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Q4 2025 Rwanda Trading Update

In brief · summary, not quotable

Rwanda trading operations generated US$145,000 gross profit in Q4 2025; volumes below target but expected to recover in Q1 2026.

  • Q4 2025 gross profit from Rwanda trading US$145,000
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Aterian plc, the critical mineral exploration and development company focused on Africa, is pleased to announce that its Rwandan mineral trading operations continue to grow and generated an unaudited gross profit of approximately US$145,000 during the fourth quarter ended 31 December 2025.

This gross performance reflects continued regular progress in the Company's strategy to complement its exploration portfolio with near-term, cash-generative trading activities, focused exclusively on responsibly sourced and fully traceable mineral supply chains. Trading volumes during the period were unfortunately below management's target levels as the emphasis remained on maintaining high traceability compliance and general margin discipline but are anticipated to recover in Q1 2026.

Aterian Executive Chairman Charles Bray commented:

"Importantly, the trading business has demonstrated its potential to generate meaningful gross margins. We believe that the performance achieved in Q4 2025 demonstrates the viability of the Company's trading model and provides a foundation for the measured scaling of volumes during 2026, subject to working capital availability and market conditions.

Critically, Aterian has continued to make deliberate progress in establishing a fully traceability-compliant mineral trading business, aligned with OECD and RMI guidance and designed to meet the increasingly stringent requirements of international buyers, financiers, and regulators. This capability is strategically important: it differentiates the Company and positions Aterian as a credible supplier of responsibly sourced materials into international markets."

The Company will provide further updates on its trading operations and strategic developments as appropriate.

Aterian Plc:

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

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

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Colin Rowbury

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Financial PR:

Bald Voodoo - ben@baldvoodoo.com

Ben Kilbey

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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.

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