Wrap Text
September 2026 Quarterly Activities Report
Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
September 2026 Quarterly Activities Report
HIGHLIGHTS
- Glencore financing and offtake: The Glencore financing and offtake arrangements were finalised
post quarter-end. Final documentation was executed in early October 2026, making the US$40
million Tranche A financing unconditional and paving the way for construction of the Uppers Mine
at Prieska to commence with a breaking ground ceremony in December 2026 and early process
works.
- Prieska Copper Zinc Mine (PCZM) advances towards construction: Substantial progress achieved
across project execution planning, contractor selection, value engineering and operational
readiness, positioning the Project for the next phase of development. Host community engagement
focused on local jobs and procurement.
- Okiep Copper Project optimisation: Phase One of the optimisation of the Flat Mines 2025 DFS was
completed, identifying opportunities to improve mining methods, development sequencing,
processing and infrastructure configuration. Approval received to progress to Phase Two.
- Further drilling planned at Okiep: Preparations completed for a 34-hole, ~8,000m drilling program
targeting potential extensions to high-grade mineralisation at Flat Mine East and Flat Mine South,
scheduled to commence in the December 2026 Quarter.
- Key focus for the remainder of CY2026: Commence early stage works for development of the Uppers
Mine at PCZM in readiness for commencement of full construction of the Uppers Mine in January
2027, finalise key contractor appointments, and progress the optimisation studies at Flat Mines.
Orion’s Managing Director and CEO, Tony Lennox, commented:
“The September Quarter marked another important period for Orion as we continued to lay the
foundations for our transition from project development to construction and, ultimately, production.
“Our immediate priority has been to finalise the Glencore financing and offtake arrangements and
ensure that Prieska is ready to move into the construction phase. With the outstanding documentation
executed and the US$40 million Tranche A financing becoming unconditional in early October, we have
achieved a major milestone in our development strategy.
“We are now looking forward to receiving the first drawdown from Tranche A and commencing
construction of the Uppers Mine.
“At Okiep, the first phase of our optimisation review has identified a number of promising opportunities to
enhance the project’s development configuration and improve its economics. With the support of the
IDC technical team, we’ve progressed to the second phase of this study, alongside preparations for
further drilling aimed at improving our understanding of the high-grade mineralisation at Flat Mines.
“During the December quarter, we will conclude our participation in the BHP Xplor program, which has
given us valuable access to technical expertise, industry networks and fresh perspectives on our project
portfolio. The opportunity to showcase our projects to a wider audience at the final event in New York
was a fitting conclusion to what has been a highly beneficial experience.
“The collaboration, connections made and project insights forged with the other members of the 2026
cohort and BHP’s technical team will continue to deliver significant benefits for Orion as we explore
opportunities to unlock additional value across our portfolio.”
EXECUTIVE SUMMARY
OVERVIEW
Orion Minerals Ltd (ASX/JSE: ORN) (Orion or Company) is developing two complementary base metal
production hubs in South Africa’s Northern Cape Province – a richly endowed mineral province and
globally significant mining region.
The Company is advancing from developer to operating status, targeting first bulk copper concentrate
production by the end of 2027, with the aspirational goal of ramping up production to >30ktpa copper
and >65ktpa zinc when both projects reach steady-state production.
QUARTERLY SUMMARY
The September Quarter saw Orion make further important progress towards its transition from project
developer to producer, with activities focused on finalising project financing arrangements, advancing
construction readiness at the Prieska Copper Zinc Mine (PCZM) and identifying opportunities to enhance
the development economics of the Flat Mines Project at Okiep.
Prieska Copper Zinc Mine
A major focus during the Quarter was progressing the outstanding documentation and conditions
precedent under the US$250 million financing and offtake agreements with Glencore plc, announced
on 9 February 2026.
Subsequent to the end of the Quarter, remaining documentation was executed and conditions
precedent were satisfied, making Tranche A unconditional. This represents a significant milestone, with
the first drawdown expected by early November, paving the way for construction of the Uppers Mine to
proceed.
In parallel, Orion continued to advance detailed project execution planning, contractor procurement,
long-lead equipment requirements, critical infrastructure arrangements and operational readiness. Key
activities included progressing the contract mining tender process, advancing workforce and
recruitment planning, and continuing engagement with Eskom regarding staged electricity supply.
Okiep Copper Project
At Okiep, the Company completed Phase One of its optimisation review of the March 2025 Definitive
Feasibility Study (DFS), undertaken in conjunction with Fraser McGill. The review identified several
opportunities to improve project economics through changes to mining methods, orebody sequencing,
processing plant configuration, ore handling and infrastructure planning.
Following consideration by the Orion Board and IDC Technical Committee, approval was received to
progress to Phase Two of the optimisation program. Preparations also advanced for an approximately
8,000m drilling program at Flat Mine East and Flat Mine South, targeting potential extensions to high-grade
mineralisation and opportunities to improve the early mine development sequence.
Outlook
Orion's immediate priorities for the December 2026 Quarter are to progress the initial drawdown of the
Glencore Tranche A financing, commence early-stage works at Prieska and continue the Flat Mines
optimisation program at Okiep. These activities are expected to represent important steps towards Orion's
longer-term objective of establishing a significant copper and zinc production business in South Africa's
Northern Cape Province.
2
HEALTH AND SAFETY, ENVIRONMENTAL, SOCIAL AND GOVERNANCE
Health and Safety
There were no injuries or incidents reported for the Quarter. The hours worked for the Quarter and the
2027 financial year to date (YTD) are shown in the table below:
Table 1: Hours worked at the Group’s Areachap and Okiep Copper Projects (South Africa).
Hours Worked
Category of Work
Quarter FY2027 YTD
Exploration 894 894
Surface 8,399 8,399
Underground 1,735 1,735
Contractors 15,212 15,212
Total 26,240 26,240
The Lost-Time Injury Frequency Rate (LTIFR) per 200,000 hours worked was 0 for the financial year to date
and 0 for the September 2026 Quarter.
At the end of the Quarter, the team achieved 565 days without a Lost-Time Injury (LTI) and 3,663
production fatality-free shifts.
Community and Stakeholder Engagement
Prieska Copper Zinc Mine (PCZM)
Engagement with stakeholders during the Quarter continued to focus on the Siyathemba Municipality,
Orion Siyathemba Stakeholder Engagement Forum (OSSEF) and the Siyathemba Local Economic Council
(SLEC). Discussions concentrated on local employment opportunities and on preparing local suppliers to
participate in upcoming procurement opportunities.
Orion Minerals is working with the Siyathemba Municipality to progress a Request for Interest to develop
the 50ha rezoned industrial area next to the old Prieska railway station for housing. The Municipality is also
considering the release of four more sites in the town of Prieska to developers for residential construction,
in order to meet the town’s expected growth.
PCZM again used the SLEC – which represents Siyathemba’s business chambers – to share information on
the Project and Operational Procurement Packages and Work Breakdown Structure. This gives local
businesses early visibility regarding upcoming opportunities so they can prepare to supply goods and
services to the mine. The on-site shift workers’ village served as a practical example: the housing units will
arrive as shells, while the fit-out materials will be bought locally and installed by several local service
providers. To maximise the benefits to local businesses, the work will be broken up into smaller packages
and shared among host community contractors.
The IDC remains closely involved in the Siyathemba business environment. Following a meeting with SLEC
members, the IDC’s Regional Manager for the Northern Cape is due to run a workshop for local businesses
and service providers on the funding support available to smaller enterprises seeking work with Orion.
Using examples of successful IDC-backed businesses in the province, the session will guide host
community members through what it takes to establish and grow a viable business.
During the Quarter, PCZM and the South African Police Service (SAPS) in Prieska agreed Terms of
Reference for regular engagement on safety, security and community matters. The framework sets out
guidelines for how the two parties will build a constructive and transparent working relationship, share
situational understanding, and prepare in advance for events that may require coordination, such as
protest action or road access disruptions. It also establishes nominated liaison contacts, emergency
escalation arrangements, regular meetings, and lawful information sharing.
3
SAPS may also observe Human Rights and use-of-force training for PCZM’s private security personnel and
take part in relevant emergency exercises. The Terms of Reference fully recognise SAPS’s statutory
independence. They confirm that community grievances and peaceful protest will be handled through
PCZM’s stakeholder engagement and grievance processes rather than treated as security matters. They
also support PCZM’s commitment to align its security arrangements with the Voluntary Principles on
Security and Human Rights.
The signing of ‘Terms of Reference for Safety, Security and Community Liaison Engagement’ (ToR) during
the Quarter supports PCZM's commitment to align its security arrangements with the Voluntary Principles
on Security and Human Rights (VPSHR) and other applicable Good International Industry Practice (GIIP).
Photo 1: Engagement with stakeholders within the Siyathemba host community.
PCZM, in collaboration with Siyathemba Local Municipality, contributed to the Siyathemba community in
July 2026 as part of Mandela Day, with staff dedicating time to community upliftment.
Separately, PCZM participated with the Municipality, Mulilo Prieska Community Trust and Melees Electrical
Lines to supported Moetzet and Guardian Angels ECD centres through educational equipment donations
and facility renovations, to improve learning environments.
Photo 2: Education donations to the PCZM local community.
4
Okiep Copper Project (OCP)
A preliminary meeting was held with the Nababeep SAPS to provide a project update. The intention is to
progress a ToR for Flat Mines, similar to the one now in place at PCZM.
OCP and Orion Minerals management met with the management of Nfm, the local radio station, to
reaffirm the Company’s commitment to, and financial support of, this community initiative. On-air
interviews were conducted to provide listeners with updated information on project progress.
Environmental Management
Making positive contributions to the state of the natural environment, reducing pollution and ensuring
negligible contamination from operational activities are central to Orion’s business model and are part
of the Company’s ongoing commitment to delivering the highest level of environmental compliance,
while managing and monitoring the environmental impacts of our activities throughout the exploration
and mining lifecycle.
There were no environmental incidents recorded during the Quarter.
ORION OPERATIONS
PRIESKA COPPER ZINC MINE (PCZM)
Critical Focus Items
During the Quarter, operational readiness work at PCZM concentrated on the items considered most
critical to a safe and timely start of Upper-Level mining and plant operations. These included:
• People: finalising the integrated labour plan and the phased recruitment of key and legally
appointed roles, supported by onboarding and training strategies for employees and contractors.
• Contract mining: progressing the contract mining procurement process.
• Stakeholders: completing the stakeholder classification, wants-and-needs analysis and risk
mitigation strategy to guide engagement with the host community.
• Security and emergency preparedness: advancing security and emergency readiness through a
security threat risk assessment and agreed Terms of Reference with SAPS Prieska.
• Systems: developing the integrated operational systems roadmap.
Value Engineering and Operational Readiness
During the quarter, the Owner’s Team continued to pursue opportunities to strengthen the outcomes of
the PCZM Definitive Feasibility Study through value engineering and operational readiness.
Operational readiness work progressed across several areas. These included the integrated labour plan
and budget, a phased recruitment strategy aligned to the construction schedule, and onboarding and
training strategies for employees and contractors. A stakeholder classification, a wants-and-needs
analysis and a risk mitigation strategy were completed to guide engagement with the host community
and other key stakeholders. A security threat risk assessment was completed, the construction-phase
private security services specification was developed, and Terms of Reference for liaison with SAPS in
Prieska were agreed. Work also continued on the integrated operational systems and technology
roadmap that will support construction and future operations.
To reduce the risks of recruiting scarce skills and training an inexperienced workforce, Upper-Level mining
will be carried out by a mining contractor. Three experienced contracting companies were short-listed
following a market assessment, and each will be asked to prepare and price an execution plan based
on the final Sound Mining schedule. The mining contractor is expected to be appointed in Q1 CY2027,
allowing enough time for mobilisation before mining starts in Month 9.
5
Torque Africa remains the preferred drilling contractor for the project. Once the project kicks off, drilling
will commence from the historical underground workings. The aim is to upgrade Inferred Resources to
Indicated before mining begins. The drill core will also be used to undertake further metallurgical test
work, both to optimise the copper concentrate and to support the design of the tailings storage facility
(TSF).
The Terms of Reference and Memorandum of Understanding between PCZM, CENEC (Prieska Power
Reserve) and the Siyathemba Local Municipality (SLM) remain in place. Under these arrangements, the
parties are collaborating on a timely upgrade of the SLM’s Orange River water extraction and treatment
infrastructure. The planned upgrade will increase treatment capacity from 15 ML/day to 25 ML/day.
Bloemfontein-based MDA Group is managing the Water Use Licence Amendment (WULA) application
for the increased extraction with the Department of Water and Sanitation on the Municipality’s behalf.
PCZM Project Construction
During the September 2026 Quarter, the Owner’s Team continued to focus on critical-path design, long-
lead procurement and activities required for day 1 readiness and construction of the build-own-operate-
transfer (BOOT) processing plant.
A site risk assessment at PCZM was undertaken during the Quarter, with the Owner’s Team awaiting
receipt of the final report from the group engaged.
Procurement of long-lead and day 1 requirements – including surface trackless machinery, diesel supply,
light delivery vehicles and the accommodation village fit-out – all progressed significantly along with the
tender process for PPE vendor-managed inventory.
In support of local procurement and community engagement, PCZM held a ‘Supplier Open Day’ on 23
September 2026. Local suppliers were encouraged to attend the session and assistance was provided to
participants from Prieska, Kimberly and Groblershoop to help them register on the Company’s Supplier
Portal. This will, in turn, further strengthen the local supplier database the Company can draw from during
the construction and future phases of the project.
No other field or exploration work was carried out at PCZM during the Quarter.
OKIEP COPPER PROJECT (OCP)
Critical Focus Items
During the Quarter, Orion continued to focus on optimising the 2025 DFS for the Okiep Copper Project in
conjunction with Fraser McGill. Through re-evaluation, the aim is to improve the overall value of the Flat
Mine Project area. Emphasis has been placed on reconfiguring the mining methods and sequencing of
the Flat Mine North (FMN), Flat Mine East (FME), and Flat Mine South (FMS) developments to maximise the
value of the orebodies in terms of both tonnage and copper grade.
Exploration upside
While no drilling was completed in Q3 CY2026, an additional program of optimisation drilling, comprising
34 drillholes totalling 8,000m between FME and FMS, is scheduled for Q4 CY2026. The key objectives of the
upcoming drill program are to extend or close out high-grade zones at depth and test shallower up-dip
extensions that may support the definition of higher elevation stopes with the potential to be extracted
earlier in the mine plan.
The drilling will be accompanied by a pilot seismic study around the deposits to attempt to map high-
grade extensions at depth and improve the success rate of drilling.
Geological optimisation work on the outcome of the OCP DFS (refer ASX/JSE release 28 March 2025)
continued during the Quarter.
6
Optimisation of Definitive Feasibility Study (DFS-25)
The first phase of the Fraser - McGill valuation revision of the 2025 DFS was completed during the Quarter,
resulting in the identification of areas where additional value can be unlocked at the Flat Mines Project.
Areas identified were:
• Mining
o Review mining methods
o Top access to ore bodies to reduce waste development
o Sequencing of ore bodies to maximise copper grade and timing
• Processing
o Assess value potential to construct maximum plant capacity vs modular concept
o Undertake research on latest cell technology
o Review wet tailings deposition vs dry tailings stacking
• Ore handling
o Review conveyor belt ore handling vs truck and shovel
o Primary crushing on surface vs underground
• Infrastructure
o Review risk assessment re bulk water and bulk electricity supply
The Phase One report was presented to the Orion Board and IDC Technical Committee, with approval
received to proceed to Phase Two of the optimisation.
JACOMYNSPAN Ni-Cu-Co-PGE PROJECT
The Jacomynspan Nickel-Copper-PGE Project (JMP) is Orion’s third project alongside PCZM and OCP,
with the potential to be a significant metals producer. Orion has established the potential for a large-
scale, near-surface bulk mining operation at JMP, with drilling confirming the presence of shallow sulphide
nickel-copper-cobalt-PGE mineralisation within the ultramafic structure.
Exploration activities in the Quarter included review of existing and revised geophysical survey results, and
the planning and design of detailed follow-up geophysical survey programs.
Areachap Exploration
The Areachap Project is located in an under-explored belt of the same name, covering an area
exceeding 175,000ha with multiple VMS-style copper-zinc and nickel-copper-cobalt-PGE-gold ultramafic
intrusive targets within Orion’s tenements, including numerous unexplored targets.
Chief among these are:
• the Kantienpan zinc-copper VMS project – where a substantial mineralised deposit has been
identified through drill-testing with this project to be progressed to concept level;
• the Witkop copper-gold project – where a preliminary mineralisation assessment has been
completed and further assessment is underway regarding the potential concept level of the
project;
• the Boksputs copper-zinc VMS project – where additional follow-up exploration is required
following geophysical investigation and preliminary drill-testing; and
• Orange River pegmatite swarm – where additional lithium, beryllium and Rare Earth Element (REE)
mineralisation potential is being investigated in an area that traverses the Orion tenements.
Exploration activities during the Quarter included a review of existing and revised geophysical survey
results, and the planning and design of detailed follow-up geophysical survey programs.
7
BHP Xplor
Participation in BHP’s Xplor project accelerator program continued through the Quarter, including the
final workshop of the program, referred to as BHP Xplor Showcase. This involved investor presentations by
all cohort members in New York at an event organised jointly with 121-Mining.
Project activities included continued modelling and evaluation of results from the district-scale MT field
surveys at OCP, geochemical and isotopic studies, regional spatial database compilations, and other
geophysical results. The Participation Agreement between Orion and BHP Xplor is scheduled to conclude
in December 2026 quarter.
Australian Projects
Fraser Range – Nickel-Copper Projects (Western Australia)
The Fraser Range Project is a belt-scale project, highly prospective for high-value magmatic nickel-
copper-cobalt sulphide discoveries. The project is a joint venture with ASX-listed IGO Limited (IGO), which
is the dominant landholder in the Fraser Range and owns the Nova Operation, which is mining and
processing the Nova-Bollinger nickel-copper-cobalt sulphide deposit discovered in 2012.
Orion maintains a small tenement holding in the Fraser Range under a joint venture with IGO. In terms of
the joint venture, IGO is responsible for the exploration of all the tenements while Orion is free carried by
IGO through to the first Pre-Feasibility Study. This allows Orion to maintain exposure to ongoing exploration
and development of the project, without any ongoing financial commitment.
Walhalla – Gold and Polymetals Project (Victoria)
While the Walhalla-Woods Point District is best known for gold mining, high-grade copper-nickel and PGE
mineralisation also occurs within the belt. Both the gold and copper-nickel-PGE mineralisation within this
district are hosted within dykes from the Woods Point Dyke Swarm, a series of ultramafic to felsic dykes
occurring over a 75km long north-south belt.
No field or exploration work was carried out on the Walhalla Project during the Quarter.
Corporate
Cash and Finance
Cash on hand at the end of the Quarter was $9.62 million. Payments made to related parties and their
associates during the Quarter was $152k for director fees and consulting fees (nett) as well as $70k to joint
venture partners, as listed in Section 6 of the Company’s Quarterly Cash Flow Report (Appendix 5B).
Glencore Financing and Offtake Agreements
Subsequent to the end of the September 2026 Quarter, the Company announced the finalisation of the
financing and offtake agreements entered into between its subsidiary entity Prieska Copper Zinc Mine
(Pty) Ltd and a wholly-owned subsidiary of Glencore plc (refer ASX/JSE release 19 October 2026).
The financing will be made available in two tranches, with the first drawdown from Tranche A expected
by early November 2026. Tranche B of the financing remains conditional, including Glencore securing
non-recourse funding from third parties to enable it to fund its prepayments in relation to Tranche B.
Summary of the agreements:
• Tranche A of US$40 million to be used for the construction and startup of the Uppers at Prieska;
and
• Tranche B of US$210 million, subject to satisfaction of the applicable conditions, to be used for the
construction and startup of the Deeps at Prieska, of which US$50 million may be drawn early to
commence early works on the Deeps, subject to certain conditions being fulfilled.
8
Key Management Personnel Change
On 21 October 2026, Orion announced that Mr Peet van Coller stepped down as Orion’s Chief Financial
Officer (CFO), with Mr Stephen Rowse appointed as interim CFO with effect from 22 October 2026.
Mr van Coller joined Orion as CFO in April 2023 and has played an important role in strengthening the
Company’s finance function and supporting the advancement of Orion’s Prieska Copper Zinc Mine and
Okiep Copper Project in South Africa’s Northern Cape Province.
Mr Rowse is a Chartered Accountant with more than 20 years’ experience in senior finance roles,
including significant experience in the mining industry and with companies listed on the ASX, JSE and AIM.
He was previously General Manager: Finance and Administration of ASX, JSE and AIM listed MC Mining
Limited, where he was responsible for the group’s finance function, and most recently served as Chief
Financial Officer of JSE listed Sail Mining Group Limited.
Tenement Table
Ownership Change in
Tenement Project Joint Venture Partner
Interest Quarter
South Africa
NC30/5/1/1/2/11850PR
Bartotrax 100% --- ---
NC30/5/1/1/2/13528PR
NC30/5/1/2/2/10138MR Prieska Copper Zinc Mine 70% --- ---
NC30/5/1/2/2/10146MR Prieska Copper Zinc Mine 70% --- ---
NC30/5/1/1/2/12257PR Prieska Near Mine-OE5 100% --- ---
NC30/5/1/1/2/12258PR Prieska Near Mine-OE5 100% --- ---
NC30/5/1/1/2/12287PR Prieska Near Mine-OE5 100% --- ---
NC30/5/1/1/2/12405PR Prieska Near Mine-OE5 100% --- ---
NC30/5/1/1/2/11840PR
Doonies Pan 70% --- ---
NC30/5/1/1/2/13752PR
NC30/5/1/2/2/10032MR Namaqua-Disawell 25% --- Namaqua Nickel Mining (Pty) Ltd
NC30/5/1/1/2/12216PR
Namaqua-Disawell 25% --- Namaqua Nickel Mining (Pty) Ltd
NC30/5/1/1/2/14800PR
NC30/5/1/1/2/13397PR Namaqua-Disawell 25% --- Disawell (Pty) Ltd
NC30/5/1/1/2/13398PR Namaqua-Disawell 25% --- Disawell (Pty) Ltd
NC30/5/1/1/2/12292PR Masiqhame 50% --- Masiqhame Trading 855 (Pty) Ltd
NC30/5/1/1/2/12197PR
Boksputs North 70% --- ---
NC30/5/1/1/2/14807PR
NC30/5/1/1/2/11125PR
Okiep 100% --- ---
NC30/5/1/1/2/13395PR
NC30/5/1/1/2/12357PR
Okiep 100% --- ---
NC30/5/1/1/2/14802PR
NC30/5/1/1/2/12897PR Okiep 100% --- ---
Industrial Development Corporation
NC30/5/1/2/2/10150MR Okiep 56.25% ---
of South Africa Limited (IDC)
NC30/5/1/1/2/12850PR Okiep 56.25% --- IDC
NC30/5/1/1/2/12755PR Okiep 56.25% --- IDC
NC30/5/1/1/2/12848PR Okiep 56.25% --- IDC
NC30/5/1/1/2/12852PR Okiep 100% --- ---
9
Ownership Change in
Tenement Project Joint Venture Partner
Interest Quarter
NC30/5/1/1/2/12854PR Okiep 100% --- ---
NC30/5/1/1/2/12721PR Marydale 100% --- ---
Western Australia
IGO Limited & Geological Resources
E39/1653 Fraser Range 35% ---
Pty Ltd
Victoria
EL6069 Walhalla 100% --- ---
EL5042 Walhalla 100% --- ---
This Quarterly report is authorised by the Board.
29 October 2026
JSE Sponsor
Merchantec Capital
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other
things, statements regarding targets, estimates and assumptions in respect of metal production and prices, operating
costs and results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery
rates, and are or may be based on assumptions and estimates related to future technical, economic, market,
political, social and other conditions. These forward-looking statements are based on management’s expectations
and beliefs concerning future events. Forward-looking statements inherently involve subjective judgement and
analysis and are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of
Orion. Actual results and developments may vary materially from those expressed in this release. Given these
uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Orion makes
no undertaking to subsequently update or revise the forward-looking statements made in this release to reflect events
or circumstances after the date of this release. All information in respect of Exploration Results and other technical
information should be read in conjunction with Competent Person Statements in this release (where applicable). To
the maximum extent permitted by law, Orion and any of its related bodies corporate and affiliates and their officers,
employees, agents, associates and advisers:
• disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any
change in expectations or assumptions;
• do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness
of the information in this release, or likelihood of fulfilment of any forward-looking statement or any event or
results expressed or implied in any forward-looking statement; and
• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability
for negligence).
10
Date: 29/10/2026 08:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
