MC MINING LIMITED - Issue of shares under the Performance Rights Plan

Issue of shares under the Performance Rights Plan

MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM

31 March 2023

ISSUE OF SHARES UNDER THE PERFORMANCE RIGHTS PLAN

MC Mining Limited (MC Mining or the Company) announces the issue of 1,983,613 new ordinary shares of no
par value in the Company's capital (Ordinary Shares) subsequent to the receipt of South African regulatory
approval for the issue of the new Ordinary Shares. The new Ordinary Shares have been issued following the
vesting, on the commissioning of the Vele Colliery coal processing plant in December 2022, of 1,602,393 special
incentive performance rights. The remaining 381,220 new Ordinary Shares have been issued following
satisfaction of the vesting conditions for performance rights granted to management in November 2019.

Certain of the Ordinary Shares have been issued to the following non-Board persons discharging managerial
responsibilities (PDMRs):

                              PDMR                       New Ordinary Shares

                              Stephen Rowse                     288,847

                              Florence Duval                    557,688



Admission and Total Voting Rights

Application has been made for the new Ordinary Shares to be admitted to trading on the ASX, AIM and JSE
markets (Admission). Admission of the new Ordinary Shares to trading on AIM is expected to become effective
at 8:00 a.m. on or around 3 April 2023 and on the JSE on or around 9:00 a.m. on 3 April 2023, and the new
Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

On Admission, MC Mining's issued share capital shall comprise 399,665,202 Ordinary Shares. This figure may be
used by shareholders in the Company as the denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their interest in, the share capital of the Company
under the ASX Listing Rules or the FCA's Disclosure Guidance and Transparency Rules.

For and on behalf of

MC Mining
Tony Bevan
Company Secretary
For more information contact:


 Tony Bevan                     Company Secretary       Endeavour Corporate                 +61 08 9316 9100
                                                        Services

 James Harris / James           Nominated Adviser       Strand Hanson Limited               +44 20 7409 3494
 Dance

 Rory Scott                     Broker (AIM)            Tennyson Securities                 +44 20 7186 9031

 Marion Brower                  Financial PR (SA)       R&A Strategic                       +27 11 880 3924
                                                              Communications

 BSM Sponsors Proprietary Limited is the nominated JSE Sponsor

About MC Mining
MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South Africa. MC
Mining’s key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard coking coal),
Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and thermal coal).

1.     Details of the person discharging managerial responsibilities / person closely associated

a)     Name                                                  1.     Stephen Rowse
                                                             2.     Florence Duval

2.     Reason for the Notification

a)     Position/status                                       1.     PDMR (non-Board)
                                                             2.     PDMR (non-Board)

b)     Initial notification/amendment                   Initial notification

3.     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)     Name                                             MC Mining Limit ed

b)     LEI                                              213800G6YDVUTU9NEP37

4.     Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction;
       (iii) each date; and (iv)each place where transactions have been conducted

a)     Description of the Financial instrument,         Ordinary Shares
       type of instrument

       Identification code                              AU000000MCM9

b)     Nature of the Transaction                        Issue of vested Performance Rights shares

c)     Price(s) and volume(s)                            Price(s)                           Volume(s)
                                 -                         1. 288,847

                                 -                         2. 557,688


d)   Aggregated information     N/A (Single transaction)

     Aggregated volume Price

e)   Date of the transaction    31 March 2023

f)   Place of the transaction   ASX

Date: 31-03-2023 09:30:00
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