Market Update On Acquisition Funding

On 7 August 2024, ACG also announced the publication of a circular (the "Circular") and a notice of extraordinary general meeting of its shareholders ("EGM Notice") convening a meeting of the shareholders of ACG (the "Acquisition EGM") for the purpose of considering and voting on the adoption of certain resolutions, including, but not limited to, the approval of the Acquisition.

On 19 August 2024, ACG announced, among other market updates, that the Acquisition had been approved by holders of the Company's Class A ordinary shares.

On 23 August 2024, ACG announced updates to the funding structure for the Acquisition and corresponding timeline to completion.

UPDATE on Acquisition FUNDING

ACG announces today that the following changes to the consideration for the Acquisition have been agreed with the Seller:

• the cash consideration has been reduced from US$100 million to US$85 million (subject to a working capital adjustment);
• the number of ACG Sale Shares to be issued to the Seller has increased from 30% to 38% of the Enlarged Ordinary Share Capital on Re-Admission; and
• the Target Working Capital (by reference to which the foregoing working capital adjustment is calculated) has been reduced by US$5 million.

The $85m in upfront purchase price for the Acquisition is funded based on commitments and further indications from investors as follows:

• US$31.5m in total equity commitments from ACG's Co-Sponsors and Traxys;
• US$37.5m in gold prepay debt facility underwritten by Traxys and ACG's Co-Sponsors; and
• A minimum of $16m in equity proceeds from the Placing.

A supplement to the Prospectus providing more detail on the above changes will be published by ACG in due course.

There has been no change to the timeline previously announced.

Further announcements will be made in due course as needed. Unless otherwise defined, capitalised terms used in this announcement have the meaning set forth in the Prospectus.