CMCL Caledonia Mining Corporation Plc

Caledonia Mining Corporation Plc ("Caledonia" or the "Company") (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announces that it received notification on September 19, 2023 from Allan Gray Proprietary Limited of a change to its interest in the Company and on September 15, 2023 crossed a particular threshold for notification.

A copy of the notification is below.

Enquiries:

Caledonia Mining Corporation PlcMark LearmonthCamilla Horsfall	Tel: +44 1534 679 800Tel: +44 7817 841 793
Cavendish Securities plc (Nomad and Joint Broker)Adrian HaddenNeil McDonaldPearl Kellie	Tel: +44 (0)20 7220 0500
Liberum Capital Limited (Joint Broker)Scott Mathieson/Kane Collings	Tel: +44 20 3100 2000
BlytheRay Financial PR (UK)Tim Blythe/Megan Ray	Tel: +44 207 138 3204
3PPB (Financial PR, North America)Patrick ChidleyPaul Durham	Tel: +1 917 991 7701Tel: +1 203 940 2538
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

TR-1: Standard form for notification of major holdings

1. Issuer Details ISIN JE00BF0XVB15 Issuer Name CALEDONIA MINING CORPORATION PLC UK or Non-UK Issuer UK

2. Reason for Notification An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation Name Allan Gray Proprietary Limited City of registered office (if applicable) Cape Town Country of registered office (if applicable) South Africa

4. Details of the shareholder Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached 15-Sep-2023

6. Date on which Issuer notified 19-Sep-2023

7. Total positions of person(s) subject to the notification obligation

	% of voting rights attached to shares (total of 8.A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached	10.923700	0.000000	10.923700	2096043
Position of previous notification (if applicable)	11.275500	0.000000	11.275500

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached 8A. Voting rights attached to shares

Class/Type of shares ISIN code (if possible)	Number of direct voting rights (DTR5.1)	Number of indirect voting rights (DTR5.2.1)	% of direct voting rights (DTR5.1)	% of indirect voting rights (DTR5.2.1)
JE00BF0XVB15	2096043		10.923700
Sub Total 8.A	2096043		10.923700%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument	Expiration date	Exercise/conversion period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument	Expiration date	Exercise/conversion period	Physical or cash settlement	Number of voting rights	% of voting rights
Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation 1. 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) issuer.

Ultimate controlling person	Name of controlled undertaking	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion 19-Sep-2313. Place Of Completion Cape Town