Ferrovanta Mining Services – Business Plan

Investment-grade business plan for Ferrovanta Mining Services (Pty) Ltd — a ZAR 9.5-billion raise to build a pan-African contract mining platform headquartered in Johannesburg, scaling revenue from ZAR 4.0 billion to ZAR 21.2 billion by Year 7 at a base-case 30.4% equity IRR and a 4.2× money multiple over a 7-year hold.

Confidential Investment Memorandum

Ferrovanta Mining Services

A newly constituted, institutionally backed pan-African contract mining platform headquartered in Johannesburg — capturing the structural outsourcing of mining services by major mining houses through integrated load-and-haul, drill-and-blast and full mine-operation capability, with long-duration contracts and consolidation upside — structured as an investment-grade ZAR 9.5-billion opportunity for development-finance institutions, private equity and institutional investors.

Legal Entity
Ferrovanta Mining Services (Pty) Ltd
Registered Office
Sandton, Johannesburg
Capital Raise
ZAR 9.5 billion
Structure
Equity + senior debt
Revenue (Yr1 → Yr7)
ZAR 4.0bn → ZAR 21.2bn
EBITDA (Yr5–Yr7)
ZAR 4.0–5.7 billion
Equity IRR (Base, 7-yr)
30.4%
Money Multiple
4.2× (7-yr hold)
Forecast Horizon
Years 1–7
Sector
Contract Mining & Mining Services
The Opportunity

Africa holds world-class mineral endowments — including a large share of global platinum supply, roughly 250 million tonnes of coal annually and top-tier manganese, chromium and gold output — while mining houses are irreversibly outsourcing fixed-capital-intensive mining services to specialist contractors. Ferrovanta captures this with one of the largest integrated mining fleets in Sub-Saharan Africa, delivering load-and-haul, drill-and-blast and full mine operations under long-duration contracts — a ZAR 9.5-billion raise scaling revenue from ZAR 4.0 billion to ZAR 21.2 billion and EBITDA to ZAR 4.0–5.7 billion by Year 5–7, delivering a base-case 30.4% equity IRR and a 4.2× money multiple over a seven-year hold.

Plan Contents

This investor-grade business plan is organised into the sections below. Each section is a dedicated page — select any to explore the full detail.

Important Notice & Disclaimer

This document (the “Business Plan”) has been prepared by Ferrovanta
Mining Services (Pty) Ltd (the “Company” or “Ferrovanta”) and is being
furnished on a confidential basis solely for the purpose of allowing
potential investors, lenders, development finance institutions, and
other qualified parties to evaluate a possible investment in or
financing of the Company.

By accepting this Business Plan, the recipient acknowledges and
agrees that all of the information contained herein is of a confidential
nature, that the recipient will treat it in a confidential manner, and
that the recipient will not, directly or indirectly, disclose or permit
its affiliates, advisors, or representatives to disclose any of such
information without the prior written consent of the Company.

This Business Plan contains forward-looking statements that reflect
the Company’s current views with respect to future events and financial
performance. These forward-looking statements are subject to certain
risks, uncertainties, and assumptions, many of which are beyond the
Company’s control. Actual results may differ materially from those
expressed or implied. Important factors that could cause actual results
to differ materially include, but are not limited to: commodity price
volatility; foreign exchange movements; operational and execution risk;
regulatory developments; counterparty performance; access to debt and
equity capital markets; and the general macroeconomic environment in
South Africa and the broader Southern African Development Community.

Neither the Company nor any of its directors, officers, employees,
agents, or advisors makes any representation or warranty, express or
implied, as to the accuracy or completeness of the information contained
herein. Recipients should not rely on this document as the sole basis
for any investment decision and are urged to seek independent legal,
financial, tax, and technical advice.

This Business Plan does not constitute an offer to sell or the
solicitation of an offer to buy any securities. Any such offering will
be made only by means of formal offering documents prepared in
accordance with applicable securities laws.

All financial information is presented in South African Rand (ZAR)
unless otherwise stated. Forecasts have been prepared based on
assumptions which the Company believes to be reasonable; however, no
assurance can be given that such assumptions will prove correct.

Document version: v1.0 — Investor Edition

Date of issue: Q2 2026

Contact: Corporate Finance Office, Ferrovanta Mining Services
(Pty) Ltd

Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Ferrovanta Mining Services (Pty) Ltd.