MANTENGU LIMITED - Withdrawal of Cautionary Announcement_Proposed Acquisition Averi Finance Assets & Potential Reverse Takeover

Withdrawal of Cautionary Announcement_Proposed Acquisition Averi Finance Assets & Potential Reverse Takeover

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

WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT RELATING TO THE PROPOSED ACQUISITION
OF AVERI FINANCE ASSETS AND POTENTIAL REVERSE TAKEOVER

Shareholders are referred to the detailed cautionary announcement last renewed on SENS
on 21 September 2026 in relation to the proposed Acquisition of Averi Finance Assets
(“Acquisition”) and are advised that negotiations have been terminated by mutual
agreement to allow for Mantengu to complete its comprehensive review of its investment
portfolio together with optimising its chrome and platinum operations. The parties may re-
engage in discussions in 2027.

Accordingly, caution is no longer required to be exercised by Shareholders in relation to the
Acquisition when dealing in the Company’s securities.

By Order of the Board
2 November 2026

Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 02/11/2026 09:52:00
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