Ann: Implied Threat to Mineral Rights in South Africa, page-4

The Company congratulates the President of South Africa for signing the Upstream Petroleum
and Resources Development Act into law on the 25th of October 2024, with the date of
commencement thereof to be proclaimed. This Act notably expands the definition of petroleum
to include "associated liquid or gas, any liquid or solid hydrocarbon or combustible gas,"
which effectively categorizes helium as an associated gas of petroleum rather than a mineral.
Additionally, helium does not qualify as a "mineral" under the current definition contained
in the Mineral and Petroleum Resources Development Act (“MPRDA”) rendering the appeal
by SSPP to Tetra4’s right to helium without merit, as the helium cannot be separated from
petroleum underground prior to its extraction. More importantly, helium is not produced by a
geological process but rather through a result of radioactive decay, which is a physical process
or nuclear process.
Regardless of the outcome of the appeal against the explicit inclusion of helium into Tetra4’s
Production Right, SSPP commenced construction without obtaining a valid Section 53 consent
in an area where Tetra4 has held an undisputed onshore Petroleum Production Right