JFR Investments Ltd. ('JFR Investments' or "the Company") as part of the group undertaking of the Ridge Solutions Group, provides the following business update:

A United Arab Emirates incorporated entity, JFR Investments, is pleased to announce another major milestone for the group, the Company signed second successive partnership and mining investments since 25 May 2021. JFR Investment secures arrangements for access to the Peruvian mining resources with the Company Negociaciones Y Construcciones, E.I.R.L. (Peruendes), a company incorporated in Peru with extensive mining resources, together referred as ‘parties’.

A special purpose vehicle, was established with brand, RS Global Peruendes, to leverage mining prospects to extract large scale resources for the Iron, Gold and Copper in the Peruvian mining belt. A strategic focus remains on front loading the exploration and production of the Iron Ore to cross integrate in our growing long term trading portfolio to sustain a significant growth trajectory of our group’s energy arm.

Our internal technical and commercial evaluations indicates Iron Ore’s forecast production of 735,000 metric tons during the first year, which will increase to 1,206,000 metric tons during the second year with further exponential growth over the mid to long term, which will strategically position the parties as a major player in the Peruvian mining sector.

Mr. Jose Ferreira Ramos, Chairman and Executive President of the JFR Investments, commented:

It’s an honour for me to release our second announcement in couple of weeks for undertaking another major partnership to leverage mining resources for the Iron, Gold and Copper in Peru. This milestone is part of our commitment to sustain our vision ‘to become a major and responsible mining player with centre of excellence at the heart of everything we do’.

Our integrated business strategy has started delivering results as we continue to tap in significant and commercially viable mining resources in Peru, these resources are in addition to recently announced similar partnership in Brazil. This partnership would allow us access to an optimal exploration and production with low cost (Capex and Opex) and large scale unextracted reserves, which will ring fence across our long term off-take agreements in trading segment of our group’s operations.

We pursued these negotiations for over a year and commercial interest aligned for parties to pursue strategic aspirations from a collective platform. Optimization and sustainability remains the driver for growth of our energy arm over long term with scalability and diversifications across mining resources and geographies.

I am proud to lead a dynamic and skilled team from the front to the back end of our energy arm, their skill sets are consolidated to deliver results in the next phase of our strategic plans to generate value across the group.

As a leader, the most exciting aspects is to pursue and build a great success story for our group and stakeholders.

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© Press Release 2021

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