Audited Consolidated Results for the year ended 31 December 2023 MONTAUK RENEWABLES, INC. Incorporated in the United States of America Company number: 85-3189583 NASDAQ share code: MNTK JSE share code: MKR ISIN: US61218C1036 ("Montauk Renewables" or the "Company") AUDITED CONSOLIDATED RESULTS For the year ended 31 December 2023 Dollar amounts presented herein are in United States Dollars SALIENT FEATURES Percentage 2023 2022 change Revenue ($'000) 174 904 205 559 (15%) EBITDA ($'000) 45 277 65 734 (31%) Headline earnings ($'000) 15 760 38 698 (59%) Earnings per share ($) 0.11 0.25 (56%) Headline earnings per common share ($) 0.11 0.27 (59%) Net asset value per common share ($) 1.74 1.58 10% DECLARATION OF CASH DIVIDEND The directors have resolved not to declare a final dividend to focus financial resources on the continued development of the Company's operations portfolio. USE OF NON-GAAP MEASURES This report was prepared for the purpose of complying with the reporting requirements of the Johannesburg Stock Exchange and includes certain non-GAAP measures, such as headline earnings and headline earnings per common share, and related reconciliations. Reconciliation of headline earnings 2023 2022 Gross Net Gross Net $'000 $'000 $'000 $'000 Net income attributable to common shareholders 14 948 35 194 Adjustments Loss on disposal of plant and equipment 94 78 78 63 Impairment of plant and equipment 902 734 4 781 3 891 Gain on disposal of intangible assets (311) (253) Proceeds on insurance claims (313) (255) Impairment of intangible assets 71 58 Headline earnings 15 760 38 698 Basic and headline earnings per common share (US Dollars) Earnings 0.11 0.25 Headline earnings (2) 0.11 0.27 Weighted-average common shares outstanding ('000)(1) 141 728 141 239 Diluted earnings per common share (US Dollars) Earnings (2) 0.11 0.25 Headline earnings (2) 0.11 0.27 Weighted-average common shares outstanding for diluted ('000) (2) 142 152 142 579 (1) The common share outstanding as of December 31, 2023 is as reported in the annual report of Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission on March 14, 2024. (2) The December 31, 2023 and 2022 per share indicators were determined by applying International Financial Reporting Standards. DIRECTORS' STATEMENT This short-form announcement is the responsibility of the Company's Board of Directors and is a summary of the information in the detailed financial results announcement. The financial information is only a summary and does not contain full details of the financial results. Any investment decisions by investors and/or shareholders should be based on information contained in the full announcement, accessible from 14 March 2024, via the JSE link (https://senspdf.jse.co.za/documents/2024/jse/isse/MKRE/YE23.pdf) or on the SEC's website at https://www.sec.gov/Archives/edgar/data/1826600/000095017024031587/0000950170-24-031587-index.htm The full announcement is also available at the Company's registered office, the offices of the sponsor and may be requested at info@montaukenergy.com free of charge to investors and/or shareholders, during office hours (09:00 - 17:00) from Mondays to Fridays. 15 March 2024 Directors: JA Copelyn (Chairman)*###, SF McClain (Chief Executive Officer)#, MH Ahmed*###, TG Govender*###, J Cunningham*#, Y Shaik* ### *Non-executive; #United States of America; ### Republic of South Africa Company secretary: J Ciroli Registered office: 5313 Campbells Run Road, Suite 200, Pittsburgh, PA 15205 Website: https://ir.montaukrenewables.com/ Sponsor: Investec Bank Limited Date: 15-03-2024 09:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.