Non-Binding Term Sheet with FFS Refiners to Fast-Track Pilot Gas Output

Key Developments

• KKO and FFS Refiners have signed a non-binding term sheet to jointly develop a pilot liquefied natural gas (LNG) plant.
• This agreement aims to accelerate small-scale gas production from Kinetiko’s Brakfontein wells.
• Key initiatives include:

• • Co-funding for a new production well and upgrades to existing ones.
  • Joint application for a production right.
  • Gas testing and engaging a competent person for gas reserve certification.

• A binding Joint Development Agreement (JDA), outlining funding and production commitments, is expected to be signed within 30 days.
• After the successful completion of this initial phase, the parties will develop a business case for broader LNG production, with future phases planned to incrementally increase gas production and supply.