Caledonia Mining Corporation Plc: Notification of relevant change to significant shareholder

Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) (NYSE AMERICAN: CMCL; AIM: CMCL) announces that it received notification on October 14, 2020, from BlackRock, Inc., which is a “significant shareholder” of the Company as defined by the AIM Rules for Companies, that it has slightly decreased its interest in the Company and on October 13, 2020 crossed a particular threshold for notification of its holdings in the Company. A copy of the notification is below.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:				Caledonia Mining Corporation Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer									X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights									X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name				BlackRock, Inc.
City and country of registered office (if applicable)				Wilmington, DE, USA
4. Full name of shareholder(s) (if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reachedvi:				13/10/2020
6. Date on which issuer notified (DD/MM/YYYY):				14/10/2020
7. Total positions of person(s) subject to the notification obligation
	% of voting rightsattached to shares (total of 8. A)		% of voting rightsthrough financial instruments (total of 8.B 1 + 8.B 2)			Total of both in % (8.A + 8.B)		Total number ofvoting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	4.80%		0.64%			5.45%		12,118,823
Position of previous notification (if applicable)	5.00%		0.40%			5.40%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type ofsharesISIN code (if possible)		Number of voting rightsix					% of voting rights
		Direct(Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct(Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)
JE00BF0XVB15				582,346					4.80%
SUBTOTAL 8. A		582,346					4.80%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expirationdatex	Exercise/ Conversion Periodxi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
Securities Lending						45,500			0.37%
			SUBTOTAL 8. B 1			45,500			0.37%
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration datex		Exercise/ Conversion Period xi		Physical or cash settlementxii			Number of voting rights	% of voting rights
CFD					Cash			32,901	0.27%
					SUBTOTAL 8.B.2			32,901	0.27%

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)				X
Namexv	% of voting rights ifit equals or is higherthan the notifiable threshold	% of voting rightsthrough financial instrumentsif it equals or is higher than the notifiable threshold	Total of both if it equalsor is higher than the notifiable threshold
See Attachment
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional informationxvi
BlackRock Regulatory Threshold Reporting Team Jana Blumenstein020 7743 3650

Place of completion	12 Throgmorton Avenue, London, EC2N 2DL, U.K.
Date of completion	14 October, 2020

Section 9 Attachment

Namexv	% of voting rightsif it equals or is higherthan the notifiable threshold	% of voting rights throughfinancial instruments if itequals or is higherthan the notifiable threshold	Total of both if itequals or is higherthan the notifiable threshold
BlackRock, Inc.
Trident Merger, LLC
BlackRock Investment Management, LLC
BlackRock, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Institutional Trust Company, National Association
BlackRock, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Capital Holdings, Inc.
BlackRock Advisors, LLC
BlackRock, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Fund Advisors
BlackRock, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock (Singapore) Holdco Pte. Ltd.
BlackRock HK Holdco Limited
BlackRock Lux Finco S.a.r.l.
BlackRock Japan Holdings GK
BlackRock Japan Co., Ltd.
BlackRock, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Canada Holdings LP
BlackRock Canada Holdings ULC
BlackRock Asset Management Canada Limited

For further information please contact:

Caledonia Mining Corporation Plc Mark Learmonth Camilla Horsfall	Tel: [phone] Tel: [phone]
WH Ireland Adrian Hadden/James Sinclair-Ford	Tel: [phone]
Blytheweigh Tim Blythe/Megan Ray   3PPB Patrick Chidley Paul Durham	Tel: [phone] Tel: [phone] Tel: [phone]