Unaudited condensed interim consolidated financial results for the three and six months ended 30 June 2021 Buffalo Coal Corp. Incorporated in Canada and the Republic of South Africa (Registration number: 2011/011661/10) Share code TSX Venture Exchange: BUF Share code JSE Limited: BUC ISIN: CA1194421014 (“Buffalo Coal Corp.” or “the Group” or “the Company”) Unaudited condensed interim consolidated financial results for the three and six months ended 30 June 2021 Introduction: Buffalo Coal Corp. is a coal mining and supply company operating in the Republic of South Africa (“South Africa”). The Company is primarily listed on the TSX Venture Exchange and has a secondary listing on the Alternative Exchange operated by the JSE Limited. The Company owns 100% of the shares in Buffalo Coal Dundee Proprietary Limited (“BC Dundee”), a South African company, with an interest in two operating coal mines in South Africa (“the BC Dundee Properties”). BC Dundee indirectly holds a 70% interest in the BC Dundee Properties through its 70% interest in Zinoju Coal Proprietary Limited (“Zinoju”), which holds all of the mineral rights with respect to the BC Dundee Properties. The remaining 30% interest in Zinoju is held by South African Black Economic Empowerment partners. The BC Dundee Properties are comprised of the Aviemore anthracite mine and the Magdalena bituminous mine. Operational review and results: The interim financial results of the Group for the three and six months ended 30 June 2021 (the “Interim Results”), as compared to the three and six months ended 30 June 2020 (the “Comparative Period”), are set out below: 6 months ended 3 months ended June 30, June 30, June 30, June 30, 2021 2020 2021 2020 % % variance variance R R Key financials R R Revenue 174 278 415 201 657 753 (14%) 93 104 089 74 472 661 25% (Loss) / profit from operations (41 772 421) (69 390 768) (40%) 10 894 929 27 976 158 (61%) (Loss) / earnings per share - basic and diluted (0.31) (0.21) (35%) 0.01 0.04 (79%) Headline (loss)/earnings per share - basic and diluted (0.31) (0.21) (35%) 0.01 0.04 (79%) Normalized headline (loss) / earnings per share - basic and diluted (0.31) (0.21) (35%) 0.01 0.04 (79%) No dividends were declared or paid during the period under review or during the Comparative Period. This announcement does not include the information required pursuant to paragraph 16A(j) of IAS 34 Interim Financial Reporting. This short-form announcement, which is the responsibility of the board of directors of the Company, is only a summary of the information in the full announcement (being the detailed unaudited condensed interim financial results for the three and six months ended 30 June 2021) ("Full Announcement”) and therefore does not contain full or complete details. Any investment decisions by investors and / or shareholders should be based on consideration of the Full Announcement and the management’s discussion and analysis document for the three and six months ended 30 June 2021, which may be downloaded from: https://senspdf.jse.co.za/documents/2021/jse/ISSE/BUC/Jun21Quart.pdf or the Company’s website at: http://www.buffalocoal.co.za/investors and may also be requested from the Company by contacting info@buffalocoal.co.za during ordinary business hours, for a period of 30 calendar days following the date of this announcement. 19 August 2021 Designated Advisor: Questco Corporate Advisory Proprietary Limited Date: 19-08-2021 05:29:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.