This HTML version is machine-generated. Always consult the original document.

[Page 1]

LONDON
STOCK
EXCHANGE

An LSEG Business

NS Agreement

EMMERSON PLC

LITIGATION FUNDING SECURED

EMMERSON PLC

Released 07:00:06 01 January 2025

RNS Number : 8324R
Emmerson PLC
02 January 2025

2 January 2025

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

Emmerson PLC
("Emmerson" or the "Company")

Litigation Funding Secured
and
Litigation Counsel Confirmed

Emmerson Plc, the Moroccan focused potash development company, is pleased to announce th
Provision Agreement ("CPA") with a specialist litigation funding firm to provide up to US$11,0
finance capital and working capital for the Company (the "Funding") and has confirmed Boies Schil
its litigation counsel. The Company has also put a Management Incentive Plan into place.

Litigation funding

[Page 2]

The Funding shall primarily be used to progress the Company's dispute with the Government of
under the Agreement between the Government of the United Kingdom of Great Britain and N
Government of the Kingdom of Morocco for the Promotion and Protection of Investments, which
February 2002, being a Bilateral Investment Treaty (the "BIT").

Emmerson's CPA funding counterparty (the "Funding Party") is one of the world's largest and m
finance companies and a significant institution within the legal financing industry. The detaile
confidential but, in summary:

• Up to US$11,000,000 can be drawn down in tranches, at the Company's request, to
  requirements and for general working capital purposes;
• The Funding shall be provided on a non-recourse basis and the Funding Party shall
  arbitration claim is unsuccessful; and
• In the case of a successful settlement or award, the return to the Funding Party shall be ba
  multiple of the final drawn-down amount or a percentage of the final award.

The Company notes that it has obtained litigation funding for its potential arbitration proceedings
months from the original Notification of Dispute, a process that can typically take six to nine month
Company is of the opinion that the Funding will provide the platform to provide the best long-term

Litigation Counsel

The Company has confirmed the appointment of Boies Schiller Flexner LLP ("BSF") as its litigation c
successful track record in similar BIT arbitration cases, including some recent high-profile award
place for BSF to commence work in the New Year on our case.

Management Incentive Plan (MIP)

To retain the services of certain Directors and members of the Company's management team w
Company's ongoing management and the progress of the litigation, and who have important k
knowledge to contribute towards the litigation, the Company has established a long-term Manag
(the "MIP"). The retention of the assistance of the Directors and member of the Company's m
litigation through the MIP will allow the Company to maintain its compliance with the terms of the

In line with recent litigation funding cases, the named members of the MIP will be entitled to
monies awarded as damages to the Company ("Management Entitlement Amount") through arbitr
including early settlement.

After the final determination of each participant's entitlement to the Management Entitlemen
balance of the Management Entitlement Amount which has not been distributed to participant
Company.

Graham Clarke, Managing Director of Emmerson PLC commented:

"The Company has undertaken a tremendous amount of work and effort in a short period of ti
financing from a reliable funding partner. This CPA secures the medium-term future of the Compa
forward with BSF as our legal partners to deliver the best possible outcome for the Company and i
to only take on winning cases and their confidence in the case reinforces our confidence in the outco

**ENDS**

For further information, please visit www.emmersonplc.com, follow us on Twitter (@emm
contact:

[Page 3]

Notes to Editors

Emmerson has been focused on advancing the Khemisset project ("Khemisset" or the "Project") in
high margin supplier of potash, and the first primary producer on the African continent. With an i
the development of Khemisset is expected to deliver long-term investment and financial contributi
the creation of permanent employment, taxation, and a plethora of ancillary benefits. As a UK-M
Company has been working towards significant international investment over the life of the mine.

Morocco is one of the leading phosphate producers globally and the development of this mine
position as the most important fertiliser producer in Africa. The Project has a large JORC Resource
@ 9.24% K2O, with significant additional exploration potential, and is perfectly located to suppor
African fertiliser consumption whilst also being located on the doorstep of European markets. The
rapidly increasing population is driving demand for potash and Khemisset is well placed to benef
this presents. The Feasibility Study released in June 2020 indicated the Project has the potential
capital cost development stage potash projects in the world and also, as a result of its location, c
projects. Updated financial estimates published in February 2024 indicated a net present value
internal rate of return of approximately 40%.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitu
stipulated under the Market Abuse Regulations (EU) No. 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved
by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Terms and conditions relating to the use and distribution of this information may apply. For further
information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you
engage with the information contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services. For further information about how
RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy
Policy.

END

AGRUPUGAGUPAGQG

[Page 4]

London Stock Exchange plc is not responsible for and does not check content on
this Website. Website users are responsible for checking content. Any news item
(including any prospectus) which is addressed solely to the persons and countries
specified therein should not be relied upon other than by such persons and/or
outside the specified countries. Terms and conditions, including restrictions on use
and distribution apply.

© 2025 London Stock Exchange plc. All rights reserved.