Mr Bernard Pryor will step down as Chairman of the Board of MC Mining Limited (MC Mining or the Company) on Friday, March 11, 2022, at 5 p.m. Western Australian Standard Time. Mr Khomotso Mosehla, a long-serving non-executive director, has been named temporary Chairman pending the conclusion of the shareholder requisitioned meeting on April 11, 2022. Mr. Pryor joined the Company in August 2012 as a Non-Executive Director before becoming Chairman in February 2014. MC Mining was in a fragile financial position at the time of his initial appointment, with enormous debt and multiple loss-making coal mines. With a vast coal resource base, significantly reduced debt, and a newly announced South African Rand 86 million capital raising deal with Senosi Group Investment Holdings Proprietary Limited, the Company is now on a more stable foundation (SGIH). “I am leaving the Board of MC Mining at a hugely positive time for the Company,” Mr Pryor stated. The Company is well positioned to finalise the Makhado financing and set on a path to generate value for all stakeholders, thanks to SGIH’s recent investment and, in particular, the coal experience and skills they bring to the Company, as well as completing the land acquisition for the Makhado project at a time of strong coal prices. This has been long delayed, but there have been various roadblocks along the way. As a stakeholder, I wish the company the best of luck in the future.” “The MC Mining board expressed their sincere appreciation to Mr Pryor for his role in helping to steer the company through some turbulent periods and wish him every success in his future endeavours.” said Mr Khomotso Mosehla, the company’s newly a
