Ferrovanta Mining Services Business Plan › Section 2 › Company Overview

2.1 Corporate Identity and Legal Structure

Ferrovanta Mining Services (Pty) Ltd is a private company
incorporated in the Republic of South Africa under the Companies Act, 71
of 2008. The Company is structured as a holding entity with operational
subsidiaries to be progressively incorporated in each jurisdiction of
operation. This structure delivers operational ringfencing, tax
efficiency, jurisdictional flexibility for future cross-border
contracting, and clean exit optionality for investors.

2.2 Vision, Mission and Values

Vision

To become Africa’s most respected and reliable contract mining
partner — the partner of choice for mining houses seeking world-class
operational delivery, uncompromising safety performance, and
demonstrable ESG leadership across the continent.

Mission

Ferrovanta delivers safe, efficient, and technology-enabled contract
mining services to leading mining houses across Africa. We convert our
clients’ geological assets into produced tonnes through disciplined
execution, scaled fleet capacity, and an unwavering commitment to
people, communities, and the environment in which we operate.

Core Values

• Safety First, Always. Zero harm is the only
  acceptable outcome. Every employee has the right and the obligation to
  stop unsafe work.
• Operational Excellence. We measure ourselves
  against the highest international benchmarks for productivity, fleet
  availability, and cost discipline.
• Integrity. We do business transparently,
  ethically, and in full compliance with the laws of every jurisdiction in
  which we operate.
• Partnership. We treat our clients, our
  suppliers, our employees, and our host communities as long-term partners
  — not transactions.
• Innovation. We continuously invest in
  technology, mechanisation, and data analytics to improve productivity
  and reduce environmental impact.

2.3 Strategic Positioning

Ferrovanta occupies a deliberate strategic position within the
African mining services landscape. We are not seeking to compete with
global majors such as Thiess (CIMIC), Macmahon, or Byrnecut on a
worldwide basis; nor are we positioning as a niche, single-commodity
specialist. Rather, Ferrovanta is built as a pan-African,
multi-commodity, mid-to-large project contractor with the operational
scale to win blue-chip multi-year contracts and the agility to
outperform older, more capital-encumbered incumbents on cost-per-tonne
and fleet availability.

This positioning is informed by structural observation of the South
African market, where established incumbents such as Aveng Moolmans,
Concor Mining, and Trollope Mining have achieved scale but increasingly
carry legacy fleet, retained earnings reinvestment constraints, and in
some cases parent-company balance sheet pressure. A clean-balance-sheet,
modern-fleet platform can credibly compete on price, ESG profile, and
operational flexibility.

2.4 Service Portfolio Overview

Ferrovanta will offer a fully integrated suite of mining services
structured around the open-cast mining value chain. The Company’s
service offering is designed to be modular — clients may engage
Ferrovanta for the full mine cycle on an end-to-end basis, or for
individual service lines on a sub-contracted basis where this best fits
the client’s operating model.

2.5 Value Proposition to Clients

Ferrovanta’s value proposition is grounded in four pillars that
directly address the principal pain points reported by South African
mining houses in recent industry surveys and Chamber of Mines
benchmarking reports.

• De-Risked Production: Conversion of variable,
  technically demanding open-cast operations into a contracted,
  performance-guaranteed service with defined unit economics. Clients gain
  certainty of cost-per-tonne and freedom from fleet capital
  exposure.
• Modern, Compliant Fleet: A fleet with a planned
  average age below seven years from commissioning, with Tier 4 or Stage V
  emissions compliance where commodity export markets demand it. This is
  increasingly material to ESG-sensitive end customers and
  lenders.
• Operational Flexibility: Multi-commodity
  capability allows clients to engage a single contractor across coal,
  manganese, chrome, PGMs, copper, lithium, and uranium operations without
  re-tendering for each commodity.
• Pan-African Reach: From Year 3 onward,
  multi-jurisdiction operational capability eliminates the friction of
  cross-border tendering for clients with regional growth
  ambitions.

2.6 Capabilities at Steady State

By Year 5 of operations, Ferrovanta is planned to operate the
following installed capacity:

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.