Statement re Possible Offer

Reabold Resources plc, the investing company focused on developing strategic gas projects for European energy security, notes the announcement made by Union Jack earlier today and confirms that it is in discussions with the board of Union Jack regarding an all-share offer by Reabold for the entire issued and to be issued share capital of Union Jack (the "Possible Offer"). Reabold believes that the combination of the two complementary companies would create a group with greater scale, superior access to capital and other compelling operating efficiencies.

A further announcement will be made if and when appropriate. Shareholders are advised to take no action at this stage. There can be no certainty that any firm offer will be made, nor as to the terms of any offer, should one be made.

In accordance with Rule 2.6(a) of the Code, Reabold is required, by no later than 5.00 p.m. on 13 July 2026, either to announce a firm intention to make an offer for Union Jack in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel on Takeovers and Mergers (the "Panel") in accordance with Rule 2.6(c) of the Code.

In accordance with Rule 2.4(c)(iii) of the Code, Reabold confirms that it is not aware of any dealings in Union Jack shares that would require a minimum level, or particular form, of consideration that it would be obliged to offer under Rule 6 or Rule 11 of the Code (as appropriate). However, it has not been practicable for Reabold to make enquiries of all persons presumed to be acting in concert with it prior to this announcement in order to confirm whether any details are required to be disclosed under Rule 2.4(c)(iii). To the extent that any such details are identified following such enquiries, Reabold will make an announcement disclosing such details as soon as practicable, and in any event by no later than the time it is required to make its Opening Position Disclosure under Rule 8.1 of the Code.

Rule 2.9 disclosure

Rule 26.1