Directorate Change

13 December 2018

Majedie Investments PLC

Directorate Change

Majedie Investments PLC announces that Andrew Adcock will temporarily step down as Chairman of the Board with immediate effect for health reasons. Mr Adcock will remain on the Board of the Company.

David Henderson will become interim Chairman of the Board whilst Mr Adcock recuperates, and Paul Gadd will remain on the Board. The Board wishes Mr Adcock all the best for his recovery and looks forward to his return as Chairman of the Board in due course.

The Board is delighted to announce that Jane Lewis will be appointed to the Board as a non-executive director with effect from 1 January 2019. Ms Lewis was until 2013, a director of corporate finance and broking at Winterflood Investment Trusts. She is a non-executive director of Blackrock World Mining Trust plc, BMO Capital and Income Investment Trust Plc, Invesco Perpetual UK Smaller Companies Investment Trust Plc and Scottish Investment Trust PLC. She resigned, as a non-executive director, from the Phaunos Timber Fund Limited on 31 August 2017.

The Board intends to commence a process to appoint a further non-executive director who will be able to take over from Mr Henderson as Chairman of the Audit Committee in due course.

There is no information concerning Ms Lewis that is required to be disclosed pursuant to Listing Rule 9.6.13R (2) to (6) inclusive and the Board considers her to be independent on appointment in accordance with the AIC Code of Corporate Governance. Ms Lewis does not currently hold any shares in the Company.