Master Drilling : Integrated Annual Report, Notice of Annual General Meeting, No Change Statement and B-BBEE Annual Compliance Report

Master Drilling Group Limited

(Incorporated in the Republic of South Africa) (Registration number 2011/008265/06)

JSE share code: MDI

ISIN: ZAE000171948

("Master Drilling" or "the Company" or "the Group")

INTEGRATED ANNUAL REPORT, NOTICE OF ANNUAL GENERAL MEETING, NO CHANGE STATEMENT AND B-BBEE ANNUAL COMPLIANCE REPORT

• 1. Integrated Annual Report

  Master Drilling shareholders are advised that the Integrated Annual Report of the Company for the year ended 31 December 2021 ("Integrated Annual Report"), which incorporates the audited summarised consolidated annual financial statements and the notice of the Annual General Meeting, will be distributed to Master Drilling shareholders today, 20 April 2022. The Integrated Annual Report and the full set of the audited Group annual financial statements are also available on the Company's website(www.masterdrilling.com). The audited summarised consolidated annual financial statements contain no changes from the abridged audited consolidated annual results for the year ended 31 December 2021 released on the Stock Exchange News Service of the JSE Limited on 22 March 2022.

  The annual financial statements are audited by BDO South Africa Incorporated whose unqualified audit report is contained in the Integrated Annual Report and is also available onwww.masterdrilling.com.

• 2. Notice of Annual General Meeting

  Notice is hereby given that the tenth annual general meeting of Master Drilling will be held (subject to any adjournment, postponement or cancellation thereof) at the BDO offices, Wanderers Office Park, 52 Corlett Drive, Illovo, Johannesburg on Monday, 13 June 2022 at 09:00 to transact the business as stated herein including to consider and, if deemed fit, pass, with or without modification, the resolutions as set out in the annual general meeting notice contained in the Integrated Annual Report.

• 3. Record dates, voting and proxies

  The Board of Directors of the Company ("Board") has determined, in accordance with sections 59(1) (a) and (b) of the Companies Act, that:

  • • the record date for the purposes of receiving notice of the annual general meeting (being the date on which a shareholder must be registered in the Company's register of shareholders in order to receive notice of the annual general meeting), shall be the close of business on Friday, 8 April 2022 (Notice Record Date);

  • • the record date for the purposes of participating in and voting at the annual general meeting (being the date on which a shareholder must be registered in the Company's register of shareholders in order to participate in and vote at the annual general meeting), shall be the close of business on Friday, 3 June 2022 (Voting Record Date);

  • • the last day to trade for purposes of participating in and voting at the annual general meeting shall be the close of business on Tuesday, 31 May 2022; and

• • the date by which forms of proxy for the annual general meeting are requested to be lodged is, for administrative purposes, 09:00 on Friday, 10 June 2022. Any forms of proxy not lodged by this date must be submitted to the Chairman of the annual general meeting immediately prior to the commencement of the meeting. The Chairman may reject or accept any form of proxy which is completed and/or received otherwise than in accordance with the proxy notes, provided that he is satisfied as to the manner in which the shareholder concerned wishes to vote.

4.

Broad Based Black Economic Empowerment Act (the "B-BBEE Act"): Annual Compliance Report

In compliance with paragraph 16.21 (g) and Appendix 1 to Section 11 of the JSE Listing Requirements, notice is hereby given that the Company's annual compliance report in terms of section 13G (2) of the B-BBEE Act has been published and is available on the Company's website athttps://masterdrilling.com.

Fochville

20 April 2022

Sponsor

Investec Bank Limited