Result of Placing and Subscription

Emmerson Plc (AIM: EML), is pleased to announce that further to the announcement released at on 20 March 2026 (the "Launch Announcement"), the Placing has now closed and the Bookbuild has been successfully concluded. Terms defined in the Launch Announcement have the same meanings in this announcement.

The gross proceeds from the Placing and Subscription amounted to £750,000 through the issue of, in aggregate, 37,500,000 new Ordinary Shares at the Issue Price of 2 pence per new Ordinary Share.

The Company also intends to launch a Retail Offer, open to existing shareholders via the Winterflood Retail Access Platform to allow existing shareholders to participate at the Issue Price. A further announcement will be made shortly regarding the Retail Offer and its terms.

The proceeds from the Placing and Subscription, together with the proceeds of the Retail Offer, will primarily be used to cover the costs of remediation of the site of the Mine de Centre (a former salt mine situated in the previously held licence area in Morocco) and to, pay invoices for completed engineering work and supplementary consultancy work in preparation of the legal case.

Admission to AIM

Application will be made to the London Stock Exchange plc for the admission of the Placing and Subscription Shares to trading on AIM ("Admission") and it is expected that Admission will occur at 8.00 a.m. on 27 March 2025 or such later time and/or date as VSA Capital and the Company may agree (being in any event no later than 8.00 a.m. on 2 April 2025).

A further announcement will be made in due course in relation to the total number of voting rights of the Company from the new Ordinary Shares issued pursuant to the Retail Offer, which it is intended will admit to trading on the same day as the Placing Shares and the Subscription Shares.

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Notice to Distributors

UK Product Governance Requirements

Solely for the purposes of the product governance requirements contained within chapter 3 of the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK Product Governance Requirements") and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the UK Product Governance Requirements) may otherwise have with respect thereto, the Placing Shares and Subscription Shares have been subject to a product approval process, which has determined that the Placing Shares and Subscription Shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in chapter 3 of the FCA Handbook Conduct of Business Sourcebook ("COBS"); and (ii) eligible for distribution through all permitted distribution channels (the "UK Target Market Assessment"). Notwithstanding the UK Target Market Assessment, distributors should note that: the price of the Placing Shares and Subscription Shares may decline and investors could lose all or part of their investment; the Placing Shares offer no guaranteed income and no capital protection; and an investment in Placing Shares or Subscription 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 UK Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Placing and the Subscription. Furthermore, it is noted that, notwithstanding the UK Target Market Assessment, VSA Capital and H&P will only procure investors who meet the criteria of professional clients and eligible counterparties.

EU Product Governance Requirements

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended and as this is applied in the United Kingdom ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II and 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; and (c) local implementing measures (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 Ordinary Shares have been subject to a product approval process, which has determined that such securities 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 MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). The Ordinary Shares are not appropriate for a target market of investors whose objectives include no capital loss. Notwithstanding the Target Market Assessment, distributors should note that: the price of the Ordinary Shares may decline and investors could lose all or part of their investment; the Ordinary Shares offer no guaranteed income and no capital protection; and an investment in the Ordinary Shares is compatible only with investors who do not need a guaranteed income or capital projection, 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 Placing and Subscription. Furthermore, it is noted that, notwithstanding the Target Market Assessment, VSA Capital and H&P will only procure investors 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 MiFID II; 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 Ordinary Shares. Each distributor is responsible for undertaking its own target market assessment in respect of the shares and determining appropriate distribution channels.

Notice to overseas persons

General

This Announcement has been issued by, and is the sole responsibility of, the Company.

VSA Capital, which is authorised and regulated by the FCA in the United Kingdom, is acting as Broker to the Company in connection with the Placing and the Subscription. VSA Capital will not be responsible to any person other than the Company for providing the protections afforded to clients of VSA Capital or for providing advice to any other person in connection with the Placing, the Subscription or any other acquisition of shares in the Company. VSA Capital is not making any representation or warranty, express or implied, as to the contents of this Announcement. VSA Capital has not authorised the contents of, or any part of, this Announcement, and no liability whatsoever is accepted by VSA Capital for the accuracy of any information, or opinions contained in this Announcement or for the omission of any material information, save that nothing shall limit the liability of VSA Capital for its own fraud.

This Announcement does not constitute a recommendation concerning any investor's investment decision with respect to the Placing or Subscription. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this Announcement and publicly available information.

The Appendix to this Announcement sets out the terms and conditions of the Placing. By participating in the Bookbuild, each person who is invited to and who chooses to participate in the Placing by making or accepting an oral and/or written legally binding offer to subscribe for Placing Shares will be deemed to have read and understood this Announcement (including the Appendix ) in its entirety, to be making or accepting such offer on the terms and subject to the conditions of the Placing set out in this Announcement and to be providing the representations, warranties, undertakings, agreements and acknowledgements contained in the Appendix.