MONTAUK RENEWABLES INC - Unaudited results for the six months ended 30 June 2021

Unaudited results for the six months ended 30 June 2021

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")


UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 June 2021

Dollar amounts presented herein are in United States Dollars.

SALIENT FEATURES
                                                             Six months    Six months
                                                                  ended         ended
                                                                30 June       30 June    Percentage
                                                                   2021          2020        change
Revenue                                            ($'000)       63 121        46 312           36%
EBITDA                                             ($'000)       (1 388)       11 396         (112%)
Headline (loss)/profit                             ($'000)      (18 483)        
(Loss)/earnings per share                              ($)        (0.13)        
Headline (loss)/earnings per common share              ($)        (0.13)        
Net asset value per common share                       ($)         1.15         


DECLARATION OF CASH DIVIDEND
The directors have not declared an interim dividend to focus financial resources on the 
continued development of the Company's operations portfolio.

USE OF NON-GAAP MEASURES
This report was prepared for the purpose of complying with the reporting requirements of the 
Johanesburg Stock Exchange and includes certain non-GAAP measures, such as headline earnings and
headline earnings per common share, and related reconciliations.  

Reconciliation of headline earnings
                                                            2021                            
                                                    Gross           Net              
                                                    $'000         $'000        
Net (loss)/profit attributable to common 
shareholders                                                    (18 917)                     
Adjustments                                                                
Loss on disposal of plant and equipment                22	     17       
Impairment of plant and equipment                     626           480    
Impairment of intangible assets                         -             -        
Third party compensation received in respect of 
impairment of plant and equipment                     (82)          (63)        
Headline earnings                                               (18 483)        
                                                                
Basic earnings per common share (US cents)   
Earnings                                                          (0.13)                        
Headline earnings                                                 (0.13)    
                                                                
Weighted average common shares outstanding ('000)(1)            141 015                           
	                    
                                                                
Diluted earnings per common share (US cents)       
Earnings                                                          (0.13)                        
Headline earnings                                                 (0.13)                        
                                                                
Weighted average common shares outstanding
for diluted earnings ('000) (1)                                 141 015                                    

(1)   The common stock outstanding as of June 30, 2021 is as reported in the quarterly report on Form 10-Q 
      for the period ending June 30, 2021, filed with the Securities and Exchange Commission 
      on August 16, 2021. 
     

DIRECTORS' STATEMENT
This short-form announcement is the responsibility of the Company's Board of Directors and is
a summary of the information in the detailed financial results announcement.

The financial information is only a summary and does not contain full details of the financial 
results. Any investment decisions by investors and/or stockholders should be based on information 
contained in the full announcement, accessible from 16 August 2021, via the JSE link 
https://senspdf.jse.co.za/documents/2021/jse/isse/MKRE/MKRQ2.pdf or on the SEC's website at 
https://www.sec.gov/Archives/edgar/data/1826600/000119312521247857/0001193125-21-247857-index.htm.
The full announcement is also available at the Company's registered office, the offices of the 
sponsor and may be requested at investor@montaukenergy.com or MNTK@GatewayIR.com free of charge to investors and/or 
shareholders, during office hours (09:00 - 17:00) from Mondays to Fridays.

17 August 2021 

Directors: JA Copelyn (Chairman)*###, SF McClain (Chief Executive Officer)#, 
MH Ahmed*, TG Govender*###, MA Jacobson*##, BS Raynor*#, Y Shaik*###
*Non-executive;  #United States of America;  ##Australia;  ### Republic of South Africa

Company secretary: J Ciroli

Registered office: 680 Andersen Drive, 5th Floor, Pittsburgh, PA 15220
Website: https://ir.montaukrenewables.com/

Sponsor: 
Investec Bank Limited


Date: 17-08-2021 04:22:00
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