Ntorya Operations Update

Aminex, the oil and gas exploration and development company focused on Tanzania, is pleased to announce the following:

• Regarding the pipeline from the Ntorya gas field to the Madimba gas processing plant (the Pipeline), we understand that:

o the necessary pipe for the Pipeline has been manufactured and is scheduled to arrive in Tanzania in late January 2026 with groundwork and pipelaying to commence thereafter;

o completion and commissioning of the Pipeline is scheduled for Q3 2026.

• The operator (ARA Petroleum Tanzania (APT)), has provided the following update on operational activities within the Ntorya development:

o the contracting process is well advanced for all services required for bringing the Ntorya-2 well (NT-2) into production, in line with the commissioning of the Pipeline, with the award of the principal contract expected in January 2026;

o the procurement process for the contracting of a drilling rig and associated services for the drilling of the Chikumbi-1 well (CH-1) and workover of the Ntorya-1 well (NT-1) continues. All tenders have been received and APT is currently evaluating the tenders;

o all necessary casings, tubulars and wellheads required for the drilling of CH-1 and workover of NT-1 are on site in Ntorya;

o the contract for civil works in and around the Ntorya development has been awarded to a local construction company to carry out the following works:

§ well pad preparation for CH-1 including access road;

§ well pad rehabilitation for NT-1 and NT-2:

§ converting the original Ntorya-3 well site to the Ntorya Gas Field Base; and

§ preparation of the site for all upstream production facilities and ancillary access roads.

The works under this contract are scheduled to commence in January 2026.

• The work programme and budget for 2026, prepared by APT, has been approved by the Tanzanian authorities. The total budget for 2026 is over $50 million and includes all of the activities set out above.

Charles Santos, Executive Chairman of Aminex, commented:

"I'm very pleased to say that the Ntorya gas development is progressing well and on track for first gas next year. Clearly, 2026 will mark the start of an exciting new chapter for Aminex and the beginning of a new era for Tanzania's energy security and energy transition.

I have just spent a few highly productive days in Dar es Salaam, meeting APT as well as government and energy officials to discuss our plans in Tanzania for the next year. Tanzania is on the cusp of a gas revival which will fuel industrial and economic development while helping to improve Tanzanians' living standards. We're very excited to be part of that story and look forward to continuing our close collaboration with the Ministry of Energy, the Tanzania Petroleum Development Corporation (TPDC), the Petroleum Upstream Regulatory Authority (PURA) and of course Ntorya's operator, APT."