Jervois Global Ltd. Approves 2035 Net Zero Target for Finland Operations

The Roadmap sets Scope 1 and 2 GHG emission reduction targets of 40% by 2025, 60% by 2030 and 100% by 2035 from its 2020 baseline. Jervois Finland is on track to meet its 2025 target through a recently announced power purchase agreement1 to purchase renewable energy from windfarms (anticipated to reduce Jervois Finland's emissions by up to 30%); and its planned, budgeted and approved energy saving program, which is already underway.

Jervois Finland has a demonstrated track record in research, innovation and action to support the circular economy, increase energy efficiency and achieve a low carbon intensity. Since 2002, it has been setting, meeting or exceeding its energy efficiency targets that, in 2021 alone, yielded cost savings on the order of ~€0.5 million. In 2021, almost 100% of Jervois Finland's non-hazardous wastes were recycled or reused and, between 2020 and 2021, the proportion of all wastes going to final disposal declined from 24% to less than 9%. Water at the facility is recycled and reused over 5 times prior to discharge.

In addition to efforts to introduce technology innovations, process efficiencies and support the circular economy, the Carbon Reduction Roadmap is further informed by third-party Life Cycle Analysis ("LCA"), conducted at Jervois Finland in 2012, 2015 and 2019. Progress towards achieving the goal will be determined and disclosed through annual assessments of Global Warming Potential ("GWP").

Jervois supports the Paris Agreement and its target to limit global warming. Cobalt already plays a pivotal role in the net zero future through widespread adoption of electric vehicles. By reducing operational emissions associated with cobalt products, Jervois recognizes its role in further supporting the transition to net zero.

On behalf of Jervois Global Ltd.,

Bryce Crocker,

Chief Executive Officer

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Forward-Looking Statements

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule", "expected" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the future reduction in CO2eq emissions at the Finland operations, and certain other factors or information. Such statements represent Jervois' current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Jervois, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Jervois does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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1 Jervois ASX Announcement dated 20 October 2022.