Results of placing in Serabi Gold plc

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

Results of Placing of ordinary shares in Serabi Gold plc

Further to the announcement released on 22 April 2025 by Greenstone Resources II LP ("Greenstone") and Fratelli Investments Limited ("Fratelli") (the "Sellers"), the Sellers announce that pursuant to the Placing, the Sellers have sold in aggregate 15,689,395 ordinary shares in the capital of Serabi Gold plc ("Serabi"), by way of an accelerated bookbuild to institutional investors at a price of 135 pence per ordinary share, raising gross proceeds of approximately £21.2 million. The Placing Shares represent 20.7 per cent. of Serabi's issued share capital.

Following the completion of the Placing, Fratelli will hold 7,565,882 ordinary shares in the capital of Serabi, representing approximately 9.99 per cent. of Serabi's issued share capital. These shares are subject to a 60 day lock up undertaking (subject to certain customary exceptions).

Following completion of the proposed sale of shares in the Company by Greenstone to Starboard Asset Ltda as announced on 14 April 2025 and completion of the sale of Placing Shares by Greenstone in the Placing, it will no longer hold any shares in the Company.

Peel Hunt LLP ("Peel Hunt") and Tamesis Partners LLP ("Tamesis") acted as Joint Bookrunners in connection with the Placing.

Serabi is not a party to the Placing and will not receive any proceeds from the Placing.