Primorus Investments plc

("Primorus" or the "Company")

Update on Alteration Earth PLC Investment

Further to the RNS announcement dated 21 October 2021, in relation to the Company's investment in Alteration Earth PLC ("ALTE"), Primorus provides a brief update as set out below.

Primorus has signed a deed of amendment which extends the time period for ALTE to complete its prospectus and obtain its listing on the Standard Segment of the Main Market of the London Stock Exchange.

The date has been extended from 31 December 2021 to 4 February 2022.  The extension has mainly been due to the rule changes and the Christmas operating hours of the Financial Conduct Authority ("FCA") - details of both can be found here:

https://www.fca.org.uk/publication/policy/ps21-22.pdf

https://www.fca.org.uk/markets/listing-transactions-over-christmas-and-new-year

The Prospectus has been submitted for its second reading and ALTE expects to receive the FCA comments early in January.  Following this, and assuming no material issues are raised, ALTE is expecting to obtain its listing without any further amendments to the timeframe.

For further information please contact: