MANTENGU LIMITED - Issue of Replacement Securities to an Associate of a Director

Issue of Replacement Securities to an Associate of a Director

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


ISSUE OF REPLACEMENT SECURITIES TO AN ASSOCIATE OF A DIRECTOR


In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the
Johannesburg Stock Exchange (JSE), shareholders are advised that an associate of a
director has been issued ordinary shares at an issue price of 46 (forty six) cents per share
following the approval of the specific issue of shares for cash at the General Meeting held
on 22 January 2024. Disruptioncapital Proprietary Limited ("Disruptioncapital") is a share
provider in terms of the GEM Share Subscription Facility Agreement. Shareholders are
advised that the shares have been subsequently issued and listed by the JSE as detailed
below.

Name of Director:               Mr MJ Miller
Name of Associate:              Disruptioncapital
Date of Transaction:            18 December 2025
Name of Company:                Mantengu
Number of Securities:           7 267 750
Class of Securities:            Ordinary shares
Nature of Transaction:          Issue
Price per Share:                46 cents (R0.46)
Nature of Interest:             Indirect beneficial
Extent of Interest:             2.29%
Value of Transaction:           R3 343 165.00
How traded:                     N/A – new issue of shares

Shareholder approval was received for the Specific Issue of Shares for cash, and the issue
of shares is to replace shares to the Share Provider thus there is no effective change in the
shareholding of the Share Provider. Furthermore, in terms of paragraph 3.63(x) of the JSE
Listings Requirements no clearance to deal is required.

By Order of the Board
19 December 2025

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 19-12-2025 11:30:00
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