Joint Funding Advances Gas Field Acceleration

Initial Funding Received: FFS Refiners (Pty) Ltd has advanced R6.2 million (AUD $546,040) to Kinetiko’s subsidiary, Afro Energy (Pty) Ltd. This is the first tranche of the joint commitment.
Project Goal: The funding is committed under the Joint Development Agreement (as announced on October 13, 2025) to accelerate Phase 1a of Project Alpha, specifically the pilot gas plant for LNG production at Brakfontein.
Funded Activities: This capital will specifically support:

- - Drilling of new production wells and developing completion strategies for existing wells at Brakfontein.
  - Gas testing and securing a competent person for gas reserves certification.
  - Compiling an LNG business case proposal for broader gas field development.
  - The application for a production right.

Total Commitment: This advance is the first part of FFS’s total joint funding commitment of R28.66 million (AUD $2.53 million) for Phase 1a Project Alpha.