Early Warning Report Filed Pursuant to National Instrument 62-103 and 62-104

GUERNSEY, Channel Islands, Jan. 29, 2026 /CNW/ - Pallinghurst PGM Limited ("PPGM") announced today that on January 12, 2026, Amos Capital Limited ("Amos"), the parent and a joint actor of PPGM, completed the purchase of 278,023,860 Ordinary Shares in the capital of Sedibelo Resources Limited (the "Corporation") for aggregate consideration of US$898,017.07, or US$0.00323 per Ordinary Share, pursuant to a private transaction (the "Amos Acquisition").

As a result of the Amos Acquisition and treasury issuances of Ordinary Shares by the Corporation that have occurred since PPGM's initial acquisition of Ordinary Shares and Options on February 18, 2025 and announced in its news release dated March 5, 2025, PPGM's beneficial ownership, with Amos acting jointly or in concert, decreased by more than 2% of the Corporation's issued and outstanding Ordinary Shares on both a non-diluted and partially diluted basis.

Following the Amos Acquisition, PPGM continues to have beneficial ownership of 928,792,570 Ordinary Shares, representing approximately 7.50% of the issued and outstanding Ordinary Shares of the Corporation, and together with Amos, has beneficial ownership of 1,206,816,430 Ordinary Shares, representing approximately 9.74% of the issued and outstanding Ordinary Shares of the Corporation. PPGM also continues to have beneficial ownership of 2,321,981,424 Options, each exercisable to acquire one Ordinary Share (an "Option Share") at a price of US$0.00323 per Option Share for a period of three years from the date of issue. Apart from the Amos Acquisition, there have been no changes to the number of Ordinary Shares and Options held by PPGM as announced in its news release dated March 5, 2025.

Assuming all outstanding Options of the Corporation are exercised in full except for those held by PPGM, PPGM would hold 928,792,570 Ordinary Shares, representing approximately 3.90% of the total issued and outstanding Ordinary Shares of the Corporation, and together with Amos would hold 1,206,816,430 Ordinary Shares, representing approximately 5.07% of the total issued and outstanding Ordinary Shares of the Corporation. Alternatively, if only the Options held by PPGM are exercised in full while no other shareholders exercise their Options, PPGM's holdings would increase to 3,250,773,994 Ordinary Shares, representing approximately 22.10% of the issued and outstanding Ordinary Shares of the Corporation, while the holdings of PPGM and Amos together would increase to 3,528,797,854 Ordinary Shares, representing approximately 23.99% of the issued and outstanding Ordinary Shares of the Corporation. Like the Ordinary Shares and Options previously acquired by PPGM, Amos acquired the Ordinary Shares for investment purposes. PPGM and Amos may, from time to time, acquire additional securities, dispose of some or all of the currently held or additional securities or may continue to hold the securities of the Corporation.

An early warning report relating to these transactions will be filed on the System for Electronic Data Analysis and Retrieval + under the Corporation's profile and can be viewed at www.sedarplus.com. 

SOURCE Pallinghurst PGM Limited

For further information or to obtain a copy of the early warning report, please contact: Andrew Willis, Pallinghurst PGM Limited, [phone]