MONTAUK RENEWABLES INC - Unaudited Consolidated Results For the six months ended 30 June 2025

Unaudited Consolidated Results
For the six months ended 30 June 2025

MONTAUK RENEWABLES, INC.
Incorporated in the United States of America
Company number: 85-3189583
NASDAQ share code: MNTK
JSE share code: MKR
ISIN: US61218C1036
("Montauk Renewables" or the "Company")


UNAUDITED CONSOLIDATED RESULTS
For the six months ended 30 June 2025

Dollar amounts presented herein are in United States Dollars

SALIENT FEATURES
                                                                2025        2024
                                                           Six months    Six months    Percentage
                                                         Ended 30 June Ended 30 June       change
Revenue                                          ($'000)      87 730        82 125            7%
EBITDA                                           ($'000)      11 360        15 603          (27%)
Headline (loss)/ earnings                        ($'000)      (4 008)        1 601         (350%)
(Loss) / earnings per share                      ($)           (0.04)         0.01         (500%)
Headline (loss) / earnings per common share      ($)           (0.03)         0.01         (400%)
Net asset value per common share                 ($)            1.78          1.80           (1%)


DECLARATION OF CASH DIVIDEND
The directors have resolved not to declare a final dividend to focus financial resources on the
continued development of the Company's operations portfolio.

USE OF NON-GAAP MEASURES
This report was prepared for the purpose of complying with the reporting requirements of the
Johannesburg Stock Exchange and includes certain non-GAAP measures, such as headline earnings and
headline earnings per common share, and related reconciliations.

Reconciliation of headline earnings
                                                         2025                        2024
                                                      Six months                  Six months
                                                    Ended 30 June               Ended 30 June

                                                  Gross           Net         Gross            Net
                                                  $'000         $'000         $'000          $'000
Net (loss) / income attributable to common
shareholders                                                   (5 951)                          1 138
Adjustments
Loss on disposal of plant and Equipment              36            28            71              43
Impairment of plant and equipment                 2 424         1 915           699             420
Headline (loss) / earnings                                     (4 008)                        1 601

Basic and headline earnings per common share (US Dollars)
Earnings                                                         (0.04)                         0.01
Headline earnings                                                (0.03)                         0.01

Weighted-average common shares
outstanding ('000)(1)                                          142 875                      142 028

Diluted earnings per common share (US Dollars)
Earnings                                                         (0.04)                         0.01
Headline earnings                                                (0.03)                         0.01

Weighted-average common shares
outstanding for diluted ('000)                                 142 875                      142 252


   (1) The common share outstanding as of June 30, 2025 is as reported in the quarterly report on
       Form 10-Q for the fiscal quarter ended June 30, 2025, filed with the Securities and Exchange
       Commission on August 6, 2025.

FORM 10-Q QUARTERLY REPORT and FORM 8-K CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934, Montauk Renewables
stockholders are advised that a Form 10-Q and Form 8-K has been filed with the SEC. The Form 10-Q
disclose the quarterly results and related disclosures for the quarterly period ended 30 June 2025.
The Form 8-K discloses the press release announcing the quarterly results for the second quarter
ended 30 June 2025.
A copy of the Form 10-Q can be found at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1826600/000095017025104181/mntk-20250630.htm

A copy of the Form 8-K can be found at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1826600/000095017025104161/mntk-20250806.htm

DIRECTORS' STATEMENT
This short-form announcement is the responsibility of the Company's Board of Directors.

The financial information is only a summary and does not contain full details of the financial
results. Any investment decisions by investors and/or shareholders should be based on information
contained in the full announcement, accessible from August 7, 2025, via the JSE link
(https://senspdf.jse.co.za/documents/2025/jse/isse/MKRE/HY25.pdf). The full announcement is also
available at the Company's registered office and may be requested at info@montaukenergy.com free of
charge to investors and/or shareholders, during office hours (09:00 - 17:00) from Mondays to
Fridays.

August 7, 2025

Directors: JA Copelyn (Chairman)*###, SF McClain (Chief Executive Officer)#,
MH Ahmed*###, TG Govender*###, J Cunningham*#, Y Shaik* ###
*Non-executive; #United States of America; ### Republic of South Africa

Company secretary: J Ciroli

Registered office: 5313 Campbells Run Road, Suite 200, Pittsburgh, PA 15205
Website: https://ir.montaukrenewables.com/

Montauk Renewables is primary listed on the Nasdaq and secondary listed on the JSE.

Sponsor:
Investec Bank Limited

Date: 07-08-2025 07:15:00
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