Jupiter welcomes Exxaro as prospective partner & shareholder

• Exxaro to acquire 50.1% stake in Tshipi Manganese Mine and 19.99% stake in Jupiter Mines
• Exxaro's investment strengthens Jupiter's platform for growth and supports its strategy to consolidate and create value across the Kalahari Manganese Field
• Jupiter to continue holding the remaining 49.9% of Tshipi and exercise joint control over its operations

Jupiter Mines Limited (ASX:JMS) has announced that Exxaro Resources Limited (JSE:EXX), a diversified mining company listed on the Johannesburg Stock Exchange, has entered into a binding agreement to acquire various manganese mining investments in South Africa, including a 50.1% ownership interest in the Tshipi Manganese Mine and a 19.99% shareholding in Jupiter Mines. Under the transaction, Exxaro will acquire Ntsimbintle Holdings (Pty) Ltd's 37.1% interest in Tshipi, OM Holdings Limited's 13.0% interest in Tshipi, and their Tshipi marketing rights. Following the transaction, Exxaro is expected to become Jupiter's largest shareholder, replacing Ntsimbintle Holdings. Jupiter will continue to hold the remaining 49.9% of Tshipi and exercise joint control over its operations, consistent with current arrangements. Jupiter Mines Chair Ian Murray expressed delight in welcoming Exxaro as a prospective partner and major shareholder, stating that Exxaro's investment strengthens Jupiter's platform for growth and supports its strategy to consolidate and create value across the Kalahari Manganese Field.