Summary

Ntaka Hill Holdings Limited (United Kingdom) has appointed a specialist investment arbitration law firm to represent it in potential arbitration proceedings and will consider any other actions necessary to ensure its rights are protected

Engagement with litigation funders has commenced -strong interest received from recognised industry participants

Six�]month period has now commenced where the parties can negotiate a mutually acceptable outcome

If agreement cannot be reached in 6 months a Claim can be referred to the International Centre for the Settlement of Investment Disputes (ICSID), part of the World Bank

The quantum of the any Claim submitted to ICSID for compensation may include, but will not be limited to: - the value of historic investment in Tanzania,
- the value of the project at the Ɵme tenure was expropriated,
- damages the Company has suffered as a result of Tanzania's acts and omissions.

All feasible legal avenues will be pursued to protect the rights of shareholders

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Nachingwea U.K. Limited (UK), Ntaka Nickel Holdings Limited (UK) and Nachingwea Nickel Limited (Tanzania) v. United Republic of Tanzania (ICSID Case No. ARB/20/38)