Warrant Exchange Offer: Threshold Met

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF), a company combining advanced gold exploration in West Africa with a disciplined Digital Asset Treasury Management strategy, is pleased to announce that the minimum acceptance condition for its voluntary warrant exchange offer announced on 13 July 2026 (the "Warrant Exchange Offer" or the "Offer") has now been satisfied.

The Company has received elections in respect of more than 100,000,000 Eligible Warrants, thereby surpassing the minimum cancellation threshold set out in the Offer. Subject to final verification of elections, admission, registrar/CREST processing and customary settlement mechanics, all Eligible Warrants validly surrendered under the Offer will be cancelled and the corresponding new ordinary shares will be issued in accordance with the previously announced exchange ratio of one new ordinary share for every five Eligible Warrants validly surrendered and cancelled.

Highlights

• Minimum acceptance condition satisfied, with elections now received in respect of more than 100,000,000 Eligible Warrants.
• The threshold elections represent the expected cancellation of at least 100,000,000 0.8p warrants upon completion of the Offer, subject to final validation and settlement.
• At the exchange ratio of one new ordinary share for every five Eligible Warrants, the threshold elections alone represent at least 20,000,000 new ordinary shares, subject to final verification and admission.
• The Offer remains open until the close of business on Friday 24th June for the balance of the previously announced election window, giving all eligible holders who have not yet elected the opportunity to participate.
• The Board believes the early support for the Offer demonstrates clear shareholder alignment around the objective of simplifying Hamak's capital structure and reducing the perceived warrant overhang.

Offer update

Mike Murphy, Chief Strategy Officer and Executive Director of Hamak, commented:

"Surpassing the 100 million warrant cancellation threshold is an important and very positive milestone for Hamak.

"We launched this Offer because we listened carefully to shareholders and recognised that the 0.8p warrant overhang was creating unnecessary uncertainty around the Company.

"The early response shows that warrant holders understand the benefits of a cleaner and more transparent capital structure. Once completed, the Offer will allow us to cancel a significant block of warrants and convert that potential overhang into a much smaller, clearly defined share issue.

"This is exactly the kind of practical, shareholder-focused action the Board wants to take: preserving cash, reducing uncertainty and helping investors focus on the core value drivers for Hamak, including the Akoko Gold project, our wider West African gold portfolio and our disciplined Bitcoin treasury strategy."

Next steps

The Offer remains open for the previously announced election period. Following closure of the Offer, the Company will validate final elections and announce the final number of Eligible Warrants to be cancelled, the number of new ordinary shares to be issued and the residual warrant position.

Application will be made, as appropriate, for any new ordinary shares issued pursuant to the Offer to be admitted to trading on the London Stock Exchange. The new ordinary shares, when issued, will rank pari passu with the Company's existing ordinary shares.