Launch of Share Buyback

Sylvania (AIM: SLP), the platinum group metals ("PGM") and emerging chrome producer and developer with assets in South Africa, announces that it intends to conduct a Share Buyback Programme (the "Share Buyback") on-market to purchase Ordinary US$0.01 Shares ("Ordinary Shares") of the Company's issued share capital, up to a maximum consideration of US$1.5 million ("Maximum Amount"). The purpose of the Share Buyback is to return capital back to shareholders, as announced in the Full Year Financial Results.

The Company has instructed Panmure Liberum Limited to execute the Share Buyback, including its irrevocable appointment to purchase shares with absolute discretion during any closed period. The Share Buyback will be carried out under the terms and authority of the Company's Bye Laws and all Ordinary Shares purchased will be held in treasury.

The Share Buyback will be funded from the Company's current cash balance.

Shareholders should be aware that the number of Ordinary Shares acquired by Panmure Liberum on any trading day shall not represent more than 25% of the average daily volume of the Shares on that relevant trading venue calculated based on the average daily volume of Ordinary Shares traded during the 20 trading days preceding the date of purchase of such Ordinary Shares.

There is no guarantee that the Share Buyback will be implemented in full or that any repurchases will be made.

The Share Buyback will be effective from the date of this announcement and the Share Buyback will terminate on the earliest of the date on which the Maximum Amount has been reached or 31 March 2027.

The Company intends to comply as far as practicable with Article 5(1) of Regulation (EU) No 596/2014 ("MAR"). However, there may be circumstances where, given the limited liquidity in the Ordinary Shares, the Company may not be able to benefit from this exemption.

Any market purchase of Ordinary Shares pursuant to the Share Buyback Programme will be announced no later than the following business day on which the purchase occurred.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Jaco Prinsloo.