Exercise of options Jubilee Metals Group Plc Registration number (4459850) Altx share code: JBL AIM share code: JLP ISIN: GB0031852162 ("Jubilee" or the "Company” or the “Group”) 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. Exercise of Options Jubilee announces that it has received notification from a director, Dr NM Phosa, to exercise 1 500 000 options in the Company (the “Director Shares) at an average price of 4.5 pence (ZAR 87.8 cents) per Director Share amounting to a cash value of £ 67,500 (ZAR 1.3 million). The Company will issue 1 500 000 Director Shares at an average issue price of 4.5 pence per share to Dr Phosa. Dr Phosa’s interest in the Company after the exercise is 4 227 384 ordinary shares representing approximately 0.16% of the enlarged issued capital of the Company. Jubilee further announces that it has received notification from employees to exercise 13 500 000 options in the Company (the “Option Shares"). The Option Shares have been exercised at an average price of 5 pence (ZAR 97.6 cents) per Option Share amounting to a cash value of £ 665,000 (ZAR 13 million). The Director Shares and Option Shares are issued as fully paid and rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued. Admission and Total Voting Rights The Director Shares and the Option Shares are expected to be admitted to trading on AIM and listed on the Altx of the JSE Limited on 6 June 2022 (“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 Director Shares and the Option Shares, will be 2 657 051 370 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. For further information visit www.jubileemetalsgroup.com or contact: Jubilee Metals Group PLC Leon Coetzer Tel: +27 (0) 11 465 1913 Nominated Adviser – SPARK Advisory Partners Limited Andrew Emmott/ James Keeshan Tel: +44 (0) 20 3368 3555 Broker – Shard Capital Partners LLP Damon Heath/ Erik Woolgar Tel +44 (0) 20 7186 9900 Joint Broker - Berenberg Matthew Armitt/ Jennifer Lee/ Detlir Elezi Tel +44 (0) 20 3207 7800 Joint Broker – WHIreland Harry Ansell/ Katy Mitchell Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618 PR & IR Adviser – Tavistock Jos Simson/ Gareth Tredway/ Charles Vivian Tel: +44 (0) 207 920 3150 United Kingdom 30 May 2022 JSE Sponsor to Jubilee Questco Corporate Advisory Proprietary Limited Sharon Owens Date: 30-05-2022 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.