Acquisition of Ordinary Shares of Jervois Mining Limited

MELBOURNE,Australia,Sept. 1,2021 -- AustralianSuper announces that it subscribed for 114,286,523 ordinary shares ("Shares") in the capital of Jervois Mining Limited (ASX: JRV) (TSX-V: JRV) ("Jervois") on 5 August 2021 and a further 53,582,703 Shares on 31 August 2021,such that immediately following the second subscription,AustralianSuper held a total of 278,715,530 (or approximately 18.40%) of the issued and outstanding Shares in Jervois.

The Shares were acquired pursuant to private placements and entitlement offers by Jervois to institutional and sophisticated investors. The average purchase price per Share was AUD0.44/ CAD0.41 for an aggregate total purchase consideration of AUD73.9 million/CAD68.1 million.

The head office of Jervois is located at Suite 508,737 Burwood Road,Hawthorn East,Victoria,3123,Australia.

AustralianSuper acquired the Shares for investment purposes in the normal course of its business and not with the purpose of influencing the control or direction of Jervois. AustralianSuper may in the future,subject to market conditions,make additional investments in or dispositions of Jervois' securities for investment purposes.

This news release is issued by AustralianSuper pursuant to National Instrument 62-104 Take-Over Bids and Issuer Bids of the Canadian Securities Administrators. AustralianSuper will file a report in respect of its acquisition of Shares with the applicable securities commission or securities regulator in each Canadian jurisdiction in which Jervois is a reporting issuer. A copy of the report may be obtained from Janine Cooper (phone: +61 3 8677 3203) at Level 30/130 Lonsdale Street Melbourne,3000,Australia. AustralianSuper has also made the necessary disclosures on the Australian Stock Exchange (ASX).

About AustralianSuper

AustralianSuper is Australia's largest superannuation fund and is regulated by the Australian Prudential Regulation Authority. AustralianSuper manages more than A$232 billion of members' retirement savings on behalf of more than 2.45 million members from around 364,000 businesses as at 30 June 2021.

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