Caledonia Mining : CMCL.vx Notification of Shareholder

About this update from Caledonia Mining Corporation Plc

Caledonia Mining Corporation Plc PCA Shareholding Notification (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) May 20, 2026: Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on May 18, 2026 that Fremiro Investments (Private) Limited ("Fremiro"), a person closely associated with Mr July Ndlovu, a non-executive director and the Chairman of Caledonia, sold depositary interests representing 20,000 common shares in the Company on May 18, 2026 at a price of £17.19 per share. Following the sale by Fremiro, Mr Ndlovu now has a beneficial interest in 229,089 common shares in the Company. A copy of the notification is below. Enquiries: Caledonia Mining Corporation Plc Mark Learmonth Camilla Horsfall Cavendish Capital Markets Limited (Nomad and Broker) Tel: +44 1534 679 800 Tel: +44 7817 841 793 Adrian Hadden Tel: +44 207 397 1965 Camarco, Financial PR (UK) Elfie Kent Tel: +44 20 3757 4980 Curate Public Relations (Zimbabwe) Debra Tatenda Tel: +263 77802131 IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe) Lloyd Mlotshwa Tel: +263 (242) 745 119/33/39 Head and Registered Office: Caledonia Mining Corporation Plc 2 Mulcaster Street, St Helier, Jersey, Channel Islands, JE2 3NJ [email protected] | | https://www.caledoniamining.com NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Fremiro Investments (Private) Limited 2 Reason for the notification a) Position/status PCA of Mr July Ndlovu, Non-Executive Director and Chairman b) Initial notification/ Amendment Initial notification 3 Details of the issuer, emission allowance market participant,auction platform, auctioneer or auction monitor a) Name Caledonia Mining Corporation Plc b) LEI 21380093ZBI4BFM75Y51 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of instrument Identification code Depositary interests representing common shares of no par value JE00BF0XVB15 b) Nature of the transaction Sale of securities by Fremiro Investments (Private) Limited in which Mr Ndlovu is a shareholder c) Price(s) and volume(s) Price(s) Volume(s) £17.19 20,000 d) Aggregated information Aggregated volume Price N/A e) Date of the transaction May 18, 2026 f) Place of the transaction AIM of LSE

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