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Research

Each research note or other commentary set out below (together the “Research”) is non-independent research and a marketing communication under the FCA Conduct of Business Rules. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of the investment research. The provider of the Research may have procedures in place to manage any conflicts which might arise in the production of investment research, including Chinese Wall procedures.

The Research is designed for information purposes only and does not constitute a personal recommendation, offer or invitation by Alba Mineral Resources plc or any of its subsidiaries or any of its or their respective directors, officers, employees and contractors (together the “Alba Group”) to buy or sell any shares or other securities in Alba Mineral Resources plc or any other investment referred to within the Research. Investors should form their own conclusions and/or seek their own advice to determine whether any particular transaction is suitable for them in the light of their investment objectives, the benefits and risks associated with the transaction and all other relevant circumstances.

The views expressed in the Research are those of the provider of the Research and their analyst(s). No warranty or representation, express or implied, is made by any member of the Alba Group about the accuracy or completeness of the information in the Research, which may also be subject to change without notice or which may become out of date or obsolete after the date of its publication. Any opinion given in the Research reflects the judgement of the Research provider as at the date of this document’s publication and not the judgement of the Alba Group.

Forward Looking Statements

The Research 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 Alba Group’s or any third party’s ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided in the Research as a result of numerous known and unknown risks and uncertainties and other factors. Any or all statements about the future may turn out to be incorrect.