Oversubscribed Retail Offer & Total Voting Rights

Vast, the AIM quoted mining company, is pleased to confirm, further to the announcement made on 3 August 2026, the result of the Retail Offer via BookBuild at the Issue Price of 6.25p per New Ordinary Share.

The Company announces that it has conditionally raised aggregate gross proceeds of £300,000 pursuant to the Retail Offer. Accordingly, the Company will issue a total of 4,800,000 New Ordinary Shares at the Issue Price pursuant to the Retail Offer. The Retail Offer was oversubscribed, with allocations made in line with soft pre-emption principles. Where demand exceeded their soft pre-emptive entitlement, Shareholders were allocated on a pro-rata basis.

Admission of the Retail Offer Shares is subject to approval of, inter alia, the Proposed Transaction which will be voted upon at the Company's General Meeting ("Shareholder Approval").

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.

In addition, as described in paragraph 13 of Part I of the Admission Document, the Share Consolidation requires the total number of Existing Ordinary Shares in issue to be exactly divisible by 25. Accordingly, the Company will issue 16 Existing Ordinary Shares at 0.25 pence per share (the "Additional Existing Shares"). Following the Share Consolidation, the Additional Existing Shares will represent one New Ordinary Share, which will be aggregated with other fractional entitlements and dealt with in accordance with the arrangements set out in paragraph 13 of Part I of the Admission Document.

Admission of Shares

Subject to Shareholder Approval at the Company's General Meeting, application will be made for the Retail Offer Shares to be admitted to trading on AIM on 19 August 2026.

Total Voting Rights on Admission

Following Admission, the total number of New Ordinary Shares in issue in the Company will be 1,645,941,556 New Ordinary Shares of £0.025 each. This figure may be used by shareholders 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, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The New Ordinary Shares, when issued, will be fully paid and will rank pari passu in all respects with each other and with the New Ordinary Shares to be issued pursuant to the Placing, the Subscription and the Company's Existing Ordinary Shares, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue. The New Ordinary Shares

Maximum Controlling Position

On Admission and following completion of the Proposals, being the Acquisition, the Share Consolidation, the Placing, the Subscription, the Retail Offer and the Rule 9 Waiver, the members of the Concert Party will, in aggregate, be interested in 1,320,476,386 New Ordinary Shares, representing approximately 80.23 per cent. of the Enlarged Ordinary Share Capital (on an undiluted basis). The following table sets out the Concert Party's shareholdings in the Enlarged Group immediately following the Share Consolidation and on Admission.

Major Shareholders

Each of the persons set out in the table below will, following Admission, be directly or indirectly interested in 3 per cent. or more in the issued Ordinary Share capital of the Company.

Directors' Interests

The Directors of the Company immediately prior to Admission will hold the following interests in the capital of the Company:

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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