WAKEFILD COLLIERY SOUTH AFRICA LIMITED

WAKEFILD COLLIERY SOUTH AFRICA LIMITED: WAKEFIELD Colliery Pty Ltd was engaged by the shareholders of Wakefield Colliery (Wakefield) to prepare an Independent Technical Review (ITR) of the technical inputs to the life of mine (LOM) plan and inputs to the financial model of Wakefield Colliery. Wakefield Colliery has declared an Opencast and Underground mineable tonne in situ (MTIS) Coal Resources of approximately 7 million mt scheduled into a 5 – 6-year mine life. The envisaged yield for the full seam mining ROM Coal is approximately 95 % for the Opencast and 68.7% for the Underground section. Wakefield Colliery (Pty) Ltd concluded an agreement in respect of the Sale of the Mining Right (Ref. No.: 263MR), held by Sudor Coal (Pty) Ltd on 17 December 2019. The Mining Right entails the mining of coal on various areas on portions 9, 10 and portion 15 of the farm AANGEWYS 81 IS, Bethal District, Mpumalanga Province. Wakefield Colliery will commence with the mining operations.

WAKEFILD COLLIERY SOUTH AFRICA LIMITED: IIB-DG acquired WAKEFILD COLLIERY SOUTH AFRICA LIMITED on April 02, 2022. Wakefield Colliery has declared an Opencast and Underground mineable tonne in situ (MTIS) Coal Resources of approximately 7 million mt scheduled into a 5 – 6-year mine life. The envisaged yield for the full seam mining ROM Coal is approximately 95 % for the Opencast and 68.7% for the Underground section.

WAKEFIELD Colliery Pty Ltd was engaged by the shareholders of Wakefield Colliery (Wakefield) to prepare an Independent Technical Review (ITR) of the technical inputs to the life of mine (LOM) plan and inputs to the financial model of Wakefield Colliery.