Sale of Indokal Limited and Special Dividend

Asiamet Resources Limited (AIM: ARS) is pleased to announce that it has completed the sale of its wholly owned subsidiary, Indokal Limited ("Indokal"), which owns a 100% interest in the KSK Project, to Norin Mining (Hong Kong) Limited ("Norin Mining") (the "Transaction").

Following completion of the Transaction, the Board has approved a special cash dividend of US$93.0 million (the "Special Dividend"), in line with the Company's previously stated intention to substantially utilise the net proceeds from the Transaction to effect a cash distribution to shareholders.

Highlights

• The sale of Indokal to Norin Mining has completed and the Company has received US$104.9 million in cash consideration.
• The Board has approved a US$93.0 million Special Dividend, equivalent to approximately US$0.0268 per common share in the Company of US$0.01 each ("Common Share").
• The Special Dividend is expected to be paid in pounds sterling on 29 September 2026 to shareholders on the register at close of business on 15 September 2026. Asiamet intends to transfer the Special Dividend funds to GBP imminently, and will announce the applicable USD/GBP exchange rate prior to payment.

Completion of the Transaction

As previously announced on 6 November 2025, Asiamet entered into a sale and purchase agreement ("SPA") with Norin Mining for the sale of its 100% interest in Indokal, through which the Company holds its interest in the KSK Project, for US$105 million on a cash-free, debt-free basis.

Following the Company's announcement on 7 September 2026 confirming that all conditions precedent to completion had been satisfied or waived, the Transaction has now completed.

The Company received US$104.9 million in cash consideration at completion, adjusted for debt and subject to a post-completion adjustment mechanism as determined in accordance with the SPA.

Special Dividend

On 6 November 2025, the Board stated that it expected the net proceeds from the sale to be substantially utilised to effect a cash distribution to shareholders following completion.

Having reviewed the Company's transaction costs and ongoing funding requirements, the Board has approved a Special Dividend with an aggregate value of US$93.0 million, equivalent to approximately US$0.0268 per Common Share on Admission.

The Special Dividend will be paid in pounds sterling. The sterling amount payable per Common Share will be determined by reference to the applicable USD/GBP exchange rate and announced prior to payment.

The timetable for the Special Dividend is as follows:

Shareholders who are required to provide or update their bank details should ensure these are submitted by 18 September 2026 in accordance with the instructions set out in the shareholder communication previously sent by the Company's registrar.

Beutong Project

Following completion of the Transaction, the Company's principal remaining asset is the Beutong Project in Aceh, Indonesia. The Board is evaluating all available options for Beutong and will update shareholders further once it has established a path forward with various stakeholder groups including local communities and the relevant local, provincial and central governments authorities.

Tony Manini, Chairman of Asiamet, commented:

"Completion of the KSK Transaction represents a significant milestone for Asiamet and its shareholders and is the culmination of many years of work to advance the KSK Project.

We are pleased to have completed the Transaction with Norin Mining and, to be returning a substantial proportion of the proceeds to shareholders through the Special Dividend.

I would like to thank our shareholders for their continued support and our employees, advisers, partners and stakeholders for their contribution to this outcome."

Advisers and Counsel

Grant Samuel acted as lead financial adviser and A&O Shearman acted as legal adviser to Asiamet on the Transaction.

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Chairman