January 2018

Jupiter announces a US$42 million share buy-back; Pallinghurst stands to receive a further ZAR94 million

Jupiter Mines Limited (“Jupiter”) has announced the indicative terms of an off-market equal access share buy- back (“Buy-Back”) pursuant to which it intends to return US$42 million to its shareholders. All Jupiter shareholders are to be made an equal offer to have 5.82% of their Jupiter shares repurchased, at a price of US$0.35 per Jupiter share. Pallinghurst owns approximately 18.4% of Jupiter and stands to receive almost US$8 million (ZAR94 million) in March 2018.

Notification of change in auditor

Pallinghurst shareholders are advised in terms of paragraph 3.78 of the JSE Listings Requirements that BDO LLP have been appointed as the Company’s external auditors for the financial year ending 31 December 2017, with Mr Scott Knight as the designated audit partner, replacing Saffery Champness Chartered Accountants (“Saffery Champness”).