Guidance for 2025

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer primarily focused on Azerbaijan, is pleased to announce its guidance for 2025 ("FY 2025").

Guidance for FY 20251

2025 is a pivotal year for Anglo Asian as it begins to increase copper production with the opening of its new Gilar mine, and the Company expects that copper production in 2025 will be its highest ever. This guidance includes a full year of production, compared with production in the previous two years, which was restricted due to a partial shutdown. Details about the production plan for FY 2025 are given in the appendix below.

The Company continues to evaluate its Demirli mining property and expects to restart production from the plant before the end of the year. The guidance provided excludes any production, turnover or costs in respect of Demirli, the amount of which will depend on when production commences. The Company will provide a further update to its FY 2025 production guidance as appropriate later in 2025.

Reza Vaziri, CEO of Anglo Asian, commented:

"I am pleased to provide our 2025 production guidance of 28,000 to 33,000 ounces of gold and 6,500 to 6,800 tonnes of copper. Copper is now becoming an increasing important part of the Group's production. Our production in 2025 will be significantly increased compared to 2024, which was impacted by our partial shutdown. I am also pleased that the guidance for 2025 turnover is the highest annual turnover for the Group.

"2025 will be a milestone year for the Company as we begin to ramp up our proportion of copper within our production portfolio, ahead of bringing the larger Garadag and Xarxar copper assets into production in the coming years."

1 The Group will no longer report headline production guidance in gold equivalent ounces as copper is becoming an increasingly significant part of the Group's production. Significant movements in the ratio of the gold to the copper price in the year can also make reported actual production misleading compared to guidance. However, to aid comparison, the Group's forecast production for FY 2025 calculated as gold equivalent ounces is given in the appendix below. The guidance has been calculated using a gold price of $2,800 per ounce and copper price of $9,000 per tonne.

2 No production or financial amounts are included in respect of the Demirli mining property.

3 The actual figures for 2024 will be reported in May 2025 with along with the final results for the year ended 31 December 2024

Note the Company does not forecast silver production as it is not material.

The gold equivalent ounces have been computed using the following budget rates:

Production plan for 2025

The Company's production profile will change significantly in 2025 compared to previous years due to commencing mining at Gilar, which will increase copper as a proportion of total production:

• Production is expected to commence in Q1 2025 from the new Gilar underground mine. Around 400,000 tonnes of ore is expected to be extracted from Gilar in 2025 grading 1.8 per cent. copper and 1.47 grammes per tonne of gold;
• Ore from the Gilar mine will initially be treated by agitation leaching to remove the gold and produce gold doré. The Gilar tailings from agitation leaching will then be treated by flotation to produce a copper concentrate;
• Ore from the existing open pit and Gadir underground mine will also supplement feedstock for the flotation plant and the agitation leaching plant to ensure they are fully utilised in 2025; and
• Approximately 425,000 to 475,000 tonnes of ore grading around 0.55 grammes per tonne of gold will be heap leached. All heap leached ore is forecast to be crushed which is now more financially beneficial than heap leaching ROM ore at the current gold price.

DEFINITION OF FINANCIAL METRICS

Turnover

Turnover is sale proceeds of the Group's share of production. The Group's share of production is assumed to be 87.25 per cent. for 2025.

EBITDA

EBITDA is defined as earnings before Interest, tax, depreciation and amortisation.