Off-take Agreement and Trade Finance Facility

Off-take Agreement

and Trade Finance Facility

Aterian plc (LSE: ATN), the critical metal-focused exploration and development company, is pleased to announce the successful completion of a metal concentrate Off-take Agreement ("Agreement") by its Rwandan subsidiary, Eastinco Limited ("Eastinco") with a major international trading house. This key strategic partnership allows for the sale and distribution of Eastinco's tantalum-niobium and tin concentrate secured from Rwandan-based artisanal and small scale mining ("ASM") companies and cooperatives, significantly enhancing the company's ability to generate revenue from aggregating and upgrading ASM concentrate supplies.

In conjunction with this Agreement, Aterian has agreed terms for a US$ 1.0 million secured trade finance debt facility ("Facility") from a financial investor. This Facility is a 5-month revolving debt facility with 14.4% annual interest rate, subject to the completion of due diligence and legal documentation. The Facility will provide the Company with the necessary working capital requirements for trading operations, ensuring seamless execution and operational efficiency. Confidentiality has been agreed amongst the parties to protect our mutual commercial interests.

Highlights:

• The off-take agreement negotiated with a major international commodity trading house.
• Secured a committed buyer for mineral concentrate products with no price risk and a minimum guaranteed fee based on volume deliveries.
• Eastinco's management has spent the past year working to develop key relationships with various miners across Rwanda, seeking to improve and enhance their productivity and thereby securing the supply of metal concentrates.
• Eastinco has secured the ability to sell the metal concentrate in Kigali, thereby significantly removing or reducing the typical transport, logistics, and funding costs and risks associated with international deliveries.
• Coltan concentrate will be aggregated and upgraded at Eastinco's existing facility in Kigali to meet the required delivery specifications and provide a stable revenue stream for the company.

Trade Finance Facility

The Facility provides the necessary funding to support the trading operations. This Facility will cover all working capital requirements, ensuring that Aterian can meet its delivery obligations under the off-take agreement without financial strain. The Facility has a funding rate of 14.4% per annum and is repayable from trade receivables every five months. The investor has the option to convert the Facility into Aterian equity at a fixed price of £1.00 per share and will receive warrants representing 30% of drawdown amounts; the warrants convert into equity at a fixed price of £1.00 per share and have a term of three years.

Charles Bray, Chair of Aterian plc, commented:

"We are delighted to announce these significant milestones for Aterian. The off-take agreement not only validates the quality of our relationships in Rwanda but also ensures a reliable sales channel with zero price risk. Coupled with the secured trade finance facility which offers the investor a fixed price conversion feature at a significant premium of £1.00 per share, we are well-positioned to scale our operations and drive revenue growth along with the margins from trading. This "fourth leg" of our strategy has been long in the making, but we have been determined to do it in a manner which takes minimal risk while delivering revenue in a fully traceability-compliant model. Ultimately, we aspire to have trading generate the revenue to support our advancing exploration efforts in Rwanda, Morocco, and Botswana. We believe these strategic partnerships in trading will supplement and contribute to our strategic exploration partnerships and the long-term success and sustainability of Aterian."

For further information, please visit the Company's website: www.aterianplc.com or contact:

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com

Simon Rollason, Director - simon.rollason@aterianplc.com

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman / George Duxberry

Colin Rowbury

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Kasia Brzozowska

Financial PR:

Bold Voodoo - ben@baldvoodoo.com

Ben Kilbey