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11 December 2025

Response to ACG Metals Limited no intention to bid statement

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM-listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce and notes the announcement made by ACG Metals Limited ("ACG") earlier today that it does not intend to make an offer for Anglo Asian. As a result of the announcement, ACG is bound by the restrictions contained in Rule 2.8 of the City Code on Takeovers and Mergers.

Anglo Asian remains committed to creating value for its shareholders through continued production and development of its assets. This includes the two new mines it has brought online over the past 12 months, in addition to its historically profitable assets.  

Over the past year, as we have followed through on our strategic plans and continue to move towards developing Xarxar, Garadagh and grow into a mid-tier copper producer, the markets have started to recognize the ability of our management team and board to continuously develop new opportunities from our extensive license portfolio. The board and management  team look forward with confidence to our strategy, which has been successful for our shareholders. We are confident that Anglo Asian will drive substantial value with our clear and achievable strategic plans to organically grow the business.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

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About Anglo Asian Mining

Anglo Asian Mining plc (AIM:AAZ) is a copper and gold producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 378 tonnes of copper and 15,071 ounces of gold for the year ended 31 December 2024. In the nine months to 30 September 2025, the Company produced 3,475 tonnes of copper and 18,912 ounces of gold.

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/