MANTENGU MINING LIMITED - Drawdown from R500 million Share Facility

Drawdown from R500 million Share Facility

MANTENGU MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number 1987/004821/06)
Share code: MTU  ISIN: ZAE000320347
("Mantengu" or "the Company")


DRAWDOWN FROM R500 MILLION SHARE FACILITY


Shareholders are referred to the announcements released on SENS (and using the terms defined therein,
unless otherwise stated) on 18 April 2024, 1 August 2024, 5 December 2024 and 19 December 2024 relating
to Mantengu's draw downs from the R500 million Facility made available to the Company by the Investor,
GEM Global Yield LLC SCS, and are hereby advised that:

-   on 12 December 2024, 15 January 2025, 22 January 2025 and 29 January 2025, being the respective
    commencements of the ninth, tenth, eleventh and twelfth Pricing Periods relating to the draw downs,
    Mantengu delivered conforming Subscription Notices to the Investor to subscribe for the Consideration
    Shares and provided copies thereof to the Share Provider, Disruptioncapital, in accordance with the
    terms of the Share Subscription Facility Agreement;

-   on the last Trading Dates at the end of each of the ninth, tenth, eleventh and twelfth Pricing Periods,
    8 January 2025, 21 January 2025, 28 January 2025 and 11 February 2025, the Investor delivered
    Closing Notices to the Company confirming the Issue Amounts for which it wished to subscribe; and

-   following the aforementioned draw downs from the Facility, on 24 January 2025 and 14 February 2025,
    respectively Mantengu applied to the JSE Limited for the listing of an additional 16 178 985 Shares and
    8 702 108 Shares, which Shares were issued on 28 January 2025 at a deemed price of R0.66 per share
    and 18 February 2025 at a deemed price of R0.79 per share, to Disruptioncapital,

pursuant to the undertaking by Mantengu to make such Share Provider whole after the relevant closing date
by issuing the Consideration Shares to the Share Provider to whom the Investor assigned its rights to be
issued such Shares to make the Share Provider whole again.


Johannesburg
24 February 2025

Designated Adviser
Merchantec Capital

Date: 24-02-2025 05:28:00
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