EX-99.1

Exhibit 99.1

MONTAUK RENEWABLES, INC.

Incorporated in the United States of America

Company number: 85-3189583

NASDAQ share code: MNTK

JSE share code: MKR

ISIN: US61218C1036

(“Company”)

UNAUDITED CONSOLIDATED RESULTS FOR THE SIX MONTHS ENDED 30 June 2023

Dollar amounts presented herein are in United States Dollars


				Six Months ended 30 June			Six Months ended 30 June		Percentage
SALIENT FEATURES				2023			2022		Change
Revenue	($	’000	)		72 409			100 055		(28	%)
EBITDA	($	’000	)		9 921			32 933		(70	%)
Headline (loss)/earnings	($	’000	)		(2 056	)		17 643		(112	%)
Basic (loss)/earnings per share		($	)		(0.02	)		0.13		(115	%)
Headline (loss)/earnings per common share		($	)		(0.01	)		0.13		(111	%)
Net asset value per common share		($	)		1.61			1.45		11	%

DECLARATION OF CASH DIVIDEND

The directors have resolved not to declare an interim dividend and to rather focus financial resources on the continued development of the Company’s operations portfolio.

USE OF NON-GAAP MEASURES

This report was prepared for the purpose of complying with the reporting requirements of the Johannesburg Stock Exchange and includes certain non-GAAP measures, such as headline earnings and headline earnings per common share, and related reconciliations.

Reconciliation of headline earnings/(loss)


	2023					2022
	Gross $’000		Net $’000			Gross $’000			Net $’000
Net (loss)/income attributable to common shareholders				(2 785	)					18 037
Adjustments
Loss on disposal of plant and equipment		37		35			17			14
Impairment of plant and equipment		726		694			92			75
Impairment of intangible assets		—		—			28			23
Proceeds on insurance claims		—		—			(313	)		(254	)
Gain on disposal of intangible assets		—		—			(310	)		(251	)
Headline (loss)/earnings				(2 056	)					17 644
Basic and headline (loss)/earnings per common share (US Dollars)
(Loss)/earnings				(0.02	)					0.13
Headline (loss)/earnings				(0.01	)					0.13
Weighted-average common shares outstanding (‘000)(1)				141 633						141 088
Diluted (loss)/earnings per common share (US Dollars)
(Loss)/earnings				(0.02	)					0.13
Headline (loss)/earnings				(0.01	)					0.13
Weighted-average common shares outstanding for diluted earnings (‘000)(1)
				141 633						142 220

(1)	The common shares outstanding as of June 30, 2023 is as reported in the quarterly report on Form 10-Q for the fiscal second quarter 2023, filed with the Securities and Exchange Commission on August 9, 2023.