MC MINING LIMITED - Yi (Christine) He appointed as Managing Director and Chief Executive Officer of MC Mining Limited

Yi (Christine) He appointed as Managing Director and Chief Executive Officer of MC Mining Limited

MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM

ANNOUNCEMENT                                                                       

25 September 2025

YI (CHRISTINE) HE APPOINTED AS MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER OF MC MINING LIMITED
                                     

 MC Mining Limited (MC Mining or the Company) is pleased to announce the appointment of Ms Yi
 (Christine) He as Managing Director and Chief Executive Officer of MC Mining Limited with effect from
 1 October 2025. Ms He has already been serving as Interim Managing Director and Chief Executive
 Officer since 1 July 2024 succeeding Mr Godfrey Gomwe.

 Ms He has demonstrated her value to the Company both as an active shareholder over the years and,
 more recently, as a full time executive. Ms He has been instrumental in driving the transition of the
 Company from an exploration focus to the current positioning towards sustainability through
 development, construction and operation of globally competitive, cash generative high quality coal
 assets in South Africa. Ms He has played a pivotal role in raising equity, restructuring the cost base
 and appointing a new leadership team that has laid solid foundations for the Company to, in particular,
 meet its target for coal production at the flagship Makhado Project in calendar year Q1 2026.

 Mr Mathews Senosi, the Company Board Chairman said: "We are privileged to have been able to
 secure Christine on a full time basis at a critical stage of the execution of our strategy. Christine is
 uniquely placed as a custodian of value for the various diverse stakeholders of MC Mining given her
 lengthy history with the company as a shareholder, track record of delivery as an executive and
 knowledge of the business cultures that will contribute to our success."

  Ms He has a bachelor's degree in English Literature from Sichuan University and over 20 years'
 experience at senior management level. Her broad commercial experience includes, amongst others,
 the financing, development and execution of large construction and mining projects. As an investor
 Ms He has participated as a major shareholder of the Company for more than 23 years.

 Material terms of Ms He's appointment are as follows:

   Material Provision                                 Description

   Positions                                          Managing Director and Chief Executive Officer

   Start Date                                         1 October 2025

   Term                                               On going unless terminated by either party on 6
                                                      months' written notice or breach of contract in
                                                      accordance with the employment agreement
                                                      and the Company's policies

   Starting Annual Guaranteed Cost to Company         ZAR3,500,000

   Performance Based Bonus Scheme                     The roles qualify for participation in the
                                                      Company's Performance Incentive Scheme as
                                                      published from time to time including both short
                                                      term and long term incentive schemes. The roles
                                                      qualify for a bonus of up to 200% of the annual
                                                      guaranteed cost to company upon attainment of
                                                      agreed Company and individual targets

   Performance Rights Shares                          The roles qualify for participation in the
                                                      Company's Performance Rights Scheme as
                                                      published from time to time. This may include
                                                      share option allocations as approved by the
                                                      Board and shareholders as relevant



This announcement has been approved by the Company's Board of Directors.

JSE Sponsor: BSM Sponsors Proprietary Limited




About MC Mining Limited:
MC Mining is an ASX/JSE-listed coal exploration, development and mining company operating in South Africa. MC Mining's
key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard coking coal), Vele Colliery
(semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and thermal coal).

Date: 25-09-2025 10:30:00
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