Abridged audited financial results for the year ended 31 December 2021 HWANGE COLLIERY COMPANY LIMITED (Incorporated in Zimbabwe under registration number 381/1954) ZSE Share Code: HCCL JSE Share Code: HWA LSE Share Code: HWA ISIN: ZW0009011934 (“Hwange” or “the Company”) Abridged audited financial results for the year ended 31 December 2021 Introduction to the Company The Company’s principal activities are exploration, mining, processing of coal and the production of coke and related by-products in the north western part of Zimbabwe, Hwange District in the Matabeleland North Province. The Company remains under administration in terms of the Reconstruction of State-Indebted Companies Act (Chapter 24:27). The appeal by the Minister of Justice, Legal and Parliamentary Affairs to the Supreme Court in the matter of the confirmation of the Reconstruction Order remains pending, and administration continues as normal. Auditors Statement These summary financial statements should be read in conjunction with the complete set of financial statements for the year ended 31 December 2021, which have been audited by Grant Thornton Chartered Accountants (Zimbabwe), in accordance with International Standards on Auditing and are available for downloading on the following website: https://www.zse.co.zw/wp-content/uploads/2022/05/HCCL.zw-2021-FY-Financial-Results-Audit- Report.pdf. The auditors have issued an adverse audit opinion (Opinion”) on the inflation adjusted financial statements with respect to non-compliance with International Accounting Standard (IAS) 21 - The Effect of Changes in Foreign Exchange Rates, International Accounting Standard (IAS) 29 – Financial Reporting in Hyper-inflationary Economies, going concern, financial results of equity accounted investments and inventory for some of the divisions in the Company. The Opinion is available on the following website: https://www.zse.co.zw/wp-content/uploads/2022/05/HCCL.zw-2021-FY-Financial-Results-Audit- Report.pdf The Auditors have included a section on key audit matters. The key audit matters were with respect to the allowances for credit losses and, valuation of inventory and revenue recognition. The auditor’s report on the inflation adjusted financial statements which form the basis of these financial results is available for inspection at the Company’s registered office. The Engagement Partner on the audit resulting in this auditor’s report is Farai Chibisa (PAAB Number 0547). Full Announcement This short-form announcement is the responsibility of the Administrators of the Company and is a summary of the information in the full announcement which is available for viewing on the following website: JSE website: https://senspdf.jse.co.za/documents/2022/jse/isse/hwae/hwa2022.pdf Any investment decision by investors and/or shareholders should be based on consideration of the full announcement, copies of which are also available for inspection at our offices (ppfunye@dmh.co.zw) on work-days during business hours, at no charge: On behalf of the Administration Board Zimbabwe 20 May 2022 JSE Sponsor to Hwange Questco Corporate Advisory Proprietary Limited Date: 20-05-2022 08:30:00 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.