Ann: Exxaro meets all conditions for acquisition of Mn interests, page-2

I thought this would be price sensitive ann - or was it just expected?

Exxaro satisfies all conditions for acquisition of manganese interests owned by Ntsimbintle Holdings
Jupiter Mines Limited (ASX:JMS) (Jupiter or the Company) notes the announcement by Exxaro Resources Limited
(JSE:EXX) (Exxaro), on the Johannesburg Stock Exchange (JSE), on 29 January 2026 (after ASX market close), that it
has satisfied all conditions for the acquisition of various manganese mining investments in South Africa, including a
50.1% ownership interest in the Tshipi Manganese Mine (Tshipi) and a 19.99% shareholding in Jupiter (Tshipi
Transaction). Formal completion of the Tshipi Transaction is expected to occur on or before 27 February 2026.
Under the Tshipi Transaction, Exxaro will acquire Ntsimbintle Holdings (Pty) Ltd’s (NH) 37.1% interest in Tshipi, OM
Holdings Limited’s (ASX:OMH) (OMH) 13.0% interest in Tshipi and NH and OMH’s Tshipi marketing rights (equating to
the right to market 50.1% of Tshipi’s ore sales). Exxaro will also acquire 392,973,525 fully paid ordinary shares in Jupiter
from NH, at a price of ZAR 3.69 per share (equating to A$0.332 per share at an exchange rate of 11.10 ZAR to 1 AUD
as at 29 January 20261).
Jupiter will continue to hold the remaining 49.9% of Tshipi and will continue to exercise joint control over Tshipi
operations, consistent with the arrangements prior to the Tshipi Transaction. The terms of the Tshipi Shareholders
Agreement are unaffected by the transaction. Jupiter’s pro rata Tshipi marketing rights are likewise unaffected by the
Tshipi Transaction.
Jupiter Mines Chair Ian Murray said: “We are happy the Tshipi Transaction has advanced and look forward to welcoming
Exxaro as a major shareholder in Jupiter and JV partner in Tshipi in February 2026. Exxaro brings invaluable South
African operational and logistics expertise and a shared commitment to unlocking the full potential of the Tshipi operation
for the benefit of all stakeholders in Tshipi. Exxaro’s investment strengthens our platform for growth and supports our
strategy to consolidate and create value across the Kalahari Manganese Field.
On behalf of Jupiter’s Board and Management Team, sincere thanks are extended to Ntsimbintle Holdings and OM
Holdings for their longstanding partnership and significant contributions to Tshipi’s success.”

Further details of the Tshipi Transaction, and Exxaro’s other acquisitions, are available in Exxaro’s announcement to the
JSE released yesterday 29 January 2026