Request for Arbitration

Emmerson Plc, the Moroccan focused potash development company, is pleased to provide an update on the dispute with the Kingdom of Morocco in relation to the Khemisset Potash Project in Morocco (the "Project").

• A Request for Arbitration (RFA) has been submitted to the International Centre for Settlement of Investment Disputes (ICSID), an arm of the World Bank with regard to various breaches, by the Government of the Kingdom of Morocco and its Agents, of the Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Kingdom of Morocco for the Promotion and Protection of Investments, which was signed on 30 October 1990 and entered into force on 14 February 2002 (the "BIT").
• Emmerson is bringing a claim for full compensation in respect of the Khemisset Potash Project which it had internally valued at $2.2 billion.
• All the legal costs in relation to the matter as well as a significant portion of G&A costs are to be funded through the $11.2 million litigation funding facility confirmed in January 2025.
• Emmerson, through the Company's legal advisors Boies Schiller Flexner (BSF), are working on the formation of the arbitral tribunal and preparing a formal Memorial submission.

The Request for Arbitration and Next Steps

The lodging of the RFA with ICSID is the first formal step in the arbitration process.

Once the RFA is received by ICSID, copies are to be sent to all relevant parties in the case, being the appropriate people within the Government of the Kingdom of Morocco.

The RFA itself is a document that lays out the general background and details of the case in relation to Morocco's expropriation of the Project. In due course, the Company will make further announcements concerning the constitution of the arbitral tribunal, the filing of written submissions, including a substantiated damages figure, and the evidentiary hearing, which the Company understands will take approximately two years from the submission of the RFA.

Graham Clarke, Managing Director of Emmerson PLC commented:

"The completion and lodgement of the RFA with ICSID is a significant step and marks the formal commencement of the litigation process. The Company is working closely with our lawyers at BSF and as a group we remain confident in the merits of this case. We look forward to providing further updates in due course".

For further information, please visit www.emmersonplc.com , follow us on Twitter (@emmerson_plc), or contact: Emmerson Plc Graham Clarke / Hayden Locke +44 (0) 207 138 3204 Panmure Liberum Limited (Nominated Adviser and Broker) Scott Mathieson / Will King +44 (0) 20 3100 2000