GlobeNewswire Inc | Jan 12, 2022 02:00AM EST

January 12, 2022

ST HELIER, Jersey, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (the Company or Caledonia)(NYSE American: CMCL; AIM: CMCL; VFEX: CMCL) announces that following the maturing of long term incentive plan awards on January 11, 2022 which were made under the 2015 Omnibus Equity Incentive Compensation Plan of the Company (the Plan), a total of 76,520 common shares of no par value in the Company are being issued to members of staff within the Companys group, including in the form of depositary interests and Zimbabwe depositary receipts in respect of such shares, on or before January 14, 2022. The following Persons Discharging Managerial Responsibility within the meaning of the Market Abuse Regulation (EU) No. 596/2014 shall receive the securities set out below:

Number of Resulting interest in shareName Position depositary capital of the Company (number and interests issued percentage)Steve Director andCurtis Chief Executive 24,684 189,566 (1.48%) OfficerMark Director andLearmonth Chief Financial 28,487 168,262 (1.31%) Officer

Further details of the transactions are set out in the notifications below.

Application has been made by Caledonia for the admission of depositary interests representing all the issued shares to trading on AIM and it is anticipated that trading in such securities will commence on January 17, 2022. Following issue of all the shares, the Company will have a total number of shares in issue of 12,833,126 common shares of no par value each. Caledonia has no shares in treasury; therefore, this figure may be used by holders of securities in the Company as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company.

Enquiries

Caledonia Mining Corporation Plc Mark Learmonth Tel: +44 1534 679 802Camilla Horsfall Tel: +44 7817 841793 WH Ireland Adrian Hadden/ Andrew De Andrade Tel: +44 20 7220 1751 Blytheweigh Financial PR Tim Blythe/Megan Ray Tel: +44 207 138 3204 3PPB Patrick Chidley Tel: +1 917 991 7701Paul Durham Tel: +1 203 940 2538 Curate Public Relations (Zimbabwe) Debra Tatenda Tel: +263 77802131

Note: The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014(MAR)as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

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 associateda) Name Steve Curtis2 Reason for the notificationa) Position/status Director and Chief Executive Officerb) Initial notification/ Amendment Initial notification3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora) Name Caledonia Mining Corporation Plcb) LEI 21380093ZBI4BFM75Y51 Details of the transaction(s): section to be repeated for (i) each type of4 instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted Description of the financial instrument, type of Depositary interestsa) instrument representing common shares of no par value Identification code JE00BF0XVB15b) Nature of the transaction Issue of securitiesc) Price(s) and volume(s) Price(s) Volume(s) US$11.66 24,684d) Aggregated information - Aggregated volume 24,684 - Price US$11.66e) Date of the transaction 14 January 2022f) Place of the transaction AIM of the London Stock Exchange plc

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 associateda) Name Mark Learmonth2 Reason for the notificationa) Position/status Director and Chief Financial Officerb) Initial notification/ Amendment Initial notification3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora) Name Caledonia Mining Corporation Plcb) LEI 21380093ZBI4BFM75Y51 Details of the transaction(s): section to be repeated for (i) each type of4 instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted Description of the financial instrument, type of Depositary interestsa) instrument representing common shares of no par value Identification code JE00BF0XVB15b) Nature of the transaction Issue of securitiesc) Price(s) and volume(s) Price(s) Volume(s) US$11.66 28,487d) Aggregated information - Aggregated volume 28,487 - Price US$11.66e) Date of the transaction 14 January 2022f) Place of the transaction AIM of the London Stock Exchange plc