JUPITER MINES LIMITED. — Capital/Financing Update 2021

Mar 7, 2021

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JUPITER MINES LIMITED

ABN 51 105 991 740 ASX: JMS

Announcement 8 March 2021

Registered Office: Level 10 16 St Georges Terrace Perth WA 6000

Phone: +61 8 9346 5500 Email: investorrelations@ jupitermines.com Website: www.jupitermines.com

JUNO MINERALS DEMERGER & IPO BLOCKED BY STICHTING PENSIOENFONDS ABP

Jupiter Mines Limited (“Jupiter”) (ASX: JMS) advises that despite the overwhelming support for the demerger of Juno Minerals Limited (“Juno”) at its General Meeting of 19 February 2021, the demerger and initial public offering (“IPO”) of Juno has been halted.

Stichting Pensioenfonds ABP (“ABP”), a Jupiter shareholder, have confirmed that they do not intend to meet the regulatory requirements of the Foreign Investment Review Board (“FIRB”), which is a condition of the in-specie distribution and capital reduction.

The Boards of Jupiter and Juno are now assessing its future options and will update the markets in due course.

Jupiter and Juno would like to thank all other shareholders and IPO applicants for their strong support for the demerger and IPO to date.

Jupiter’s CEO, Priyank Thapliyal commented that “the IPO and the potential uplift that would have occurred with the construction of Mount Mason in the near term in this robust iron ore price market was the optimal structure to release substantial value for Jupiter shareholders. Needless to say, this has been usurped for all the shareholders by the decision of one shareholder, ABP.”

For, and on behalf of the Board,

Directors & Officers:

Brian Gilbertson Paul Murray Andrew Bell Priyank Thapliyal Yeongjin Heo Hans Mende Brian Beem (alternate to Hans Mende)

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Brian Gilbertson Chairman

Melissa North

Issued Capital : Ordinary shares: 1,958,991,033

Current Assets:

• World class Tshipi Manganese Mine

• Advanced Central Yilgarn Iron Ore Projects

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