Protea eximia or the broad-leaved sugarbush copes well with diverse environmental challenges without too much difference in its appearance, apart from some colour variation. The bud in picture may have been damaged somewhat by harsh weather.
P. eximia used to be called P. latifolia and also P. auriculata at various stages of its botanically recorded history (among yet more early names). Eximia means illustrious or distinguished in Latin; latifolia means broad leaved; auriculata means ear-shaped; different features highlighted by different name-givers.
The prevailing name option is determined via orderly conventions including the publication dates of naming documentation and not by the aptness of the descriptive features chosen by the different naming parties (Vlok and Schutte-Vlok, 2010; Coates Palgrave, 2002; Eliovson, 1973).