Alteration Earth Update

Primorus Investments plc

("Primorus" or the "Company")

Update on Alteration Earth PLC Investment

Further to the RNS announcement dated 24 December 2021, in relation to the Company's investment into Alteration Earth PLC ("ALTE"), Primorus provides a brief update as set out below.

Primorus has, today, signed a deed of amendment which extends the time period for ALTE to complete its prospectus and obtain its listing on the Standard Segment of the Main Market of the London Stock Exchange.

The date has been extended from 4 February 2022 to 4 March 2022.

The Company has been informed that the prospectus has been submitted for its third reading and ALTE expects to receive the FCA comments in mid-February. Following this, and assuming no material issues are raised, ALTE is expecting to obtain its listing without any further amendments to the timeframe.

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Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.