INTEGRATED ANNUAL REPORT 2012

Think Future. Think Aluminium. Think Hulamin.

DIRECTORS’ STATEMENT OF RESPONSIBILITY AND APPROVAL of the annual financial statements

The directors are responsible for the preparation and integrity of the annual financial statements of the company and the group, which have been prepared in accordance with International Financial Reporting Standards and applicable legislation, under the supervision of the Chief Financial Officer, Mr C D Hughes
CA (SA).

In preparing the financial statements, the company and the group have used appropriate accounting policies, supported by reasonable and prudent judgement and estimates, and have complied with all applicable accounting standards. The directors are of the opinion that the financial statements fairly present the financial position of the company and the group at 31 December 2012 and the results of their operations for the year then ended. The directors have considered the group’s past results, expected future performance and reasonable changes thereto, and access to its funding, material and other resources, and are of the opinion that the company and the group will continue as a going concern.

The directors are responsible for the systems of internal control. These are designed to provide reasonable, but not absolute, assurance as to the reliability of the financial statements, to adequately safeguard, verify and maintain accountability of assets, and to prevent and detect material misstatement and loss.

Based on the results of a formal documented review of Hulamin’s system of internal controls and risk management by the internal audit function during the year, the information and explanations given by management and the comment by the independent auditors on the results of their statutory audit, nothing has come to the attention of the directors which indicates that, in all material aspects, Hulamin’s system of internal controls and risk management are not effective and that the internal financial controls do not form a sound basis for the preparation of reliable financial statements. The opinion of the directors is supported by the Audit Committee.

The company’s independent external auditors, PricewaterhouseCoopers, have audited the financial statements and their unqualified report appears here.

The annual financial statements were approved by the board of directors on 21 February 2013 and are signed on its behalf by:

Mafika Mkwanazi
Chairman

Pietermaritzburg, KwaZulu-Natal

Richard Jacob
Chief Executive Officer

21 February 2013