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JUPITER MINES LIMITED Jupiter Mines Limited Q1 FY2022 QUARTERLY ACTIVITIES REPORT ASX : JMS 22 June 2021 ABN : 51 105 991 740 Registered Office : Level 10 16 St Georges Terrace Perth WA 6000 T +61 8 9346 5500 E investorrelations @ jupitermines.com www.jupitermines.com Directors & Officers Brian Gilbertson Paul Murray Andrew Bell Jupiter Mines Limited ( ASX.JMS ) ( " Jupiter ” , or the " Company " , and together with its subsidiaries , the " Group " ) is pleased to provide the following activities report for the quarter ended 31 May 2021 . HIGHLIGHTS Mining efficiencies increased during May ; highest in Tshipi's history . " Exports ahead of plan for May quarter . " Jupiter's attributable cash balance is $ 51 million at end of the quarter . ■ Jupiter CEO , Priyank Thapliyal to conduct conference call on quarterly results later today at 4:30 pm AEST . TSHIPI BORWA MANGANESE MINE ( 100 % BASIS ) Jupiter has a 49.9 % beneficial interest in Tshipi é Ntle Manganese Mining Proprietary Limited ( " Tshipi " ) , which operates the Tshipi Borwa Manganese Mine in the southern portion of the Kalahari manganese field . Priyank Thapliyal Yeongjin Heo Hans Mende Brian Beem ( alternate to Hans Mende ) Melissa North Issued Capital Ordinary shares : 1,958,991,033 Primary Asset World class Tshipi Manganese Mine Production , sales and financial information for the quarter ended 31 May 2021 and comparatives are presented below . Q1 UNIT FY2022 Mined volume BCM 3,954,451 Production Tonnes 1,049,985 Sales Tonnes 846,214 Q4 FY2021 2,816,144 891,256 1,051,544 Q1 FY2021 2,361,031 694,769 321,733 Average CIF price achieved ( HGL ) USD / dmtu 4.56 3.93 4.21 Average FOB cost of production ( HGL ) ZAR / dmtu 32.66 33.44 36.10 Average exchange rate USD / ZAR 1 14.48 14.92 17.78 Average exchange rate AUD / ZAR 1 11.18 11.43 11.28 Sales revenue ( net of realisation costs ) AUD million 2 107.4 130.7 52.3 Earnings before interest , tax and AUD million 2 26.0 41.4 35.8 depreciation ( EBITDA ) Net profit after tax AUD million 2 16.2 26.3 23.5 Net cash from operating activities AUD million 2 7.7 22.0 48.0 Cash at bank AUD million 2 55.0 44.1 117.7