Category 2 disposal announcement CHROMETCO LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/026265/06) Share code: CMO ISIN: ZAE007020249 (“Chrometco” or “the Company”) CATEGORY 2 DISPOSAL ANNOUNCEMENT 1. INTRODUCTION Shareholders are advised that on 18 April 2023 (“Signature Date”), the Company, through its majority-owned subsidiary Rooderand Chrome Proprietary Limited ("Rooderand”), entered into a sale of mining rights agreement (“Agreement”) with Mahlopi Metals Group Proprietary Limited (the beneficial owner of which is Lethwele Lister Makatoane (“Purchaser”). In terms of the Agreement, Rooderand will dispose of its rights to mine chrome mineral deposits (“Mining Rights”) to the Purchaser for a disposal consideration of R35 000 000 (“Disposal Consideration”) (“Disposal”). 2. DESCRIPTION OF THE ROODERAND AND THE MINING RIGHTS Rooderand owns the Mining Rights over the properties situated in the western limb of the Bushveld Igneous Complex in the North West Province, which was last mined in 2014 and is currently dormant. 3. RATIONALE FOR THE DISPOSAL The Mining Rights is a dormant asset of the Company and is unutilized and accordingly is being disposed of to fund the operations of the Company. 4. DISPOSAL CONSIDERATION 4.1. The total Disposal Consideration payable by the Purchaser for the Mining Rights is R35 000 000, allocated as follows- 4.1.1. R10 000 000 payable on the Signature Date; 4.1.2. R10 000 000 payable on or before 15 June 2023; 4.1.3. R10 000 000 payable on or before 15 August 2023; and 4.1.4. R5 000 000 payable 5 (five) Business Days after the fulfilment of the Condition Precedent. 5. APPLICATION OF THE DISPOSAL CONSIDERATION The Disposal Consideration will be applied to fund other operations within the Company’s group of companies. 6. CONDITIONS PRECEDENT The Disposal is subject to the fulfilment of the condition precedent (“Condition Precedent”) that the Mining Rights are transferred and/or granted to the Purchaser by the relevant authorities. The Condition Precedent must be fulfilled by not later than 30 June 2025, which date may be extended by the parties in writing. 7. EFFECTIVE DATE OF THE DISPOSAL The effective date of the Disposal will be 5 (five) Business Days after the fulfilment of the Condition Precedent. anticipated as 5 July 2025. 8. FINANCIAL INFORMATION The value of the Mining Rights as at 31 March 2023, being the date of the latest unpublished management accounts of Rooderand, was R90 104 505. The loss before tax attributable to the Mining Rights for the period ended 28 February 2023, was R664 247, based on unpublished management accounts of Rooderand, which were prepared in terms of IFRS. The Company is satisfied with the quality of the management accounts of Rooderand, however, shareholders are warned that they are unaudited. 9. WARRANTIES AND OTHER SIGNIFICANT TERMS OF THE AGREEMENT The Mining Rights are sold voetstoots, and the Company gives no warranties or guarantees in respect thereof whatsoever and will not be held liable for any damages arising from same. 10. CLASSIFICATION OF THE DISPOSAL The Disposal Consideration represents more than 5% but less than 50% of Company’s market capitalisation as at the Signature Date and accordingly the Disposal constitutes a category 2 transaction in terms of the JSE Limited Listings Requirements. Johannesburg 18 April 2023 Designated Adviser PSG Capital Date: 18-04-2023 03:14:00 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.