MONTAUK RENEWABLES INC - Montauk Renewables, Inc. to Develop Renewable Natural Gas Facility in Orange County, California

Montauk Renewables, Inc. to Develop Renewable Natural Gas Facility in Orange County, California

MONTAUK RENEWABLES, INC.
Incorporated in the United States of America
Company number: 85-3189583
NASDAQ share code: MNTK
JSE share code: MKR
ISIN: US61218C1036
(“Montauk Renewables” or the “Company”)



Montauk Renewables, Inc. to Develop Renewable Natural Gas Facility in Orange County, California


PITTSBURGH, PENNSYLVANIA—BUSINESS WIRE
(https://www.businesswire.com/portal/site/home/) —Montauk Renewables, Inc. (NASDAQ: MNTK),
through its subsidiary, Bowerman Power LFG, LLC (the “Company”), today announced its planned
development of a renewable natural gas (“RNG”) landfill gas project in Irvine, CA at the Frank R.
Bowerman Landfill (the “Project”).

After approval of required environmental review (“CEQA”), this planned Project will be the second
landfill gas-to-energy project developed by the Company in Orange County and will operate in addition
to the approximately 20MW Renewable Electric Generation (“REG”) facility commissioned in 2016.
The Project is anticipated to process the large and growing volumes of biogas in excess of the existing
capacity of the REG facility. With a targeted commissioning date in 2026, the Company currently
expects the Project capital investment to range between $85 - $95M, which is anticipated to have
production nameplate capacity of approximately 3,600 MMBtu per day, assuming currently forecasted
biogas feedstock volumes that are projected to be available from the host landfill at the time of
commissioning.

“Montauk is proud to announce this significant milestone as we continue to expand our treasured
relationship with the County of Orange,” said Sean McClain, President and CEO. “All aspects of this
exciting opportunity, including the potential for enhanced wellfield automation, shared responsibility for
the wellfield collection system, and the 20-year extension of our gas rights upon commissioning of the
new RNG facility highlight Montauk’s commitments to the environment. In addition, Montauk remains
dedicated to further developing its long-standing relationships with exemplary host businesses, such as
the County of Orange, and their operation of the Frank R. Bowerman Landfill.”

The County of Orange will benefit from enhanced sustainability initiatives, beneficial utilization of
current and projected available biogas, and expected increases in royalty revenues. “Our project with
Montauk supports the circular economy by taking a waste product and producing renewable natural gas
that can be used to power vehicles, heat homes and generate electricity in our communities,” said OCWR
director, Tom Koutroulis. “More importantly, the project further protects public health and the
environment by creating a sustainable source of energy that reduces greenhouse gas emissions,”
Koutroulis added.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the
management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it
from being released into the atmosphere, and converts it into either RNG or electrical power for the
electrical grid (“Renewable Electricity”). The Company, headquartered in Pittsburgh, Pennsylvania, has
more than 30 years of experience in the development, operation and management of landfill methane-
fuelled renewable energy projects. The Company has current operations at 15 operating projects located
in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina and Texas. The Company sells RNG
and Renewable Electricity, taking advantage of Environmental Attribute premiums available under
federal and state policies that incentivize their use. For more information, visit
https://ir.montaukrenewables.com


Company Contact:
John Ciroli
Chief Legal Officer and Secretary
investor@montaukenergy.com
(412) 747-8700

Investor Relations Contact:
Georg Venturatos
Gateway Investor Relations
MNTK@GatewayIR.com
(949) 574-3860

Pittsburgh, PA USA
28 June 2023
Sponsor
Investec Bank Limited


Safe Harbor Statement

This release contains forward-looking statements regarding our planned development on a new facility in
California and the expected production capacity and capital expenditures associated therewith.

Forward-looking statements are necessarily subject to numerous assumptions, risks and uncertainties,
which change over time. Future events or circumstances may change our expectations and may also affect
the nature of the assumptions, risk and uncertainty to which our forward-looking statements are subject.
The forward-looking statements in this release speak only as of the date of this release, and we assume no
duty, and do not undertake, to update them. Actual results or future events could differ, possibly
materially, from those that we anticipated in these forward-looking statements. As a result, we caution
against placing undue reliance on any forward-looking statements.

Forward-looking statements are subject to risks, uncertainties and other factors, many of which are
beyond the Company’s control and are difficult to predict, including, without limitation, risks related to
the acquisition, financing, construction and development of new projects and the other risk factors
described in more detail in the Company’s 2022 Form 10-K and other filings with the U.S. Securities and
Exchange Commission at www.sec.gov. We have included this web address as inactive textual reference
only. Information on this website is not part of this document.

Date: 28-06-2023 09:21:00
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