29 September 2025

Anglo Asian Mining plc

Historic Distributions to Shareholders, Publication of Circular and Notice of General Meeting

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan announces, further to the announcement of 26 November 2024, an update on its administrative non-compliance issues with respect to distributable reserves, the payment of certain historical dividends between 2018 and 2022, and share buy-backs executed by the Company in 2022 (the "Relevant Distributions").

At all relevant times the Anglo Asian group had adequate reserves in subsidiary companies to allow the payment of the Relevant Distributions, however these amounts were not distributed up to Anglo Asian Mining plc, the parent company of the group, in advance of the declaration and payment of the Relevant Distributions. Unfortunately, this administrative oversight resulted in the Relevant Distributions being paid otherwise than in accordance with the Companies Act. These issues only affected the Relevant Distributions and did not affect any other dividends declared and paid by the Company. The total aggregate amount of the Relevant Distributions was US$46,716,666.44.

The issue is of a historical nature and there is no change to the financial outlook of the Company as a result of this technical matter. It also has no impact on the Company's dividend policy going forward. No fines or other penalties have been incurred by the Company.

The Company has today published and will post to shareholders an explanatory circular (the "Circular") convening a general meeting for 2:30pm, 22 October 2025 (the "General Meeting"), at which a special resolution ("Resolution") will be proposed which will, if passed, put all potentially affected parties in the position which they were intended to be in had the Relevant Distributions been declared and paid in accordance with the full requirements of the Companies Act. Further details of the Relevant Distributions are contained in the Circular.

The steps being proposed will involve the Company entering into deed of release in respect of the Directors of the Company at the time the Relevant Distributions were declared and paid (the "Directors' Deed of Release") and in respect of the past and present shareholders who appeared on the register of members on the record date for any of the Relevant Distributions (the "Shareholders' Deed of Release"). The consequence of the entry into of the Directors' Deed of Release and the Shareholders' Deed of Release by the Company, is that the Company will be unable to make any claims against past or present shareholders of the Company who were recipients of the Relevant Dividends ("Recipient Shareholders") and/or any of the Directors.

The Company also proposes to enter into a buy-back deed with SP Angel Corporate Finance LLP (the "Buy-back Deed"). The purpose of the entry into of the Buy-back Deed is, inter alia, to effect the lawful transfer of the Ordinary Shares subject to the Relevant Share Buy-backs in accordance with the Act, from SP Angel to the Company.

Related party transaction

Pursuant to the AIM Rules, John Monhemius, Governor John Sununu, Michael Sununu, Reza Vaziri and Khosrow Zamani are each a related party of Anglo Asian. The entry by the Company into the Directors' Deed of Release and consequential waiver of any rights of the Company to make claims against its directors of the Company (whether present or past) in respect of the Relevant Distributions constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The Company's nominated adviser, SP Angel Corporate Finance LLP, considers the terms of the Directors' Deed of Release (excluding any parts of the Resolution that relate to the Relevant Share Buy-backs because SP Angel is a party to the Buy-back Deed) to be fair and reasonable insofar as Anglo Asian's shareholders are concerned.

The Circular contains further details regarding the consequences of the Relevant Distributions and the reasons why the Board of Anglo Asian is proposing the Resolution. The Circular also contains a notice convening a general meeting of the Company to be held at 78 Pall Mall, London, England, SW1Y 5ES at 2:30 p.m. on 22 October 2025.

Terms used in this announcement shall have the meaning given to them in the Circular.

The Circular will be available to view on the Company's website at https://www.angloasianmining.com/

For further information please contact:

Notes to editors

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 16,760 gold equivalent ounces ("GEOs") for the year ended 31 December 2024. In the six months to 30 June 2025, the Company produced 16,378 GEOs.

The Company's strategic plan for growth shows a clearly defined path for the Company to transition to a multi-asset, mid-tier, copper and gold producer by 2030, by which time copper will be the principal product of the Company, with forecast annual production of around 50,000 to 55,000 tonnes of copper. It plans to achieve this growth by bringing into production three new mines during the period 2027 to 2030 at Xarxar, Garadag and Zafar, in addition to the newly opened Gilar and Demirli mines. Production commenced at the Gilar mine in May 2025 and Demirli in July 2025. https://www.angloasianmining.com/