Jubilee Metals Group PLC

Registration number: 4459850

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

('Jubilee' or 'the Company')

Dissemination of a Regulatory Announcement that contains inside information according to UK Market Abuse Regulations. Not for release, publication, or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

Shareholder update and

Dealing in securities

Jubilee, the Zambia copper focused producer, provides a shareholder update dealing with its Board composition strategy and a proposed capital reduction.

Board composition strategy

The sale of the chrome and PGM Operations in South Africa has now been completed. The Company now focuses on its operations in Zambia. The Board currently has a majority of South African resident directors as the Company had historically been a South African centric business. Going forward the Board agreed it should migrate towards a Board composition weighted towards Zambia, copper and AIM experienced expertise. This migration will be managed carefully over a period of time.

Proposed capital reduction

The Jubilee Board has tasked the Finance Director to consult with a range of shareholders to ascertain their views on future distributions (dividends, share buybacks, etc). These discussions are well advanced. Such distributions to shareholders, when approved by the Board, need to be paid out of the Company's distributable reserves. At present there are insufficient distributable reserves. There are, however, sufficient share premium reserves which can be converted into distributable reserves. This necessitates a High Court process in the United Kingdom. Discussions are ongoing with legal advisers on the precise process, which will involve a General Meeting of shareholders to approve the capital reduction. This High Court capital reduction process is required to enable the Company to be able to make dividend distributions and share buybacks in the future.

Half Year results

The Company expects to release its interim results for the 6 months ending 31 December 2025 on or about 31 March 2026.

Directors share dealing

The Company issued 2 069 267 Jubilee ordinary shares (Shares) to Leon Coetzer, Chief Executive Officer and 2 184 564 Shares to Jonathan Morley-Kirk, Finance Director (Issuance). The Issuance is for the successful completion of the sale of the South African chrome and PGM operations. Both directors have elected to receive Jubilee Shares instead of a cash payment.

Following the Issuance, Mr Morley-Kirk will hold 3 184 564 Shares, representing approximately 0.10% of the enlarged issued share capital of the Company and Mr Coetzer will hold 3 464 267 Shares representing approximately 0.11% of the enlarged issued share capital of the Company.

Admission and total voting rights

The Shares are expected to be admitted to trading on AIM and listed on the Altx of the JSE Limited on or about 5 March 2026 (Admission) and will rank pari passu with the ordinary shares of the Company in issue.

The Company's total issued capital, after the issue of the Shares, will be 3 150 549 827 ordinary shares. As the Company does not hold any shares in treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.

27 February 2026

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

Jubilee Metals Group PLC 

Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)

Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546

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 - Zeus Capital

Harry Ansell/Katy Mitchell

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

Joint Broker - Shard Capital Partners LLP

Erik Woolgar/Gareth Burchell

Tel +44 (0) 207 1869900 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited 

Alison McLaren

Tel: +27 63 482 3802

The Company provides the following notifications and public disclosures of the share purchases, by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them: 

In compliance with Rules 6.78 of the JSE Listing Requirements, the following information is disclosed: