Minergy Limited

(Incorporated in accordance with the laws of Botswana)

(Company Number: BW00001542791)

www.minergycoal.com

("Minergy" or "the Company")

Minergy wishes to inform the market that its Chief Executive Officer ("CEO") Mr. Morné du Plessis has tendered his resignation to pursue other interests.

Mr. du Plessis will remain available and dedicated to Minergy during his notice period ending 30 November 2023.

The Board and executive management of Minergy wish to thank Mr. du Plessis for his invaluable contribution to Minergy. He was instrumental in establishing Minergy and was appointed to the Board of Directors in January 2017, serving as its first Chief Financial Officer. He took on the CEO role in August of 2019 and oversaw the development of a fully functional and operational opencast coal mine from greenfields.

"Under his leadership, Minergy made history by becoming the first Botswana opencast coal mine to export product via rail to regional markets, and to ship coal from the Walvis Bay port to international markets. The Minergy brand has successfully been established by Mr. du Plessis and his team while pioneering the coal industry in Botswana. The company wishes Mr. du Plessis the best in his future endeavours and thanks him for implementing solid structures, processes, and social responsibility initiatives.," said Independent Chairman, Mokwena Morulane.

Minergy's Board will begin the search for a suitable replacement for Mr. du Plessis, and the company will provide further updates as soon as possible.

The Board further wishes to advise that the Minerals Development Company Botswana ("MDCB") and Minergy have agreed on the secondment of MDCB's Chief Technical Officer Mr. Matthews Bagopi to Minergy Coal effective

1 September 2023 to ensure augmented management capacity at the mine and ensure business continuity. An alumnus of Camborne School of Mines, Mr. Bagopi is a seasoned mining professional with over 30 years of experience in the industry in various mining commodities, starting his career at graduate level and ascending to executive management. Mr Bagopi has been instrumental and at the leading edge of developing coal markets for Botswana coal at Morupule Coal Mine in the region as well as internationally. He brings forth a well-established network of strategic partnerships and collaborations in the industry, ranging from operations, technical, commercial and business development, projects development, having paved the path for the development of MCM corporate strategy, before joining the MDCB as Chief Technical Officer, overseeing technical aspects of MDCB's mining investment.

By Order of the Board

Mokwena Morulane

Independent Chairman

28 August 2023

Minergy Limited | Pinnacle Park | Building 3 Ground Floor Unit 2 | Plot 75782 | Setlhoa | PO Box 2330 ABG | Broadhurst |Gaborone Tel: +267 397 2891 | Fax: +267 397 2893

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Sponsoring Broker: Imara Capital Securities (Pty) Ltd | Unit 1E | Ground Floor Peelo Place | Plot 54366 | Western

Commercial Road New CBD | Gaborone | Tel: +267 318 8710

Transfer Secretaries: Corpserve Botswana | Unit 206 | 2nd Floor | Plot 64516 | Fairgrounds | Gaborone Tel: +267 393

2244 | Email: contactus@corpservebotswana.com

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Minergy Ltd. published this content on 28 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2023 08:36:07 UTC.