Jubilee Metals Group PLC

Registration number (4459850)

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

("Jubilee" or "the Company" or "the Group")

Management changes

Jubilee is pleased to announce that Dr Reuel Khoza has agreed to join the Jubilee Board. Dr Khoza is an eminent business leader having held the position as chairman of several blue-chip firms including Nedbank Group Ltd, one of Africa's largest banking corporations, Public Investment Corporation Ltd, the largest asset management firm in Africa, Eskom Holdings Ltd, the largest power generator in South Africa, and is also a director of the Johannesburg Stock Exchange. Dr Khoza's current positions include President of the Institute of Directors Southern Africa and Chairman of Discovery Bank. He is also a visiting professor at several South African universities, lecturing in Corporate Governance, Business Leadership, Business Strategy and Marketing Communications. Dr Khoza's appointment to the Jubilee Board is subject to regulatory approval and he is expected to join the board during October 2024.

The Company also wishes to announce that Neal Reynolds has informed the Board of his resignation as Chief Financial Officer (CFO) to pursue a new opportunity. Neal will leave Jubilee after publication of the Company's Annual Results, which are targeted for release during the week of the 30 September 2024.

Neal formed part of the leadership team tasked with the successful implementation of a decentralised executive management structure, to ensure dedicated focused leadership by the South African and Zambian appointed executive team. The decentralised executive teams are now each led by a dedicated Managing Director and CFO per country and commodity area. The implemented executive structure ensures clear accountability and leadership across each of the Company's operations, namely copper and chrome & PGM. This new decentralised structure has put in place significant finance capabilities across the Group. Riaan Smit, currently Chief Financial Officer of the chrome & PGM division in South Africa, has been appointed interim Group CFO while a replacement is found.

Leon Coetzer says: "It is a great honour to have such an esteemed business leader in Dr Reuel Khoza to accept the invitation to join the Jubilee Board. Dr Khoza brings a wealth of experience and knowledge that will strongly compliment the Jubilee Board, especially at a time when we look to expand our operating footprint in Africa.

I would also like to extend my gratitude to Neal and thank him for his contribution during Jubilee's restructuring into a decentralised leadership model and wish him every success with his new venture."

*ENDS*

19 September 2024

For further information visit www.jubileemetalsgroup.com, follow Jubilee on Twitter (@Jubilee_Metals) or contact below:

Jubilee Metals Group PLC 

Leon Coetzer (CEO)

Tel: +27 (0) 11 465 1913 

Nominated Adviser - SPARK Advisory Partners Limited 

Andrew Emmott/James Keeshan 

Tel: +44 (0) 20 3368 3555 

PR & IR Adviser - Tavistock 

Jos Simson/ Gareth Tredway

Tel: +44 (0) 207 920 3150 

Joint Broker - RBC Capital Markets

Farid Dadashev/Jamil Miah

Tel +44 (0) 20 7653 4000

Joint Broker - Zeus Capital

Harry Ansell/Katy Mitchell  

Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited 

Alison McLaren

Tel: +27 (0)11 011 9207

About Jubilee

Jubilee is a low-cost, diversified producer, specialising in the recovery and processing of metals from previously overlooked resources, such as unprocessed historical waste rock, run-of-mine materials and tailings in Zambia and South Africa. The Company's low-capex, modular processing facilities are deployed close to these various types of material, producing high-grade concentrates for sale or further refining to finished metal at the Company's downstream facilities. Production currently consists of copper, chrome, and platinum group metals (PGMs). The modular processing facilities offer a platform for growth and the rapid expansion of Jubilee's operational footprint in Zambia and South Africa. Jubilee's success is derived from operational and technical excellence, an experienced management team and a pioneering Technical Development Centre.