MINBOS RESOURCES LIMITED — Capital/Financing Update 2022

Jun 29, 2022

30 JULY 2022 ASX Announcement

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TECHNOLOGY PARTNER MOU WITH STAMICARBON - A GLOBAL LEADER IN GREEN AMMONIA

Minbos Resources Limited (ASX:MNB) (Minbos or the Company) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Stamicarbon (a subsidiary of Maire Tecnimont S.p.A.), a Global Leader in Green Ammonia Production.

Highlights

• MOU with Stamicarbon, the Green Ammonia Innovation and License Company, to conduct a 6-month Technical Study for the Capanda Green Ammonia Plant.

• Technical Study to access a mixed production profile of 300kmtpa of Green Ammonium Nitrate Products.

• MOU and Scoping Study represents a natural progression of the working partnership, with Stamicarbon having provided technical input for the Minbos proposal to secure up to 200MW of Green Power.

• Stamicarbon is the innovation and license company of Maire Tecnimont Group and a global market leader in the design and development of Green Ammonia Plants.

• Backed by the Company’s average power price of US 1.1c/kWhr and supported by Stamicarbon, Minbos aims to establish Angola as the global leader in Green Ammonia Production.

• The Company can also confirm, it has now received a draft of the MOU from the Angolan power authority (RNT-EP). Importantly, the draft MOU affirms the 200MW power allocation and concessional pricing of an initial 100MW at US 0.4c/kWhr for 5 years, US 0.8c/kWhr for 20 years and subsequent 100MW at US 1.5c/kWhr for 25 years.

Commenting on the MOU, Minbos CEO Lindsay Reed:

“Having overseen more than 250 fertiliser plants and numerous Green Ammonia initiatives including the world’s first industrial-scale renewable energy Ammonia project located in Kenya, the team at Stamicarbon are eminently qualified to help deliver what will be perhaps the most compelling Green Energy-Powered-Project Globally. The hydro power-to-Ammonia plant will support Angola’s low-carbon and inclusive growth, its agricultural output and its smallholder farmers and communities.”

ASX Code: MNB Office: Unit 5, 254 Rokeby Rd, Subiaco WA 6008 T: +61 8 6219 7171 E: info@minbos.com W: www.minbos.com ABN: 93 141 175 493

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Commenting on the MOU, Stamicarbon Director of Technology Licensing, David Franz:

“Minbos has secured 200MW of very inexpensive green power which sets up the Capanda Green Ammonia Project to be not only one of the best Green Energy-Powered-Projects globally, but potentially the first Green Ammonia project that is truly competitive with traditional fossil-fuel alternatives. Additionally, and importantly, the project brings the possibility to unlock local agricultural potential in central Angola with readily available power and a low to no-carbon profile.”

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This announcement is authorised for release by the Board of Minbos Resources Limited. For further information please contact:

Lindsay Reed Chris Swallow Chief Executive Officer Corporate Development E: l.reed@minbos.com E: c.swallow@minbos.com Ph:+61 412 174 822

Compliance Statement

With reference to previously reported Scoping Study Results, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of Minbos Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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ASX Code: MNB Office: Unit 5, 254 Rokeby Rd, Subiaco WA 6008 T: +61 8 6219 7171 E: info@minbos.com W: www.minbos.com ABN: 93 141 175 493

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ASX Code: MNB Office: Unit 5, 254 Rokeby Rd, Subiaco WA 6008 T: +61 8 6219 7171 E: info@minbos.com W: www.minbos.com ABN: 93 141 175 493