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

(“Montauk Renewables” or the “Company”)

AUDITED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 December 2023

Dollar amounts presented herein are in United States Dollars


SALIENT FEATURES			2023		2022		Percentage Change
Revenue	($	’000)		174 904		205 559		(15	%)
EBITDA	($	’000)		45 277		65 734		(31	%)
Headline earnings	($	’000)		15 760		38 698		(59	%)
Earnings per share		($)		0.11		0.25		(56	%)
Headline earnings/per common share		($)		0.11		0.27		(59	%)
Net asset value per common share		($)		1.74		1.58		10	%

DECLARATION OF CASH DIVIDEND

The directors have resolved not to declare a final dividend to 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


	2023				2022
	Gross $’000		Net $’000		Gross $’000			Net $’000
Net income attributable to common shareholders				14 948					35 194
Adjustments
Loss on disposal of plant and equipment		94		78		78			63
Impairment of plant and equipment		902		734		4 781			3 891
Gain on disposal of intangible assets						(311	)		(253	)
Proceeds on insurance claims						(313	)		(255	)
Impairment of intangible assets						71			58
Headline earnings				15 760					38 698
Basic and headline earnings per common share (US Dollars)
Earnings				0.11					0.25
Headline earnings (2)				0.11					0.27
Weighted-average common shares outstanding (‘000)(1)				141 728					141 239
Diluted earnings per common share (US Dollars)
Earnings (2)				0.11					0.25
Headline earnings (2)				0.11					0.27
Weighted-average common shares outstanding for diluted earnings (‘000)(1)				142 152					142 579

(1)	The common share outstanding as of December 31, 2023 is as reported in the annual report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission on March 14, 2024.

(2)	The December 31, 2023 and 2022 per share indicators were determined by applying International Financial Reporting Standards.