Capital Limited

("Capital", the "Group" or the "Company")

Results of Annual General Meeting

The Board of Directors of Capital Limited announces that all resolutions put to shareholders at today's Annual General Meeting ("AGM") were duly passed by the requisite majorities on a poll.

The Company's issued share capital eligible to be voted at the AGM was 193,696,920 shares and 78.9% of the Company's issued share capital was voted at the AGM.

During today's AGM, Executive Chairman Jamie Boyton gave a presentation followed by a Q&A session with CEO Peter Stokes, for shareholders. The presentation can be found here (https://www.capdrill.com/investors/announcements).

The full text of each resolution is contained in the Notice of AGM, (also available on the Company's website at https://www.capdrill.com/investors/announcements). The total number of votes cast for each resolution is set out below:

*The Board notes that for resolution 3, the re-election of Alexander Davidson, 28.97% votes were recorded against his reappointment. The Board notes that Mr Davidson is no longer considered independent in terms of provision 10 of the 2018 UK Corporate Governance Code ("the Code") due to the time he has served on the Capital board.

The Board is cognisant of the requirements of the Code and wishes to comply with it as far as is practicable.

With immediate effect Mr Davidson will step down from the Audit, Remuneration and Nomination Committees and Cassie Boggs will be appointed to the Audit Committee. Following this, each one of the three governance committees will be comprised solely of independent non-executive directors.

At the same time, it is important to note that the new Listing Rule on diversity & inclusion came into effect for financial periods commencing on or after 1 April 2022 and, as stated in the Company's 2022 Annual Report, a search is underway for an additional female independent director to join the Capital Board.

When this search is completed and the new director is appointed, the complement of the governance committees may be changed, but they will still be comprised solely of independent non-executive directors.

It is intended that, due to his skills and experience which are of significant and unique value to the Company, Mr Davidson will remain on the Board as a non-executive director, but as he is not considered independent, he will as above not serve on any of the governance committees.

The Company will consult with shareholders shortly with regards to the above plans, and take any comments raised into account as these plans are actioned. In accordance with provision 4 of the Code, the Board will provide an update on these shareholder engagements within six months of the AGM.

A copy of the results of the AGM, along with a copy of resolutions passed other than those concerning ordinary business at the AGM, have been submitted to the Financial Services Authority's National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

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For further information, please visit Capital's website www.capdrill.com or contact

Capital Limited                                                                     [email protected]

Jamie Boyton, Executive Chairman                                  

Peter Stokes, Chief Executive Officer                             

Rick Robson, Chief Financial Officer

Conor Rowley, Investor Relations & Corporate Development Manager

Tamesis Partners LLP                                                          +44 20 3882 2868

Charlie Bendon

Richard Greenfield

Stifel Nicolaus Europe Limited                                          +44 20 7710 7600

Ashton Clanfield

Callum Stewart

Rory Blundell

Buchanan                                                                               +44 20 7466 5000

Bobby Morse                                                                        [email protected]

George Pope

About Capital Limited

Capital Limited is a leading mining services company providing a complete range of drilling, mining, maintenance and geochemical laboratory solutions to customers within the global minerals industry, focusing on the African markets. The Company's services include: exploration, delineation and production drilling; load and haul services; maintenance; and geochemical analysis. The Group's corporate headquarters are in London and it has established operations in Canada, Côte d'Ivoire, Egypt, Guinea, Kenya, Mali, Mauritania, Nigeria, Saudi Arabia, Sudan and Tanzania.