MANTENGU LIMITED - RETRACTION OF RESIGNATION BY AUDITOR, ADDITIONAL AUDIT PROCEDURES AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

RETRACTION OF RESIGNATION BY AUDITOR, ADDITIONAL AUDIT PROCEDURES AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

MANTENGU LIMITED
(formerly Mantengu Mining Limited)
Incorporated in the Republic of South Africa
(Registration number 1987/004821/06)
Share code: MTU ISIN: ZAE000320347
(“Mantengu” or “the Company”)


RETRACTION OF RESIGNATION BY AUDITOR, ADDITIONAL AUDIT PROCEDURES AND RENEWAL OF
CAUTIONARY ANNOUNCEMENT


Introduction
Shareholders are referred to the cautionary announcement released on SENS on 27 August 2026 (the
"Previous Announcement") in which the Company advised that its auditor, HLB CMA South Africa
Incorporated ("HLB"), had:

•   withdrawn its independent auditor's report dated 23 June 2026 (the "Original Report") on the
    Company's consolidated and separate annual financial statements for the year ended
    28 February 2026 (the "2026 AFS"); and
•   resigned as auditor of the Company with immediate effect, by letter dated 26 August 2026 (the
    "Resignation Letter").

Retraction of resignation by auditor
Following discussions and correspondence between the Company and HLB, HLB has, by letter dated
30 September 2026, retracted the Resignation Letter with immediate effect and resumed its role as
auditor of the Company. The retraction was accepted by the Company's Combined Audit and Risk
Committee (the "Committee") on 30 September 2026.

The retraction, and HLB's resumption of its role as auditor, is for the sole and limited purpose of
enabling HLB to complete the work necessary to reissue an audit report on the 2026 AFS, addressing
the deferred tax asset matter referred to in the Previous Announcement, in place of the Original
Report. The retraction does not affect HLB's statutory and regulatory obligations in terms of the
Auditing Profession Act 26 of 2005.

Additional audit procedures
HLB will attend to the matters necessary before reissuing an audit report on the 2026 AFS. These
include:
• completing additional audit procedures on the recognition and recoverability of the deferred
  tax assets recognised by the Group;
• obtaining an updated management representation letter;
• performing an updated subsequent events review;
• agreeing the factual and financial information relevant to, and the wording of, any additional
  qualification; and
• obtaining engagement quality review sign-off.

Once these matters have been completed, HLB will issue a reissued audit report on the 2026 AFS in
place of the Original Report. A further announcement will be made once the additional procedures
have been completed.

Status of the 2026 AFS
The retraction by HLB relates only to the Resignation Letter and does not affect HLB's withdrawal of
the Original Report. The Original Report accordingly remains withdrawn and should not be relied
upon, and the 2026 AFS remain unaudited until such time as HLB issues a reissued audit report. As
previously announced, the Board stands by the 2026 AFS as published.

Further announcements
Once HLB has issued its reissued audit report, the Company will release a further announcement on
SENS. That announcement will set out any changes to the audit opinion.

The integrated annual report, including the reissued audit report, will then be republished on the
Company's website at www.mantengu.com/investor-relations.

Renewal of cautionary announcement
Until HLB has reissued its audit report and the further announcement referred to above has been
published, shareholders are advised to continue exercising caution when dealing in the Company's
securities.


By Order of the Board
30 September 2026

Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 30/09/2026 05:08:00
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