Issuance of Shares & Total Voting Rights

Andrada has today issued 31 981 474 ordinary shares in the Company at a price of 2.9293 pence ("p") per ordinary share to convertible loan holders in lieu of interest cash payments (the "Convertible Loan Note Shares").

In July 2023, the Company issued 77 unsecured convertible loan notes ("Loan Notes") of £100 000 each for a total value of £7.7 million (see announcement dated 18 July 2023). The proceeds from the Loan Notes were utilised to complete the lithium pilot plant and tantalum circuit. The Loan Notes have a three-year term to 20 July 2026 and an interest rate of 12% per annum. The interest must be paid after the relevant anniversary issue date (being, in each year, 21 July). The interest is payable either in cash or by the issue of ordinary shares at a price equivalent to the 30-day VWAP prior to the anniversary date of 21 July 2025. The total interest payable is £936 833.

Admission of shares on AIM

Application has been made to the London Stock Exchange for admission of the Convertible Loan Note Shares (being a total of 31 981 474 Ordinary Shares) to trading on AIM. It is expected that admission will become effective and dealings in all the shares will commence on AIM at 8.00 a.m. on 20 August 2025. The Convertible Loan Note Shares have been issued fully paid and rank pari passu in all respects with the Company's existing Ordinary Shares.

Total voting rights