Supplementary Target’s Statement in response to the Off-Market Takeover Bid - Do Not Accept MC Mining Limited Previously Coal of Africa Limited (Incorporated and registered in Australia) Registration number ABN 008 905 388 ISIN AU000000MCM9 JSE share code: MCZ ASX/AIM code: MCM ANNOUNCEMENT 18 March 2024 SUPPLEMENTARY TARGET'S STATEMENT IN RESPONSE TO THE OFF-MARKET TAKEOVER BID - DO NOT ACCEPT MC Mining Limited (ASX: MCM) (MC Mining or the Company) advises that it has released its Supplementary Target's Statement (with the accompanying Independent's Expert Report) in response to the A$0.16 cash per share off-market takeover bid by Goldway Capital Investment Limited (Takeover Offer). The Supplementary Target's Statement contains the Independent Expert's Report prepared by BDO Corporate Finance (WA) Pty Ltd ACN 124 031 045 (BDO) as Independent Expert. The Independent Expert concluded that the Takeover Offer is neither fair nor reasonable to Shareholders. The Independent Board Committee (IBC) continues to unanimously recommend that Shareholders DO NOT ACCEPT the Takeover Offer. A copy of the Supplementary Target's Statement, including the Independent Expert's Report is available on the ASX website, www.asx.com.au, and on MC Mining's website, www.mcmining.co.za, as will news of any other developments in relation to the Takeover Offer. Shareholders are encouraged to read the Supplementary Target's Statement in its entirety, and discuss it with their legal, financial and professional advisers. If you have any queries in relation to the Takeover Offer, please call the Target Shareholder Line on +61 461 444 038 between 9.00am and 7.00pm (Sydney time) on Business Days (if calling from within Australia) and prior to 1pm (Johannesburg time) and 11am (London time). The Takeover Offer will remain open until 7:00pm (Sydney time) on 5 April 2024, unless the Offer is extended or withdrawn by Goldway. The IBC look forward to your continuing support as we respond to the Takeover Offer. Khomotso Mosehla Chairman of the IBC The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended. This announcement has been approved for release by the Company's Disclosure Committee. For more information contact: Tony Bevan Company Secretary Endeavour Corporate Services +61 42 1072 165 Company advisers: Richard Johnson / Nominated Adviser Strand Hanson Limited +44 20 7409 3494 Rob Patrick Rory Scott Broker (AIM) Tennyson Securities +44 20 7186 9031 Marion Brower Financial PR (South Africa) R&A Strategic Communications +27 11 880 3924 BSM Sponsors Proprietary Limited is the nominated JSE Sponsor About MC Mining Limited: MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South Africa. MC Mining's key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard coking coal), Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and thermal coal). Date: 18-03-2024 09:00:00 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.