JUBILEE METALS GROUP PLC - Operational Update South Africa Q3 FY2025

Operational Update South Africa Q3 FY2025

Jubilee Metals Group Plc
Registration number (4459850)
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
("Jubilee" or "Company" or "Group")


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Operational Update South Africa
Q3 FY2025

Jubilee, a diversified metals producer with operations in South Africa and Zambia, today publishes its
South Africa operational and project update for the third quarter ended 31 March 2025 (Q3 FY2025),
reflecting a strong nine months to 31 March 2025, putting the division on track to exceed performance
targets for the financial year to 30 June 2025.

Highlights

-   South Africa reported Lost Time Frequency Injury Rate of 1.40 (Q3 FY2024: 1.45) with no classified
    injuries reported.
-   Chrome concentrate production for Q3 FY2025 up 10.7% to 452 561t (Q3 FY2024: 408 710t).
-   Year to date production for the nine months to 31 March 2025 reached 1 427 220t, up 26.7% from
    1 126 506t for the comparative nine months ended 31 March 2024, with revised guidance
    increased to 1 850 000t of chrome concentrate for the financial year ending 30 June 2025.
-   The new chrome processing modules built at Thutse are expected to contribute significantly to
    the production performance of chrome during the remainder of H2 FY2025.
-   6E Platinum Group Metals* (PGM) production reached 11 171 oz for Q3 FY2025 up 34.0% from
    the previous quarter (Q3 FY2024: 8 339 oz).
-   Year to date PGM production reached 29 606 oz, up 3.6% from 28 583 oz for the comparative nine
    months ended 31 March 2024, with revised guidance increased to 38 000 oz of PGM production
    for the financial year ending 30 June 2025.
-   Post period end, as announced on 9 April 2025, the Company entered into a joint partnership
    agreement to commence processing of surplus PGM feed stock.

* 6E PGM - Platinum, palladium, rhodium, ruthenium, iridium and gold

South Africa production guidance for FY2025

-   Chrome concentrate Revised production guidance of 1.85Mt (previously 1.65Mt).
-   PGM Revised production guidance of 38 000 oz (previously 36 000 oz).

Statement from Leon Coetzer, Jubilee CEO:

"I am pleased with the solid set of production numbers that our well embedded South African
operations have produced for both the March 2025 quarter and also the first nine months of the
financial year to 30 June 2025.
The successful implementation of the Thutse project in partnership with the resource owner has
increased the original chrome concentrate guidance by 12% to 1.85 million tonnes for the FY2025
period. Our Inyoni PGM plant continues to operate at full capacity and improved input PGM grades
together with the recently announced joint partnership agreement to process excess PGM feed stock,
have increased the original guidance by just under 6% to 38 000 PGM oz.

The PGM joint partnership agreement, which targets the processing of the increasing PGM feed stocks
due to our expanding chrome operations, affords us the opportunity to expand our PGM production
capacity by an approximate 30% without the need of spending any capital."

Production performance Q3 FY2025

The table below presents the unaudited operational production performance of South Africa for Q3
FY2025:

                                                                 
 OPERATIONAL                                Q3        Q3        %   9m to 31   9m to 31       %                                                                    
 PERFORMANCE                            FY2025    FY2024    change     March      March  change
                                                                        2025       2024
 SOUTH AFRICA
 Production
 Chrome                       tonnes   452 561   408 710     10.7% 1 427 220 1 126 506   26.7%
 PGM                            Oz      11 171     8 339     34.0%    29 606    28 583    3.6%


16 April 2025



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 – 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 63 482 3802

Date: 16-04-2025 08:00:00
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