Retail Offer for Existing Vast Shareholders

Vast, the AIM quoted mining company, is pleased to announce a retail offer via BookBuild (the "Retail Offer") of 4,800,000 New Ordinary Shares (the "Retail Offer Shares") at the Issue Price of 6.25p per New Ordinary Share (Shareholders should note that the Issue Price of 6.25p per New Ordinary Share, following the Share Consolidation, is equivalent to 0.25p per Existing Ordinary Share following the Share Consolidation).

The Directors value the Company's retail investor base and believe it is appropriate to provide private and other investors with an opportunity to participate alongside the investors in the Placing and the Subscription on the same terms.

In addition to the Retail Offer, the Company is also conducting a placing of new ordinary shares (the "Placing Shares" and together with the Retail Offer Shares, the "New Ordinary Shares") at the Issue Price (the "Placing" and together with the Retail Offer, the "Issue"). A separate announcement has been made regarding the Placing and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing.

The Retail Offer is conditional on the New Ordinary Shares, to be issued pursuant to the Retail Offer, being admitted to trading on the AIM market operated by the London Stock Exchange ("Admission"). Admission of the New Ordinary Shares pursuant to the Retail Offer is expected to take place on 19 August 2026. Completion of the Retail Offer is conditional, inter alia, upon the completion of the Placing and shareholder approval at the General Meeting on 18 August 2026.

Expected Timetable in relation to the Retail Offer

Retail Offer

The Company values its retail shareholder base, which has supported the Company. Given the support of retail shareholders, the Company believes that it is appropriate to provide its retail shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available in the United Kingdom through the financial intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/J7YG47/authorised-intermediaries

Shore Capital Stockbrokers Ltd will be acting as retail offer coordinator in relation to this Retail Offer (the "Retail Offer Coordinator").

The Retail Offer will be open to eligible investors in the United Kingdom at 8:00am on 3 August 2026. The Retail Offer is expected to close at 5:00pm on 5 August 2026. Investors should note that financial intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.

The Retail Offer the subject of this announcement is and will, at all times, only be made to, directed at and may only be acted upon by those persons who are, shareholders in the Company. To be eligible to participate in the Retail Offer, applicants must meet the following criteria before they can submit an order for Retail Offer Shares: (i) be a customer of one of the participating intermediaries listed on the above website; (ii) be resident in the United Kingdom and (iii) be a shareholder in the Company (which may include individuals aged 18 years or over, companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations and includes persons who hold their shares in the Company directly or indirectly through a participating intermediary).

The Retail Offer is not being made into any jurisdiction other than the United Kingdom.

There is a minimum subscription of £100.00 per investor under the terms of the Retail Offer which is open to investors in the United Kingdom subscribing via the intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/J7YG47/authorised-intermediaries

For further information, please visit the Company's website at www.vastplc.com or contact:

The Company's LEI is 213800QXLO766CMGCQ60.

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