MC Mining (MCM) investor relations material

Executive summary

• Makhado Project construction advanced, with coal plant commissioning and power line completion scheduled for Q2 2026; project aims for 800,000 tonnes/year HCC output and 28-year mine life.

• Uitkomst Colliery operations suspended from March 2026 due to underperformance and cash losses; strategic options under review.

• Vele Colliery remains suspended pending a new business plan; logistics solutions under investigation.

• Health and safety improved, with only one LTI group-wide and no environmental incidents at key sites.

Financial highlights

• Available cash and facilities at period end: $5.4 million, up from $2.9 million in previous quarter.

• Net cash used in operating activities: $(4.3) million for the quarter; $(10.9) million year-to-date.

• Net cash used in investing activities: $(10.6) million for the quarter; $(29.0) million year-to-date.

• Net cash from financing activities: $17.4 million for the quarter; $37.8 million year-to-date.

• Kinetic Development Group invested $19 million in equity during the quarter, with a further $6 million post-quarter, now holding 51% equity.

Outlook and guidance

• Makhado Project hot commissioning and coal plant start-up expected in May 2026.

• Funding plans, including recent equity and loans, expected to cover cashflow needs until Makhado generates revenue.

• Strategic review of Uitkomst Colliery ongoing, with potential partnerships or asset disposals considered.