About KINETIC DEV Company

Power Development Group Limited (“Power Development” or the “Group”) was incorporated in the Cayman Islands in July 2010. Listed on the main board of the Hong Kong Stock Exchange in March 2012, the stock code is 1277. The Group is a comprehensive coal enterprise, and its business covers the entire coal production, washing, loading, transportation and coal trading industry chain. The Group's vision is to become a leading private integrated coal supplier in China. Power Development currently mainly operates the Daianpu Coal Mine. The coal mine is an underground coal mine. The coal type is thermal coal, with an approved annual production capacity of 6.5 million tons. It is located in Huaigeerqi, Ordos City, Inner Mongolia, China. The mining area is about 9.6 square kilometers. As of December 31, 2024, the Daianpu coal mine has about 359.79 million metric tons of coal resources and about 159.12 million metric tons of coal reserves. The Daianpu Coal Mine is also equipped with the construction of a coal washing plant with an annual processing capacity of 6.5 million metric tons or more. In June 2022, Power Development became the sole operator of Ningxia Yong'an and Weiyi coal mines by acquiring 100% of Ningxia Sunshine Mining Co., Ltd. Both Yong'an and Weiyi coal mines are underground coal mines. The coal types are coking coal, 1/3 coking coal, and fertilizer coal. They are located in Wuzhong City, Ningxia, China. The mining area is about 21.7 square kilometers and 26.7 square kilometers, respectively. As of December 31, 2024, Yong'an Coal Mine has about 224.22 million metric tons of coal resources; coal reserves are about 33.2 million metric tons. The Weiyi coal mine has about 118.61 million metric tons of coal resources; the coal reserves are about 15.02 million metric tons. The Yongan Coal Mine entered the joint trial operation stage on November 8, 2024. It is planned to reach full production in 2026. The mine is designed to have an annual production capacity of 1.2 million tons. The Weiyi Coal Mine, also located in Ningxia, is still under construction. It is scheduled to be put into operation in the second half of 2025 and reach full production in 2027. The mine is designed to have an annual production capacity of 0.9 million tons. The Yongan Coal Mine is equipped with a large-scale coking coal processing plant with an annual processing capacity of 2.4 million tons to cooperate with the production and operation of the Yong'an and Weiyi coal mines in Ningxia. In 2024, Power Development announced that it would subscribe for 51% of McMiningLimited's shares through capital increases and stock expansion. After the subscription is completed, Power Development will develop and operate four coal mine projects in South Africa. The coal types include thermal coal and coking coal. The total amount of resources can be harvested is 1.96 billion tons, and high-quality resource endowments are expected to become one of the main driving forces for the Group's future performance growth.