Mantengu®

Next Generation Mining

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")

RENEWAL OF CAUTIONARY ANNOUNCEMENT RELATING TO THE PROPOSED ACQUISITION OF AVERI FINANCE ASSETS AND POTENTIAL REVERSE TAKEOVER TRANSACTION ("ACQUISITION")

Shareholders are referred to the detailed cautionary announcement published on SENS on 20 May 2026 and are advised that negotiations are progressing well. The proposed transaction creates compelling strategic value for Mantengu shareholders in the form of diversified revenue streams, exposure to the oil and gas and renewable energy industries together with the requisite Pan African geographical exposure.

Mantengu has engaged Bowmans to advise it in relation to all legal and regulatory aspects of the Acquisition, including the due diligence process which is underway. Bowmans is a pre-eminent pan-African legal firm with the proven necessary skills and capacity to advise on a transaction of this nature.

The Board will keep shareholders updated as important milestones during the Acquisition are reached.

Shareholders are advised that the above Acquisition, if successfully concluded, may have a material effect on the price of the Company's securities. Accordingly, shareholders are advised to exercise caution when dealing in their securities until a further announcement is made.

By Order of the Board
2 July 2026

Designated Advisor
AcaciaCap Advisors Proprietary Limited