Emmerson Regulatory News (EML)

The following amendment has been made to the 'Director/PDMR Shareholding' announcement released on 18 July 2022 at 4.00 p.m. under RNS No 8650S.

The LEI has been corrected to 213800JA8ZK1K6CWYP61.

All other details remain unchanged.

The full amended text is shown below.

Emmerson PLC / Ticker: EML / Index: LSE / Sector: Mining

18 July 2022

Director/PDMR Shareholding

Emmerson, which is developing the world class Khemisset Potash Project in Morocco, today announces the purchase of ordinary shares of nil par value in the capital of the Company ("Ordinary Shares") by Mr Rupert Joy, Non-Executive Director. Mr Joy purchased 140,000 Ordinary Shares at 7.025 pence per share. Following this purchase, Mr Joy holds 290,000 Ordinary Shares representing approximately 0.032% per cent of the Company's issued share capital.

**ENDS**

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Notes to Editors

Emmerson is focused on advancing the Khemisset project ("Khemisset" or the "Project") in Morocco into a low cost, high margin supplier of potash, and the first primary producer on the African continent. With an initial 19-year life of mine, the development of Khemisset is expected to deliver long-term investment and financial contributions to Morocco including the creation of permanent employment, taxation and a plethora of ancillary benefits. As a UK-Moroccan partnership, the Company is committed to bringing in significant international investment over the life of the mine.

Morocco is widely recognised as one of the leading phosphate producers globally, ranking third in the world in terms of tonnes produced annually, and the development of this mine is set to consolidate its position as the most important fertiliser producer in Africa. The Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24% K2O, with significant exploration potential, and is perfectly located to support the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. The need to feed the world's rapidly increasing population is driving demand for potash and Khemisset is well placed to benefit from the opportunities this presents. The Feasibility Study released in June 2020 indicated the Project has the potential to be among the lowest capital cost development stage potash projects in the world and also, as a result of its location, one of the highest margin projects. This delivered outstanding economics, including a post-tax NPV8 of approximately US$1.4 billion using industry expert Argus' price forecasts, and the spot price for granular MOP fertiliser has since risen, further enhancing the valuations.