SENIOR MANAGEMENT

Hanno Pengilly

Chief Executive Officer

Hanno has considerable knowledge in the power and mine sectors on the back of his experience in the business over the last 10 years. Hanno joined the Company in 2010 and has been the Company’s Chief Development Officer since May 2012. Hanno has been responsible for managing key project milestones including the delivery of the power plant and mine feasibility studies in 2013 and 2014. Since May 2017, Hanno has led the Company’s strategic partner process, which successfully resulted in the signing of a binding Joint Development Agreement (“JDA”) in July 2019, and led the Company in key negotiations with the Mozambique government and state power utility Electricidade de Moçambique (“EDM”)

Prior to joining the Company, he was an investment banker at JP Morgan, based in the United Kingdom and South Africa, and predominantly focused on natural resources. He holds a BSc in Economics.

Chris Schutte

Chief Operating Officer

Chris' main responsibility is to lead the technical process on the integrated Ncondezi 300MW coal fired power project and coal mine. This includes management of the Engineering Procurement and Construction (“EPC”) and Operations and Management (“O&M”) processes with the Company’s strategic partners. Chris has considerable knowledge of the business having been a Non-Executive Director of Ncondezi from February 2013 until September 2018. During 2013 and 2014, Chris led the Company’s power plant EPC and O&M processes. He was appointed COO of Ncondezi in March 2015 and took over the day to day project development in May 2015. Mr Schutte resigned as COO and from the Board in September 2018 when he was invited by Eskom Holdings SOC Ltd (“Eskom”), the largest power generator in Sub Saharan Africa, to join the Generation Group. He left Eskom to pursue private consulting opportunities at the end of May 2019 and rejoined Ncondezi in October 2019.

Prior to joining Ncondezi in 2013, Mr Schutte was a Senior General Manager in the Technology Group, responsible for all engineering functions at Eskom, including design accountability for new power stations, transmission lines and distribution development. Prior to this he was Senior General Manager of Eskom’s Generation Division, managing five coal fired power stations with over 18,000 MW total installed capacity (60 times the size of the Ncondezi Project). He holds a degree in mechanical engineering and a Master’s degree in business leadership.