DRA Global Limited (JSE:DRA) News - Final Arbitration Award

DRA Global Limited
(Incorporated in Australia under the Corporations Act 2001 (Cth))
ACN 622 581 935
ASX / JSE Share Code: DRA
ISIN: AU0000155814
("DRA" or "the Company")
JSE Sponsor: Pallidus Capital Proprietary Limited

                                               ASX / JSE ANNOUNCEMENT
                                                                                                          18 March 2022




FINAL ARBITRATION AWARD

DRA Africa Holdings (Pty) Ltd (DRAH) –– Liqhobong Mining Development Company (Pty) Ltd (LMDC)

The Board of DRA Global Limited (ASX / JSE: DRA) (‘DRA’ or ‘the Company’) provides an update in respect
of the proceedings brought by DRAH against LMDC, and the counterclaims by LMDC against DRAH, before
Advocate M Kuper SC, who handed down the final award on 17 March 2022.

Financial results

DRAH originally filed three claims for approximately R68m ($6.2M) and LMDC filed six counterclaims for
approximately R289m ($26.3M). The award was mixed, with two of the claims and 3 of the counterclaims
dismissed with costs. The aggregate award in respect of the remaining claim and counterclaims is as follows.

• DRAH is awarded R1,761,013.72 ($160,405) plus interest and costs.

• LMDC is awarded R31,290,403.78 ($2,850,150) plus interest and costs.

• Expert fees are also awarded.

The final award sets out separate cost orders, in terms of which, costs, including expert fees, follow the result
of the relevant claim. DRA will review the award in detail to determine whether a proportion of the award to
LMDC is capable of recovery from DRA’s insurers or insurance broker.

DRA has not previously made provision for an award in favour of LMDC. The net amount payable by DRA to
LMDC, following final determination of costs and interest, will be included in profit and loss for the current
financial year.

Further background about the claims

DRAH entered into an engineering, procurement and construction management contract for the Liqhobong
mine expansion project in June 2014. DRAH commenced arbitration proceedings against Liqhobong Mining
Development Company (Pty) Ltd (LMDC) for unpaid invoices and incentive scheme payments. LMDC
counterclaimed on the basis of gross negligence. The final award found that DRAH was not grossly negligent.

- ENDS -

This announcement was approved for release by the Board of Directors of DRA Global Limited.


For further information, please contact:

Investor queries:                                               Media queries:
Haydn von Maltitz                                               Paul Ryan
EGM of Corporate Affairs – DRA Global                           Citadel-MAGNUS
Ph: +61 8 6163 5939                                             M: +61 409 286 511
shareholders@draglobal.com                                      pryan@citadelmagnus.com

Physical Level 8, 256 Adelaide Terrace / Perth WA 6000 / Australia // Postal PO Box 3130 / East Perth WA 6892 / Australia
Telephone +61 (0)8 6163 5900 // info@draglobal.com // ACN 622 581 935 // ASX: DRA / JSE:DRA

draglobal.com                                                                                                               

About DRA Global Limited

DRA Global Limited (ASX: DRA | JSE: DRA) (DRA or the Company) is a multi-disciplinary consulting, engineering, project delivery and
operations management group predominantly focused on the mining and minerals resources sector. DRA has an extensive global track
record, spanning more than three decades and more than 7,500 studies and projects as well as operations, maintenance and optimisation
solutions across a wide range of commodities.

DRA has expertise in mining, minerals and metals processing and related non-process infrastructure including sustainability, water and
energy solutions for the mining industry. DRA delivers advisory, engineering and project delivery services throughout the capital project
lifecycle from concept through to operational readiness and commissioning as well as ongoing operations, maintenance and shutdown
services.

DRA, headquartered in Perth, Australia, services its global customer base through 19 offices across Asia-Pacific, North and South
America, Europe, Middle East and Africa.


Date: 18-03-2022 07:05:00
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