Jervois Global Ltd. Closes its SAO Miguel Paulista Refinery Acquisition

Victoria, July 18, 2022 - Jervois Global Ltd. ("Jervois") (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) has now closed its previously announced acquisition from Companhia Brasileira de Alumínio ("CBA") of 100% of the São Miguel Paulista nickel cobalt refinery ("SMP") in São Paulo, Brazil. Total consideration to be paid for the acquisition is R$125 million in cash. Jervois paid the initial R$15 million payment in late 2020 when the acquisition was publicly announced and a further R$47.5 million on closing in accordance with the previously announced terms of the purchase agreement. The remaining R$62.5 million is to be paid on the earlier to occur of commencement of commercial production at SMP and June 2023, per the purchase agreement.

A Jervois technical and commercial team is currently working onsite at SMP undertaking detailed planning for the expected restart of SMP which is Latin America's only electrolytic class 1 nickel and cobalt refinery.

On behalf of Jervois Global Ltd.,

Bryce Crocker, Chief Executive Officer

For further information, please contact:

Investors and analysts: James May Chief Financial Officer Jervois Global james.may@jervoisglobal.com

Media: Nathan Ryan NWR Communications nathan.ryan@nwrcommunications.com.au Mob: +61 420 582 887

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 acquisition of SMP refinery, the restart of the SMP refinery 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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