JUBILEE METALS GROUP PLC PRESENTATION DECEMBER 2018

Summary

Jubilee Metals Group(“Jubilee”) is a London and Johannesburg listed mine waste processing and metals recovery company, with projects in South Africa and Zambia.

Jubilee is raising project finance capital for the commissioningof the Kabwe Lead, Zinc and

Vanadium recovery project in Kabwe, Zambia as well as a Platinum and Chrome Project in South Africa

This document provides an overview of Jubilee, the Kabwe project and the proposed funding structure

Jubilee Metals Group PLC (AIM:JLP; JSE:JBL) is an industry acknowledged expert mine waste retreatment solutions provider, specialising in mineral recovery from tailings, slag, slurry and other secondary material produced by mining.

Jubilee has demonstrated a recovery skills base in the mine waste retreatment industry. This skill base has taken Jubilee into the board rooms of major mining houses, discussing their waste problems and potential benefits of retreatment.

Jubilee has the in-house ability to design, build and operate recovery plants and optimisation solutions for mining majors.

Proven success in the South African Chrome and PGM industry, working with Mitsubishi, Northam, Lonmin and other operators.

Jubilee Metals Group Metals Recovery Company

Existing Projects

Positioning:

Hernic and Chemstof Mine Dilokong Chrome Mine

The world’s largest platinum processing facility of chrome tailings with a targeted average of 55 000 tonnes per month processing capacity

3.3 million tonnes of platinum rich material at surface growing at 17 000 tonnes per month

Total Investment to construct processingunit of GBP 13 million

Keyprojectmilestones:

• Concluded construction January 2017

• First Platinum production March 2017

• First Chrome production February 2017

• Positive project earnings from June 2017

H ernic

Dilokong Chrome and Platinum

Chrome tailings recovery circuit with and average monthly processing capacity of 45 000 tonnes

1 000 000 tonnes of enriched platinum material at surface

Commissioning a state of the art fine chrome recovery circuit in Q4 2018 capable of processing 25 000 tonnes per month of fine chrome

Key projectmile stones:

• First Chrome production March 2016

• Positive project earnings from June 2016

Dilokong Chrome and Platinum

PlatCro Platinum and Chrome

Jubilee secures all PGM and Chrome rights of existing surface material and future material PlatCro is strategically located along the platinum and Chrome rich western limb of South Africa PlatCro currently holds 960 000 tonnes per annum processing facility

PlatCro Platinum Project

Processing agreement executed with Northam Platinum to recover PGMs at their Eland Platinum recovery circuit

Project targeting processing rate of 60 000 tonnes per month. Project will commence processing material from February 2019

1 850 000 tonnes of Platinum rich material at surface and all future arisings currently growing at approximately 12 000 tonnes per month

Containing estimated 2.7 g/t 4E PGMs before further upgrade through Chrome removal.

Targeting production of 30 000 PGM oz per annum

PlatCro Chrome Project

Processing capacity of 960 000 tonnes per annum from existing infrastructure Plant capacity utilised to process:

• Existing on-site tailings • 3rd party run of mine ore

Jubilee targets to enhance processing technology and capacity in excess of 1 mil tonnes per annum

JBL Recent Financial Highlights – Financial Year Ending June 2018

•Combined project revenue up 44.14 % to £ 14.14 million (ZAR 245.53 million) [2017: £ 9.81

million (ZAR 166.97 million)]

•Combined project attributable earnings up 206 % to £ 5.03 million (ZAR 86.80

million) [2017: £ 1.64 million (ZAR 28.20 million)]

Jubilee Project Performance

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HERNIC

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Kabwe Project

ndustrial Kabwe Social and I

Social Responsible Investment

Design Principles: Zero effluent facility ensuring no further contamination of soil or water

Implementation of a hydro mining solution, rather than the less expansive option of mechanical mining, specifically to suppress airborne dust in the area Upgrade of process flow sheet to avoid the addition of any chloride based salts, to avoid contamination of water systems Segregation of zinc and lead refinery to specifically contain all lead potential exposure to environment and people All lead final residues contained in fully lined facility

Capital effect: Approximately US$4.3 mil Support to Artisanal Mining: Currently engaging with regional authorities to offer processing and operational expertise to the sector, including health and safety The refinery design specifically allows for the processing of such material

Kabwe Zinc, Lead and Vanadium Project

Recovery of Lead, Zinc and Vanadiumfrom surface assets at Kabwe, Zambia

6.4 million tonnes (3.5 million JORC compliant) surface material containing an estimated 356 843 tonnes of Zinc and 351 386 tonnes of Lead

Jubilee holds 91.1% of the Kabwe project company

Jubilee has establishmenta metallurgical centre of excellence in Kitwe as technical support foot print to drive growth in Central Africa

Kabwe Key Transaction Terms

Jubilee owns direct interest of 87.5% in the project and combined with indirect holdings, holds 91.1% interest in Kabwe Project

Jubilee to provide initial required funding to construct required infrastructure to commence Kabwe Project.

Jubilee holds option to acquire 100% of the project

Capital expenditure to commence towards end of 2018 / 2019.

Zinc Production to commence first, thereafter Lead and Vanadium will follow

Jubilee to design, build and operate the plant

BMR has right to a Royalty of 12.5% after Jubilee has secured a minimum return of 20% on its total investment

Board of Directors

Board of Directors

Colin Bird – Non-Executive Chairman Colin is a Fellow of the Institute of Materials, Minerals and Mining and a UK Chartered Engineer. He holds a UK and South African Mine Managers Certificate for coal mines. The formative part of his career was spent in the UK coal mining industry and thereafter he moved to the Zambian copper belt and then to South Africa to work in a management position with Anglo Coal and BP Coal. On his return to the UK he was Technical and Operations Director of Costain Mining Ltd, which involved responsibility for Costain’s interest in the UK, Latin-America and Spain. Mr Bird has had senior technical and operational experience in a number of commodities to include coal, nickel, gold, copper and industrial minerals.

Leon Coetzer – Chief Executive Officer Leon is a graduate chemical engineer. Before Jubilee, he was employed for 20 years within the Anglo American PLC stable, of which 16 years were spent at Anglo Platinum. His last position was Head of Process Control and Instrumentation where he defined and managed the automation and process control strategy for Anglo Platinum. The programme has established itself as a recognised world leader in its field. He was a member of the Executive Process Committee, the Research and Development Council, and advisor to the asset optimisation initiative at Anglo Platinum. Throughout his career, he has managed both technical and production units of large operations, including both platinum concentrators and smelters, and was selected to partake in Anglo American’s global leadership programme. He is a member of the advisory Board of the process engineering faculties at both the University of Pretoria and the University of Stellenbosch and is also a member of the South African Institute of Mining and Metallurgy, and a member of the South African Institute of Directors.

Dr. Evan Kirby – Technical Director Evan is a metallurgist with over 40 years’ experience in the mining sector. He worked for 16 years in South Africa with Impala Platinum, Rand Mines and then Rustenburg Platinum Mines. In 1992, he moved to Australia and was employed by Minproc Engineers and then Bechtel Corporation, where he had management and technical responsibilities. In 2002, Evan established his own consulting business, Metallurgical Management Services. He has had leading roles in numerous metals & minerals projects, including many world-class developments. His experience base includes gold, platinum group metals, base metals, battery metals (graphite, lithium, vanadium), diamonds, coloured gemstones, and mineral sands.

Dr. Matthews Phosa – Non-Executive Vice Chairman Dr Mathews Phosa established the first black law firm in Nelspruit in 1981. He is a renowned strategic and business leader who has had an immeasurable impact on the lives of numerous South Africans. Dr Phosa sits on a number of listed company boards (Waterberg Coal Company Limited, Value Group, Jubilee Platinum) as well as a number of unlisted entities (Mathews Phosa & Associates, Hans Merensky Holdings, and du Toit Smuts & Mathews Phosa Attorneys).

Christopher Molefe – Non-Executive Director Mr Christopher Molefe was formerly the Chief Executive of Royal Bafokeng Resources Pty Ltd and is presently the Non-executive Chairman of Merafe Resources Ltd and a Non-executive Director of Capital Oil Pty Ltd. He currently holds Chairman positions with Bapo Ba Mogale Investments Holdings Pty Ltd, Transfrontier Capital Pty Ltd and Saldanha Bay Investment Corporation, all in South Africa. Mr Molefe has held several positions in corporate banking and industry for the previous 20 years.

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