Extension to Waivers

26 Nov 2024 22:35 CET

Jervois Global Limited (“Jervois”) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) and
Holder (defined below) have agreed to extend the Waiver and the Deferral of the
Idaho Cobalt Operations (“ICO”) Bonds as such terms are defined below) until 31
December 2024, to support potential transactions to restructure Jervois’ balance
sheet. Due diligence and negotiations continue to advance in respect of these
potential transactions.

The Holder is the majority bondholder of the US$100 million 12.5% ICO senior
secured bonds (the “ICO Bonds”) as well as lender under the Jervois Finland
working capital facility (“JFO Facility”).

In relation to the ICO Bonds, this extended waiver is in respect of all
financial covenants and certain potential cross-defaults (collectively the
“Waiver”) and the further extension of the ICO Bonds interest deferral with
respect to the semi-annual payments (the "Deferral").,

To be implemented, the Waiver, the Deferral and the Terms require approval of at
least 2/3 of the principal amount of the ICO Bonds. The process to obtain the
necessary written resolution of the ICO bondholders will commence and is
expected to be passed within the Waiver period, as the Holder has agreed that
its more than 2/3 of the principal amount of the ICO Bonds will approve the
Waiver, the Deferral and the Terms. The summons to be issued by the Bond trustee
is attached at Appendix A.

Jervois refers bondholders to the Annual Audited Financial Statements of Jervois
published on 19 March 2024 and of the Issuer, Jervois Mining USA on 24 April
2024 and interim financial statements of the Issuer on 30 August 2024.

The ICO Bonds were issued by a Jervois United States subsidiary, Jervois Mining
USA, secured by ICO and guaranteed by Jervois in 2021. The ICO Bonds also
continue in the ordinary course to be subject to no principal repayment until
the end of their existing 5-year term in July 2026.

This information is subject to disclosure pursuant to section 3.5.1 of the
Nordic AMB Issuer Rules.

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633242_241126 ICO Bond waiver cover and summons.pdf