*Huge dividends are back. Is a takeover offer coming in the future?*

ASX: JMS announces its final dividend of $0.02 (unfranked; total FY2021 payout ratio of 94%).

Yield 10.1% on closing share price as at 21 April 2021

Highlights:
1. Double digit dividend yield and over 70% payout ratio

2. Optimisation of the portfolio, via the Juno Minerals demerger

3. Expansion of Tshipi to a 4.5 Mtpa operation (subject to meeting consistent mining targets) to leverage upon growth in the steel and EV battery markets and resource depletion at existing mines

4. Cost optimisation via additional rail transport channels and the barrier pillar agreement between Tshipi and the Mamatwan manganese mine.

Jupiter welcomes the announcement by Ntsimbintle Holdings (Pty) Ltd (“Ntsimbintle”) that it has increased its stake in Jupiter to 19.9%. This confirms the appeal and merits of Jupiter, its “lean-and-mean” operations, and its ASX-listing to all shareholders.

Quarter ended 28 February 2021.

HIGHLIGHTS

Tshipi achieves second highest year of exports, despite challenging environment through the year.

ZAR1.1 billion second half dividend paid to Tshipi shareholders.

Progression of the demerger of Jupiter’s Central Yilgarn Iron Ore Assets continues.

Jupiter’s attributable cash balance is $88 million at end of the quarter.