MEMORANDUM OF AGREEMENT OF LEASE

This Agreement was entered into on this 3rd day of January 2022 between:

1. Parties
Mr. Alexander Mathe
Of House No 3983 (Dynamic Stands), Empumalanga, Hwange, (referred to hereinafter
as the lessor) of one part and

Zimbabwe Power Company (Pvt) Ltd,

of Old Victoria Falls Road, PO Box 257, Hwange a company duly registered in terms of
the laws of Zimbabwe represented herein by F. CHANAKIRA (who is duly authorized to
act for and on behalf of the company) (Referred to hereinafter as “the Lessee”) of the one
part;

2. Recitals

Whereas:

2.1. The Lessor is the registered owner of certain residential property known as
House No 3983, Dynamic Stands, Empumalanga, Hwange (referred to herein
after as “the premises” or “the leased premises”, which words shall be used
interchangeably).

2.2. The Lessor has agreed to lease the premises to the Lessee upon the following
terms and conditions.

NOW THEREFORE THESE PRESENTS WITNESSETH:

1. Lease

The Lessor hereby lets and the Lessee hereby leases the premises.

2. Use

The premises shall be used as a private residence for the Lessee and his/her family only.

3. Period

3.1. The lease shall commence on 01 January 2022 and shall endure for a period of
four (4) months, terminating on 30 April 2022 subject to any renewals on the
same terms and conditions contained herein.

3.2. The Lessee may, at his/her option renew the lease for a further period of four (4)
months on the same terms and conditions subject to mutual agreement between
the parties.

3.3. Either party may terminate this lease agreement by giving the other party one
months’ notice.

4. Rent

4.1. The Lessee shall pay rent to the Lessor of $25 545.60 (rtgs) per month. Rentals
shall be payable tri- annually [four (4) months in advance] at $102 182.40 (rtgs)
without any deduction save only for any mandatory statutory deductions.