Possible Offer and Restoration of Trading

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO UNDERTAKE ANY TRANSACTION UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY TRANSACTION WILL PROCEED, OR AS TO THE TERMS OF ANY SUCH TRANSACTION.

Anglo Asian Mining plc

Possible Offer and Restoration of Trading

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM-listed gold, copper and silver producer focused in Azerbaijan, provides the following statement in respect to the suspension of trading of its shares on 26 November 2025.

The Company notes the announcement made by ACG Metals Limited (LSE:ACG) ("ACG") on 26 November 2025, that it is in the early stages of considering making an offer for the entire issued and to be issued ordinary share capital of Anglo Asian.

The Company notes that the announcement by ACG does not amount to a firm intention by ACG to make an offer under Rule 2.7 of the Code and there can be no certainty that an offer for Anglo Asian will ultimately be made by ACG. There can be no assurance that a definitive agreement for the possible acquisition will be entered into or as to the terms on which any such offer might be made.

The Company is making excellent progress in executing its clear growth strategy to transition to a mid-tier, multi asset low-cost copper-focused producer. During 2025, Anglo Asian has brought into production two new mines, Gilar and Demirli, on time and on budget, reinforcing the Company's long-term track record in the country. The Board remains wholly focused on continuing to develop Anglo Asian's extensive resource base of over 400,000 ounces of gold and one million tonnes of copper, underpinning the Company's confidence in bringing a further two assets, Xarxar and Garadag into production in a sustainable manner, whilst driving value for all stakeholders.

In accordance with Rule 2.6(a) of the Code, by not later than 5:00 pm on 24 December 2025, ACG must either announce a firm intention to make an offer for Anglo Asian in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Anglo Asian, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

A further announcement will be made if and when appropriate. Shareholders are urged to take no action at this time.

As a consequence of ACG's announcement yesterday, an "Offer Period" commenced in respect of the Company in accordance with the rules of the Code. The attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.

Restoration of Trading

Following various speculative comments on investor bulletin boards and subsequent share price movements, the Company requested that trading in the Company's ordinary shares be suspended from trading on AIM, whilst appropriate enquiries were made to enable an AIM Rule 10 compliant announcement to be made. Following this announcement, trading in the ordinary shares of the Company is expected to be restored at 07.30 GMT on 27 November 2025.

Rule 2.9 Disclosure

Publication on websites

A copy of this announcement will be made available subject to certain restrictions relating to persons resident in restricted jurisdictions on Anglo Asian's website at https://www.angloasianmining.com/ by no later than 12 noon (London time) on 27 November 2025. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.