Update: Business Rescue Application of a wholly-owned Subsidiary SALUNGANO GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 2005/006913/06) Share code: SLG ISIN: ZAE000306890 ("Salungano Group" or "the Company") UPDATE: BUSINESS RESCUE APPLICATION OF A WHOLLY-OWNED SUBSIDIARY Shareholders are referred to the 'Further Cautionary Announcement and Renewal of Wescoal Mining Cautionary' announcement released on SENS on 27 February 2024 ("Further Cautionary Announcement") regarding the application to place Keaton Mining Proprietary Limited ("Keaton Mining"), a wholly-owned subsidiary of the Company's wholly-owned subsidiary, Keaton Energy Holdings Limited, under supervision and to commence business rescue proceedings ("Business Rescue Application"), and are hereby advised that the matter has been heard on an urgent basis on 28 March 2024. Judgment in the matter was delivered on 2 April 2024, in terms whereof the Business Rescue Application was dismissed. Having considered the merits of the judgment, a notice of appeal against the judgment will be lodged on 3 April 2024. Shareholders will be kept informed of the outcome of the aforementioned appeal proceedings by way of further SENS announcements. Shareholders are reminded that Keaton Mining comprises solely of the operations of the Salungano Group of companies ("the Group") located at the Vanggatfontein Colliery in Mpumalanga and does not represent the main revenue-generating operations of the Group located at the Moabsvelden Colliery, under the subsidiary Neosho Trading 86 Proprietary Limited. As set out in the Further Cautionary Announcement, production at the Vanggatfontein Colliery continues. Johannesburg 3 April 2024 Sponsor Merchantec Capital Date: 03-04-2024 10:55:00 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.