Vendor Financing Facility Agreement

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that its subsidiary, Azerbaijan International Mining Company Limited ("AIMC"), has signed a Vendor Financing Facility Agreement (the "Facility") with Caterpillar Financial Services Corporation ("Cat Financial").

In December 2023, AIMC took delivery of a fleet of Cat® underground mining equipment for its new Gilar mine, comprising three R1700 underground loaders and two 980UMA underground loaders. The underground fleet cost $4.6 million which has already been paid by AIMC. $3.7 million of that purchase price will be refinanced by the Facility which has now been agreed and signed.

This is the first time Cat Financial will provide vendor financing to a customer in Azerbaijan and the first time Cat® underground equipment has been deployed in Azerbaijan.

Reza Vaziri, Chief Executive Officer of Anglo Asian Mining, commented:

"This is an important achievement for AIMC, which further enhances our relationship with Caterpillar following the milestone delivery of their equipment last year. This transaction is a first for Caterpillar within Azerbaijan, and we are proud that this is also its first agreement of this type in Azerbaijan. Congratulations to both AIMC's team and Caterpillar for their hard work on this achievement. The facility cements our relationship with Caterpillar and we look forward to a long and mutually beneficial future partnership."

Principal terms of the vendor financing facility agreement

• Amount of the financing: $3,708,000
• Guarantor: Anglo Asian Mining PLC
• Interest rate: CME Term SOFR rate plus a margin of 2 per cent.
• Repayment of interest: quarterly
• Repayment of capital: 12 equal quarterly installments
• Security: The equipment purchased under the agreement
• Net debt to EBITDA and net worth covenants
• Prepayment: allowed subject to a fee

Material conditions precedent which require completion prior to drawdown

• Registration of the pledge agreement
• Confirmation that the fleet is insured in accordance with the Facility
• Revised service agreement for the equipment in accordance with the Facility

A further announcement will be made when the loan is drawndown.

Note that all references to "$" are to United States dollars.