of other commodities some by TPT • Customer demand exceeds wagon capacity at TFR • Nat. Cor challenges and reliability of tank wagons hamper account development 4. 5. 6. No operations of customer during wkends Nat. Cor challenges re capacity to match demand & volumes. Train cancellations and delays. weekly customer demand exceeds TFR empty wagon capacity. Late placement of empties at load points Reliability of tank wagons – leaking valves and incorrect capacity stenciling Availability of additional chemical & ammonia wagons Sasol not regarded as strategic customer by TPT and is being serviced on an ad-hoc basis Account KPIs (based on TFR and TPT reports) Current performance Budget YTD 07/08 YTD 2009/10 Objective/impact Deadline Owner Imported ULP – (additional revenues of Rm 25) July 2008 A. E. Dave Cloke 2. Jet Fuel to Joburg ORT – (additional revenues of Rm 4) July 2008 A. E. Dave Cloke 3. Block Load Working – Efficiencies/TAT/Capacity (additional revenues of Rm 29) June 2008 A. E. Dave Cloke/Fuel Sector 4. March 2009 Fuel Sector Exit HSA business to TFR Depots – Avails capacity of 1, 500 m 3 5. Public Private Partnership for Sasol wagons and containers April 2008 (additional revenues of Rm 316) Johan Fourie 6. Migration of cargo from Durban Bulk Terminal to Multipurpose Terminal in Richards Bay Warren Vickers & Malusi Mpanza 2012/13 I. Revenues in Rm • Coal • Liquid bulk • Other GFB*** • Other revenue Total II. Volume in Volume** TFR • Coal • Liquid bulk • Other GFB*** Total TPT • Liquid bulk • Caol • Other GFB*** Total 13. 05 4. 98 27. 96 16. 00 5. 38 25. 47 20. 79 5. 13 20. 96 TBD 6. 62 TBD 7. 64 1. 01 - 0. 62 - - 47. 00 46. 85 47. 50 6. 62 7. 64 259 779 30 021 105 679 294 367 31 647 130 863 413 136 33 187 109 588 TBD TBD TBD 395 479 456 877 555 911 TBD 0 0 34 418 0 0 0 9 311 0 0 130 000 0 0 150 000 34 418 0 9 311 130 000 150 000 July 2008/09 negotiations 1. 2. 3. TFR Liquid Bulk contract expires March 2009. Other TFR commodity contracts also expire March 2009. Negotiation Objectives: Average increase of tariffs by 10% to align RCR 120% and volume commitments. 2008/09 Bulk rates implemented. TFR Fuel contract negotiation complete – 9% increase on profitable routes, 15% on Durban. Secunda. TPT negotiation complete with 15% tariff adjustment. *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 63 Printed 13. 05. 2008 21: 05: 16 Key projects 1. Actual YTD Plans (full year)* Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Key messages Above budget

REPORT FOR APRIL 08 MONTHLY REPORTING – TOTAL SA Specific account challenges • • • 1. Below budget Revenue and volumes are well below both budget and previous year to date. Capacity constraints and train/wagon inefficiencies hinder operations wkend loading by customer to be encouraged 2. 3. 4. Nat. Cor challenges regarding capacity to match demand & volumes. Train cancellations and delays. Customer does not work wk-ends weekly customer demand exceeds TFR empty wagon capacity. Late placement o empties at load points Reliability of tank wagons – leaking valves and incorrect capacity stenciling Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Budget YTD Plans (full year)* 07/08 YTD Key projects Objective/impact 2012/13 I. Revenues II. Volume in Volume** TFR • Coal • Liquid bulk • Other GFB*** Total TPT • Coal • Liquid bulk • Other GFB*** Total Owner Pipeline slippage Island View Storage – Bethlehem/Ladysmith. Impact R 11. 6 mil June 2008 A. E. Dave Cloke 2. Block Load working – efficiencies, improved TAT/capacity R 11. 6 mil as above June 2008 A. E. Dave Cloke 3. Exit HAS business to TFR Depots –avails capacity of 1, 500 m 3 March 2009 A. E. Dave Cloke 14. 41 5. 40 0. 25 16. 62 6. 22 0. 71 16. 47 5. 41 0. 28 TBD TBD TBD 20. 06 23. 56 22. 16 TBD 286 909 27 049 446 312 320 34 717 1 686 330 245 34 367 545 TBD TBD TBD 314 403 348 723 365 158 TBD 1. 2. 0 0 0 0 3. 0 0 0 Printed 13. 05. 2008 21: 05: 16 in Rm • Coal • Liquid bulk • Other GFB*** Total Deadline 1. 2009/10 Working Draft - Last Modified 16. 05. 2008 12: 16: 14 Key messages Above budget Fuel Sector 2008/09 negotiations Contract expires 31 March 2009 (TFR) Key negotiations aligned to RCR of 120%, volume commitments and wkend loading agreed. Siding upgrades to handle increased volumes to take place. Negotiations completed, 2008/09 rates implemented. *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 64

REPORT FOR APRIL 08 MONTHLY REPORTING – BP Above budget Below budget Key messages Specific account challenges • TFR has reported a slight increase in revenue and volumes compared to the 1. 2. 3. Main routes not profitable Pricing on priority services to be revisited Schedules for new prices to be concluded shortly Working Draft - Last Modified 16. 05. 2008 12: 16: 14 budget • Main routes are not profitable - this aspect is being dealt with in collaboration with customer, whilst pricing issues are also being addressed. Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Budget YTD Plans (full year)* 07/08 YTD 2009/10 Key projects Objective/impact 2012/13 in Rm • Liquid bulk GFB*** Total 13. 89 8. 82 TBD 0. 90 0. 87 0. 55 TBD 2. TFR Monitoring TFR • IVS to Zambia (Rm 2. 304) TBD Sept 2008 • Matola to Waltloo (Rm 1. 152) – Implemented Jan 08 TBD Sept 2008 TFR Block trains to be implemented on all routes (36 tankers with 36 000 litres each) TBD TFR Collaboration on the following routes: 16. 99 14. 76 9. 36 TBD 54 109 53 537 39 863 TBD 1 238 1 631 1 081 TBD 2008/09 negotiations 55 347 55 168 40 944 TBD • Liquid bulk 0 0 0 • Other 0 0 0 • Contract expiry dates (TFR) – 31 March 2009 • Key negotiation objectives – Re-priced and aligned sector prices per commodity per flow – Increased profitability per commodity and account for 2008/09 Total 0 0 Printed 13. 05. 2008 21: 05: 16 • Other 16. 08 Owner • Island View Storage (IVS) to Waltloo (Rm 2. 304) 1. I. Revenues Deadline 0 II. Volume in Volume** TFR • Liquid bulk • Other GFB*** Total TPT GFB*** *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume ***Besides the strategic commodities (Coal, iron ore, manganese, automotive, containers, liquid bulk) Source: TFR, TPT, GC 65

REPORT FOR APRIL 08 MONTHLY REPORTING – SHELL Above budget Below budget Key messages Specific account challenges • TFR has reported a slight underperformance in revenue compared to the 1. 2. 3. Main routes not profitable Pricing on priority services to be revisited Schedules for new prices to be negotiated Working Draft - Last Modified 16. 05. 2008 12: 16: 14 budget. Volumes, however, was marginally above the budget • Main routes are not profitable - this aspect is being dealt with in collaboration with customer, whilst pricing issues are also being addressed Account KPIs (based on TFR and TPT reports) Current performance Actual YTD Budget YTD Plans (full year)* 07/08 YTD Key projects Objective/impact 2012/13 in Rm 12. 37 12. 95 10. 56 TBD Total 12. 37 12. 95 10. 56 TBD 58 866 56 785 51 990 TBD Total 58 866 56 785 51 990 TBD • Liquid bulk 0 0 0 Total 0 0 TFR Sept 2008 TFR TBD • Liquid bulk Sept 2008 Collaboration on the following routes: 0 Printed 13. 05. 2008 21: 05: 16 • Liquid bulk Owner • IVS to Witbank 1. I. Revenues Deadline • Island View Storage (IVS) to Alberton 2009/10 II. Volume in Volume** TFR TPT 2008/09 negotiations • Contract expiry dates (TFR) – 31 March 2009 • Key negotiation objectives – Re-priced and aligned sector prices per commodity per flow – Increased profitability per commodity and account for 2008/09 *No applicable data available from TFR **1 t = 1 Volume; 1 TEU = 12. 5 Volume; 1 automotive = 1. 5 Volume; 1000 l = 1 Volume Source: TFR, TPT, GC 66