APF.L Regulatory News (APF)

News Release

31 October 2019

Anglo Pacific Group PLC

Board Changes

Anglo Pacific Group PLC ("Anglo Pacific", the "Company" the "Group") (LSE: APF, TSX: APY) is pleased to announce the appointment of Jim Rutherford and Graeme Dacomb to the Board and the retirement of David Archer as a non-executive director and as the senior independent director.

Graeme Dacomb will be appointed as an independent non-executive director of the Company, effective from 1 November 2019. Graeme will also serve on the Company's audit and remuneration committees.

Graeme was a partner at Ernst and Young for 26 years where, for his last twelve years, he was a lead partner in the extractive industry, responsible for coordinating the provision of a full suite of services to multinational mining and oil and gas clients, including Xstrata, Fresnillo, and BP, across a broad range of countries including emerging markets. In addition to audit services, he provided critical advice for his clients on corporate governance structures, risk management, acquisitions, disposals and financial systems and controls. From 2011 to 2018, Graeme was a member of the Financial Reporting Review Panel. In June 2019, he was appointed as a non-executive director of Ferrexpo plc and Chair of the audit committee.

Jim Rutherford will be appointed as an independent non-executive director of the Company, effective from 1 November 2019. Jim will also serve on the Company's audit and remuneration committees.

Jim has over 25 years' experience in investment banking and investment management. He was a senior vice president of Capital International Investors for 16 years where he was responsible for investments in the mining and metals industry. Jim has been an independent non-executive director of Anglo American plc since 2013 and sits on the audit, sustainability and remuneration committees. He is also an independent non-executive director of GT Gold Corp. and the Tantallon India Fund. Until September 2018, he served as Chairman of Dalradian Resources Inc until its acquisition by Orion Mine Finance. He brings capital markets expertise and an in-depth knowledge of the mining industry to the Board.

These appointments have been made following an extensive search undertaken by a specialised executive search firm.

Following five years of service on the Board, David Archer has advised the Company that he intends to step down as a non-executive director as of 1 November 2019 in order to focus on his other business interests. David has been instrumental in assisting the Company through its considerable growth since his appointment, particularly with his perspectives from his experience in the international mining industry. David also served as the senior independent director and an announcement will be made in due course as to who will fulfil this role in the future.

Patrick Meier, Chairman of Anglo Pacific commented:

"We are delighted to welcome Graeme and Jim to the Board. They have both been closely involved in the mining industry for many years and we look forward to benefiting from their different perspectives. Graeme will bring his experience of many varied transactions across the sector as well as technical accounting strengths, whilst Jim will provide insights from an investor and markets perspective, supplemented by his broad industry experience. We continue to seek to grow our business for the long term and these additions to the Board will assist us as we pursue this path.

I would also like to express my deep gratitude to David Archer who has played an active and constructive role on the Board since his appointment in October 2014. He has made a key contribution and provided excellent counsel on corporate strategy and governance. We will miss his perspective and good advice and I wish him well with his other business activities."

Jim Rutherford, commented:

"I am very pleased to be joining the Board of Anglo Pacific, a company whose progress I have followed for some time. Anglo Pacific has an excellent business model for providing a de-risked form of exposure to the mining sector. I have a high regard for the management team and Board and look forward to helping with their growth ambitions in the future."

Graeme Dacomb, commented:

"Anglo Pacific offers an interesting and different perspective to the mining industry in which I have been very active for many years. I look forward to getting closely involved with the activities of the Company and the Board. I am excited about the prospects for a sustainable and growth-oriented future."

For further information:

About the Company

Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to develop a leading international diversified royalty and streaming company with a portfolio centred on base metals and bulk materials, focusing on accelerating income growth through acquiring royalties and streams on projects that are currently cash flow generating or are expected to be within the next 24 months, as well as investment in earlier stage projects. It is a continuing policy of the Company to pay a substantial portion of these royalty and stream revenues to shareholders as dividends.