Results of Oversubscribed REX Retail Offer

Emmerson PLC ("Emmerson" or the "Company"), the Moroccan focused potash development company, is pleased to announce that, further to today's earlier announcement regarding the REX Retail Offer, it has successfully raised aggregate gross proceeds of £240,000 pursuant to the REX Retail Offer, alongside the previously announced subscription agreement with Global Sustainable Minerals Pte Ltd ("GSM") and Gold Quay Capital Pte Ltd ("GQC") (together the "Strategic Investors").

The REX Retail Offer was significantly oversubscribed, and demand has therefore been scaled back to the previously set maximum of £240,000.

Accordingly, the Company will issue a total of 13,714,286 new ordinary shares ("Ordinary Shares") at the issue price of 1.75 pence per Ordinary Share pursuant to the REX Retail Offer.

Total Voting Rights

Following the admission of these shares to trading on the AIM market of the London Stock Exchange, together with the 98,639,456 shares subscribed for by the Strategic Investors announced earlier today (both expected to occur at 8.00 a.m. on 22 April 2024), the Company's issued share capital will consist of 1,139,096,966 Ordinary Shares with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Company's LEI is 213800JA8ZK1K6CWYP61

Information to Distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("Directive 2014/65/EU"); (b) Articles 9 and 10 of MiFID II; and (c) local implementing measures; and/or (d) (where applicable to UK investors or UK firms) the relevant provisions of the UK statutory instruments implementing Directive 2014/65/EU and Commission Delegated Directive (EU) 2017/593, Regulation (EU) No 600/2014 of the European Parliament, as they form part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (together, the "UK MiFID Laws") (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the REX Retail Offer Shares have been subject to a product approval process, which has determined that the REX Retail Offer Shares are: (i) compatible with an end target market of retail investors who do not need a guaranteed income or capital protection and investors who meet the criteria of professional clients and eligible counterparties, each as defined in Directive 2014/65/EU and the UK MiFID Laws (as applicable) (the "Target Market Assessment").

Notwithstanding the Target Market Assessment, distributors should note that: the price of the REX Retail Offer Shares may decline and investors could lose all or part of their investment; the REX Retail Offer Shares offer no guaranteed income and no capital protection; and an investment in the REX Retail Offer Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the REX Retail Offer. Furthermore, it is noted that, notwithstanding the Target Market Assessment, Peel Hunt LLP will only contact prospective applicants for participation in the REX Retail Offer who meet the criteria of professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of Directive 2014/65/EU or the UK MiFID Laws; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the REX Retail Offer Shares. Each distributor is responsible for undertaking its own target market assessment in respect of the REX Retail Offer Shares and determining appropriate distribution channels.

It is further noted that the REX Retail Offer is only open to investors in the United Kingdom who fall within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (which includes an existing member of the Company).