Coal of Africa Ltd (CZA) – Project updates

Updates

• Rail allocation secured with Transnet Freight Rail (“TFR”) for the Mooiplaats Thermal Coal Project to meet Company’s 3 million tonne port allocation at Richards Bay

• Current cash of A$ 225 million, no debt

• First coal cut at Mooiplaats and development of underground access portals progressing according to schedule

• Vele Project mining plan revised to include both opencast and underground mining, generating better yields, lower operating costs and an extended mine life

• Independent Power Producer (“IPP”) submissions relating to both the Vele and Makhado Projects shortlisted by Eskom

• Reviewing the potential of a Main Board listing on the London Stock Exchange