Fundraising, Directors' Dealing and TVR

Bezant (AIM: BZT), the copper-gold exploration and development company, is pleased to announce an oversubscribed fundraise of £2,070,000 (gross) from directors, existing shareholders, and new investors at 0.065 pence per Ordinary Share ( The "Fundraising Price") to cover the cash element of the acquisition of the additional 20% interest in the Hope and Gorob project from 70% to 90% (as announced on 24 March 2026) and to continue to fast track the development of the Hope and Gorob project and for general working capital requirements.

Fundraising:

The Company has raised £2,070,000 before expenses (the "Fundraising") at the Fundraising Price for the issue of 3,184,615,386 new Ordinary Shares (the "Fundraising Shares") conditional upon admission of the Fundraising Shares to trading on AIM ("Admission"). The Fundraising comprises a placing of 3,076,923,077 new Ordinary Shares (the "Placing Shares") for £2,000,000 at the Fundraising Price (the "Placing"), via Shard Capital Partners LLP and share subscriptions for 107,692,309 new Ordinary Shares at the Fundraising Price (the "Subscription Shares") to raise £70,000 (the "Subscription"). The Subscription includes £20,000 by Colin Bird, Bezant's Executive Chairman for 30,769,231 Subscription Shares and £20,000 by Raju Samtani, Bezant's Finance Director for 30,769,231 Subscription Shares together representing 1.93% per cent. of the total Fundraising amount.

Use of Proceeds: The net proceeds from the Fundraising are planned to be used in relation to;

• paying the cash element of the acquisition of an additional 20% interest in the Hope and Gorob project to increase Bezant's interest from 70% to 90% (see announcement dated 24 March 2026);
• to continue to fast track the Hope and Gorob project development for the anticipated delivery of first copper gold concentrates during the second half of 2026 (see announcement dated 30 March 2026) including mine development and plant improvements at the NLZM Processing Plant to improve productivity and throughput pending completion of the US$7m financing facility;
• and also on corporate overheads and to provide working capital for the Group.

Consultant Shares:

In accordance with the authority granted at its Annual General Meeting on 27 July 2025, the Company was authorized to settle accrued fees at the fundraising price if done within 30 days of a fundraise and accordingly the Board have agreed to settle £7,166 of fees due to a consultant which will be settled by the issue of 11,024,015 new Ordinary Shares at the Fundraising Price (the "Consultant Shares").

Pursuant to the Fundraising, in aggregate, 3,184,615,386 Fundraising Shares will be issued at the Fundraising Price to certain Directors, existing shareholders and new investors conditional upon Admission. The Fundraising Price represents a discount of 23.5 per cent. to the closing middle market price of an Ordinary Share of 0.085 pence on 30 March 2026, being the latest practicable date prior to this announcement. Each participant in the Fundraising will also receive one (1) warrant exercisable at 0.165 pence per ordinary share for three years from Admission for each Fundraising Share issued. The Company is also issuing a warrant to Shard Capital Partners LLP to subscribe for a total of 184,615,385 new Ordinary Shares exercisable at the Fundraising Price for a period of three years from Admission ("Broker Warrants").

The Fundraising Shares represent, in aggregate, approximately 14.6 per cent of the Company's enlarged issued share capital as enlarged by the issue of the Fundraising Shares and the Consultant Shares. The Fundraising Shares and the Consultant Shares will be fully paid and rank pari passu in all respects with the Company's existing Ordinary Shares.

Director's update shareholdings:

The table below shows the current shareholdings of Directors and their associates and their shareholdings after the issue of the Fundraising Shares and the Consultant Shares

Application to trading on AIM:

The Fundraising is conditional on Admission. Application will be made to the London Stock Exchange for the 3,184,615,386 Fundraising Shares, and 11,024,015 Consultant Shares (the "New Shares") to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the New Shares will commence at 8.00 a.m. on 8 April 2026.

Total Voting Rights after Fundraising: Following the issue of the New Shares the Company's total issued share capital will consist of 21,863,057,172 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares.

On Admission, the abovementioned figure of 21,863,057,172 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Bezant under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.