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Salungano Group Ltd is a holding company involved in the investment and management of its subsidiaries engaged in the mining, processing and trading of coal. • Mining division comprises 5 mines, namely Elandspruit, Khanyisa, Vanggatfontein, Moabsvelden, and Arnot, along with 2 processing plants, including the Wescoal and Vanggatfontein processing plants located in Mpumalanga. The run of mine reserves as at March 2022 was 51.8mt. • Trading division is made up of 3 depots and a logistics network covering South Africa. Coal products are distributed to clients in the power generation, manufacturing and petrochemicals sectors. Mining operations include: • Elandspruit Colliery is located 8 kilometres west of Middelburg in Mpumalanga and has a life of mine (LoM) of 3 years. The mine has a resource of 9.20m tons and a reserve of 8.92 million tons. • Khanyisa Complex Colliery is located 10km west of Ogies in Mpumalanga and has a LoM of 1 year. The mine has a resource of 1.15m tons and a reserve of 0.34m. • Vanggatfontein Colliery is located 16 km southeast of Delmas in Mpumalanga and has a LoM of 6 years. The mine has a resource of 20.96m tons and a reserve of 17.25m tons. • Moabsvelden Colliery is located 11km southeast of Delmas in Mpumalanga with an Opencast truck and shovel mining method and has a LoM of 9 years. The mine has a resource of 27.62m tons and a reserve of 24.84m tons. • Arnot Mine was acquired from Exxaro Coal Mpumalanga Proprietary Limited by Wescoal Mining Proprietary Limited in agreement with Innovators Resources Proprietary Limited in 2019. Arnot Mines' opencast and underground sections are set to contribute 190 million tonnes of coal reserves to the group (on a 100% basis). The mine is adjacent to Eskom Arnot power station which is at a cost-competitive advantage. The mine has reserves of 13 million tonnes in the initial mining sections and a total reserve of 190 million tonnes. Projects: • Leeuw Braakfontein Colliery is located approximately 10km east-south-east of Newcastle in KwaZulu-Natal on the Klip River Coalfield and is planned to predominantly be a bord and pillar underground operation targeting the top and bottom coal seams. • Sterkfontein Project is located approximately 5km southwest of Bethal in Mpumalanga and is an underground bord and pillar prospect that targets No. 4 Lower and No. 4 Upper of the Highveld Coalfield. • Braakfontein and Rietkuil Project (Vanggatfontein extension), located approximately 18km south-east of Delmas in Mpumalanga and contiguous to the Vanggatfontein Colliery.