MAHUBE INFRASTRUCTURE LIMITED - A brave new dawn for Mahube Infrastructure Limited

A brave new dawn for Mahube Infrastructure Limited

Mahube Infrastructure Limited
(Formerly GAIA Infrastructure Capital Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2015/115237/06)
ISIN: ZAE000290763
JSE code: MHB

A brave new dawn for Mahube Infrastructure Limited

Today marks the dawn of Mahube Infrastructure Limited, as it begins trading on the Johannesburg Stock Exchange, following
the end of trading in shares of GAIA Infrastructure Capital Limited yesterday. Mahube, a SeTswana word commonly derived
from the phrase ‘Mahube a naka tsa kgomo’, invokes the dawning of a new day. At the Infrastructure SA project preparation
roundtable, President Ramaphosa told delegates that investment into the delivery and upkeep of infrastructure projects would
be critical to the country’s post-pandemic economic recovery. Infrastructure-focused organisations, such as Mahube
Infrastructure, thus have a critical role to play.

Mahube Infrastructure owns five renewable energy assets – two wind farms and three solar pv farms – all of which were
licensed by South Africa’s department of energy in the first round of bids of the renewable energy independent power producer
procurement programme. The assets are all currently in operation, generating electricity, which they sell to Eskom in
accordance with 20-year power purchase agreements.

In July 2020, Mahube Infrastructure appointed Gontse Moseneke as its CEO, as well as Petro Lewis as its Financial Director,
with the primary objective of reinvigorating the focus of the organisation and pursuing initiatives that can drive shareholder
value.

“Mahube represents our enthusiastic response to the call to intervene in the infrastructure space in South Africa. We aim to
make a meaningful contribution to infrastructure development and upkeep by innovative projects that can compete on a global
scale,” says Moseneke. “We have a great foundation in the platform that has been established in the company over the past
five years, from which we can build a truly impactful infrastructure business. My team and I bring a nuanced approach to
attracting, unlocking and directing capital into infrastructure assets, and then in managing these assets to achieve superior
performance.”

Mahube Infrastructure’s independent non-executive Chairman, Eddie Mbalo, says he is pleased with the progress Mahube
Infrastructure is making after a challenging few years for the company.

Says Mbalo: “We have finally turned the corner in terms of achieving improved alignment between the interests of the
shareholders, the operating team and the board. Under the executive leadership of Gontse and Petro, we have transitioned
relatively smoothly towards internal management of the company’s existing business. From our renewed exchanges with the
key shareholders, we now have better clarity about what we need to do to unlock and enable the company’s ability to grow.
The executive directors have attracted cooperation from several world class experts and have found commercial arrangements
that avoid burning the candle at both ends. We are looking forward to seeing success from this team in short order.”

About Mahube Infrastructure Limited
Mahube Infrastructure Limited, formerly GAIA Infrastructure Limited, is an infrastructure company that offers investors
exposure to infrastructure assets in Southern Africa. The company’s shares are listed and traded on the Main Board of the
JSE Limited. The vision of Mahube Infrastructure is to stimulate fast, inexpensive and sustainable delivery and upkeep of
infrastructure on a significant scale. Mahube Infrastructure aims to provide investment returns that are characterised by
predictable and regular cash flows generated from infrastructure assets, long term investment into ownership and operation
of assets, and blue-sky upside from providing disruptive solutions to infrastructure-related market inefficiencies.

For more information contact:

Tebatso Mkhize
Investor Relations contact
+27 73 060 8182
ir@mahube.africa
www.mahube.africa

4 November 2020
Sponsor: Sasfin Capital (a member of the Sasfin Group)

Date: 04-11-2020 02:55:00
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