Extension of Port Handling Agreement

Atalaya Mining Plc (AIM: ATYM) is pleased to announce that it has entered into an extension to the services agreement with Impala Terminals Huelva S.L.U. ("Impala Terminals") for the handling, storage and shipment of copper concentrates produced from Proyecto Riotinto ("2023 Port Handling Extension Agreement"). The existing agreement expires today.

The 2023 Port Handling Extension Agreement is for a term of approximately five years and covers the concentrate volumes produced for export from Proyecto Riotinto that are not already committed to the Trafigura Group ("Trafigura") under its offtake agreement. In aggregate, the total fees payable to Impala Terminals from the 2023 Port Handling Extension Agreement, both directly and indirectly via deductions included in sales invoices, are expected to amount to approximately €12 million over the life of the agreement.

Impala Terminals is a related party to Trafigura, which is currently a substantial shareholder in Atalaya and, therefore, is a related party to the Company. As a result, the 2023 Port Handling Extension Agreement constitutes an AIM Rule 13 Related Party Transaction.

The Company's independent directors (excluding Trafigura's nominee) consider, having consulted with its nominated adviser, that the terms of the 2023 Port Handling Extension Agreement are fair and reasonable insofar as its shareholders are concerned.