MANTENGU LIMITED - Appointment of Magen Naidoo as Deputy Chief Executive Officer

Appointment of Magen Naidoo as Deputy Chief Executive Officer

MANTENGU LIMITED
(formerly Mantengu Mining Limited)
Incorporated in the Republic of South Africa
(Registration number: 1987/004821/06)
Share code: MTU ISIN: ZAE000320347
("MTU" or "the Company")

APPOINTMENT OF MAGEN NAIDOO AS DEPUTY CHIEF EXECUTIVE OFFICER

In compliance with paragraph 3.59 of the JSE Listings Requirements, the Company wishes
to inform its shareholders that Magen Naidoo ("Naidoo") will expand on his current role of
Chief Financial Officer ("CFO") to include that of Deputy Chief Executive Officer ("D-CEO")
as part of the Company's strategy to address any potential risks associated with Mike Miller
("Miller"), the Chief Executive Officer ("CEO"). Considering the recent death threats
levelled against Miller, the board of directors (the "Board") wishes to reassure all
stakeholders that succession planning, and operational continuity is a Company priority
and it is, therefore, fully supportive of this contingency.

Miller remains as the CEO of the Company and each operating subsidiary in the group has
its own CEO and management team who run their respective businesses on a day-to-day
basis.

Naidoo will remain the full-time CFO of the Company but will fulfil the role and responsibility
of the D-CEO in any instance where Miller is unable to attend physically to his duties or in
the event that Miller can no longer fulfil the CEO role. As this is a contingency and potential
succession plan it is currently not expected to take up any additional time by Naidoo and
is not expected to detract from Naidoo's responsibilities and abilities to fulfil the CFO
function.

Naidoo has been the CFO of the Company since March 2023 and has been actively
involved in the acquisitions and operations of the group. The Board believes that there is
no better candidate to support Miller should the need arise.

Mantengu has always upheld, and will continue to uphold, the highest standard of ethics
and governance in its endeavour to serve its shareholders, stakeholders and the Company.

Johannesburg
16 October 2025

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 16-10-2025 02:24:00
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