Master Drilling Group Limited (JSE:MDI) News - Results of the Annual General Meeting of Master Drilling held on Monday, 13 June 2021 Master Drilling Group Limited (Incorporated in the Republic of South Africa) (Registration number 2011/008265/06) JSE share code: MDI ISIN: ZAE000171948 (“Master Drilling” or the “Company” or the “Group”) RESULTS OF THE ANNUAL GENERAL MEETING OF MASTER DRILLING HELD ON MONDAY, 13 JUNE 2021. Master Drilling shareholders are advised that the results of the business conducted at the annual general meeting held on Monday, 13 June 2022 at 09h00 at BDO offices, Wanderers Office Park, 52 Corlett Drive, Illovo, Johannesburg were as follows: 1. Ordinary resolution number 1 – Appointment of BDO South Africa Incorporated as the auditor of the Company BDO was appointed as the independent auditor of the Company until the conclusion of the next annual general meeting. Appointment For % Against % Abstain % Shares Voted % of BDO South Africa 125,326,164 96.43% 4,639,849 3,57% 61,985 0.04% 129,966,013 85,92% Incorporated as auditor of the Company 2. Ordinary resolution number 2: Re-election of Non-Executive Director Shane Trevor Ferguson was re-elected by separate resolution as a Non-Executive Director. Re-election For % Against % Abstain % Shares Voted % of Non- Executive Director Shane Trevor 108,489,754 83,48% 21,476,259 16.52% 61,985 0.04% 129,966,013 85.92% Ferguson 3. Ordinary resolution number 3: Election of Non-Executive Director Mamokete Emily Ramathe was elected by separate resolution as a Non-Executive Director. Election of For % Against % Abstain % Shares Voted % Non- Executive Director Mamokete 129,966,013 100.00% 0 0.00% 61,985 0.04% 129,966,013 85.92% Emily Ramathe 4. Ordinary resolution number 4: Election/ Re-appointment of members of the Audit Committee Messrs Andries Willem Brink, Akhter Alli Deshmukh, Mamokete Emily Ramathe (all Independent Non-Executive Directors) and Shane Trevor Ferguson (Non-Executive Director) were each elected by way of separate resolution as members of the Master Drilling Audit Committee with effect from the end of the annual general meeting. Election/Re- For % Against % Abstain % Shares Voted % appointment of members of the Audit Committee 4.1 Andries 129,939,682 99.98% 26,331 0.02% 61,985 0.04% 129,966,013 85.92% Willem Brink 4.2 Shane 98,231,728 75.58% 31,734,285 24.42% 61,985 0.04% 129,966,013 85.92% Trevor Ferguson 4.3 Akhter Alli 109,363,037 84.15% 20,599,928 15,85% 65,033 0.04% 129,962,965 85.92% Deshmukh 4.4 Mamokete 129,966,013 100.00% - 0% 61,985 0.04% 129,966,013 85,92% Emily Ramathe 5. Ordinary resolution number 5: General authority to Directors to allot and issue authorised but unissued ordinary shares The general authority was approved for the Directors of Master Drilling to allot and issue ordinary shares. up to a maximum of 5% of the authorised but unissued ordinary shares of the Company, pursuant to the provisions of the Companies Act and the JSE Listings Requirements. General For % Against % Abstain % Shares Voted % authority to Directors to allot and issue authorised but unissued ordinary shares 102,436,826 78,82% 27,527,187 21,18% 63,985 0.04% 129,964,013 85.92% 6. Ordinary resolution number 6: General authority for Directors to issue shares for cash The general authority for Directors to issue shares for cash, limited to a maximum number of 7,563,138 ordinary shares and which authority is only valid until the next annual general meeting, was approved. General For % Against % Abstain % Shares Voted % authority for Directors to issue shares for cash 102,438,826 78.82% 27,527,187 21.18% 61.985 0.04% 129,966,013 85.92% 7. Ordinary resolution number 7: Approval of the Master Drilling remuneration policy The Company’s remuneration policy as contained in the Remuneration report of the Company as set out in the Integrated Annual Report (excluding the remuneration of Directors for their services as Directors and members of the Board or statutory committees) in terms of the King Report on Governance for South Africa 2016 (“King IV”) was endorsed by way of a non-binding advisory vote. Approval of the For % Against % Abstain % Shares Voted % Master Drilling remuneration policy 108,930,773 83.83% 21,010,240 16.17% 86,985 0.06% 129,941,013 85.90% 8. Ordinary resolution number 8: Approval of implementation report of the remuneration policy Implementation of the remuneration policy as contained in the Remuneration report of the Company and as set out in the Integrated Annual Report (excluding the remuneration of Directors for their services as Directors and members of the Board or statutory committees) in terms of King IV was endorsed by way of a non-binding advisory vote. Approval of For % Against % Abstain % Shares Voted % implementation report on the Master Drilling remuneration policy 110,238,756 84.84% 19,702,257 15.16% 86,985 0.06% 129,941,013 85,90% 9. Special resolution number 1: General authority to acquire Master Drilling ordinary shares The general authority for the Company or any one of its subsidiaries to acquire Master Drilling ordinary shares in the share capital of the Company, and subject to the requirements of the Companies Act and the JSE Listings Requirements, was approved. For % Against % Abstain % Shares Voted % General authority to acquire Master Drilling ordinary shares 127,495,657 98.10% 2,468,966 1.90% 63,375 0.04% 129,964,623 85.92% 10. Special resolution number 2: Directors’ fees The remuneration to be paid to Directors for their services as Directors for the year commencing 1 July 2022, as recommended by the Remuneration Committee and the Board to the shareholders at the Annual General Meeting, and as set out in the Notice of Annual General Meeting, as well as payment of such Value-Added Tax as may be attributable to Non-Executive Directors’ fees payable by the Company, was approved. For % Against % Abstain % Shares Voted % Directors’ fees 127,903,078 98.43% 2,038,545 1.57% 86,375 0.06% 129,941,623 85.90% 11. Special resolution number 3: Financial assistance in terms of sections 44 and 45 of the Companies Act The ability for the Company to provide any direct or indirect financial assistance as contemplated in sections 44 and 45 of the Companies Act to any one or more related or inter-related companies or corporations of Master Drilling, from time to time during a period of 2 (two) years, commencing on the date of this special resolution, and subject to the JSE Listings Requirements, was approved. For % Against % Abstain % Shares Voted % Financial assistance in terms of sections 44 and 45 of the Companies Act 129,960,965 100.00% 3,658 0% 63,375 0.04% 129,964,623 85.92% Accordingly, all the resolutions as set out in the Notice of Annual General Meeting were passed with the requisite majority of votes. The special resolutions will, to the extent necessary, be filed and registered with the Companies and Intellectual Property Commission. Fochville 13 June 2022 Sponsor Investec Bank Limited Date: 13-06-2022 01:30:00 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.