Investor Presentaiton

Jupiter Mines Limited Ownership Structure Strong BEE Partner - Great Relationship Main Street 774 (Pty) Ltd (Main Street), is a broad-based black economic empowerment (B-BBEE) special purpose vehicle, with its major shareholder being Ntsimbintle Mining (Pty) Ltd (Ntsimbintle). Ntsimbintle, a B-BBEE company, was formed in 2003 to pursue exploration and mining opportunities emerging in the South African manganese sector and was awarded prospecting rights over portions of the Mamatwan permit in which the Tshipi Project is located. In 2006, Ntsimbintle commenced prospecting on the Mamatwan permit and in 2007, Ntsimbintle formed a joint venture with the Pallinghurst Co-Investors, pursuant to which, the Pallinghurst Co-Investors acquired a 49.9% interest in Tshipi é Ntle. In 2010, Ntsimbintle concluded an agreement with OM Holdings Ltd (OM Holdings), which resulted in OM Holdings acquiring a direct 26% shareholding in Main Street (with a 74% shareholding retained by Ntsimbintle), which in turn owns 50.1% of Tshipi é Ntle. Ntsimbintle has a beneficial interest of over 37% in Tshipi which is well above the current minimum BEE ownership target of 26% 1 Ntsimbintle was a contributing partner (not free carried) and has always been a strong and reliable partner since inception - the relationship with Jupiter is strong Jupiter Mines Limited 100% Jupiter Kalahari Ltd 49.9% 1. Ntsimbintle Mining (Pty) Ltd 74% Tshipi é Ntle Manganese Mining M OM HOLDINGS LTD 26% Main Street 774 (Pty) Ltd 50.1% The Broad Based Socio-Economic Empowerment Charter for the Mining and Minerals Industry, 2018 (the "2018 Mining Charter") was published on 27 September 2018. Tshipi complies with the required ownership percentage of 26% for existing mining rights. 26

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