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THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS PART OF THE UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED

19 October 2023

ACG Acquisition Company Limited ("ACG" or the "Company")

Additional Irrevocable Undertakings to Vote
in Favour of the Extension of the Acquisition Deadline

Resignation of Chief Financial Officer and
Appointment of Acting Chief Financial Officer

As announced on 17 October 2023, the Company has convened a meeting of its Shareholders (the "Extension EGM") to be held on 25 October 2023 for the purpose of considering and, if thought fit, voting to approve the proposed Extension by way of an amendment to the Memorandum and Articles of the Company, all as described in the Shareholders Circular and Notice of Extraordinary General Meeting of Shareholders published by the Company on the same day (the "Extension EGM Circular").

Additional Irrevocable Undertakings to Vote in Favour of the Extension

Since the publication of the Extension EGM Circular, the Company has received additional irrevocable undertakings to vote in favor of the Extension. As a result, the Company holds as at the time of this announcement irrevocable undertakings from existing Shareholders (including the Co-Sponsors) to vote their Shares in favour of the Extension representing 29.5% of the total outstanding Shares entitled to vote at the Extension EGM.

Resignation of the Chief Financial Officer and Appointment of Acting Chief Financial Officer

After the publication of the Extension EGM Circular, and reflecting on the time commitment associated with the Extension, Ms. Carole Whittall has decided to tender her resignation from her position of Chief Financial Officer to the Company, effective 20 October 2023, to pursue other opportunities. Ms. Whittall is not a member of the Board, which remains unchanged.

Nick Box, the Company's Financial Controller, will act as Acting Chief Financial Officer until further notice.

Further announcements will be made in due course. All capitalized terms used but not defined in this announcement have the meaning given to them in the Extension EGM Circular.

About the Company

ACG Acquisition Company Limited is a SPAC looking to benefit from favourable price conditions for new economy metals and other mining materials.

The Company aims to optimise its expertise in global mining by combining with a mining company that produces materials characterised by supply constraints and rising long-term demand. The combined entity will capitalise on the need for resource security and geographic supply diversification, as well as the global energy transition.

ACG's team has extensive M&A experience built through decades spent at blue-chip multinationals in the sector. The team brings a significant network, including access to many mining companies as well as a commitment to ESG principles and strong corporate governance.

For more information about ACG, please visit: www.acgcorp.co

Forward-looking statements

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions and that actual events or results may and often do differ materially. The Company does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Any forward-looking statements reflect the Company's current view with respect to future events and many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, ACG's ability to obtain adequate information to evaluate the target assets, ACG's ability to successfully or timely complete the contemplated acquisition, ACG's and Appian Capital's expectations around the performance of the target assets, ACG's potential ability to obtain additional financing to complete the contemplated acquisition and the financial performance of the enlarged group that would result from the potential completion of the contemplated acquisition. Forward-looking statements speak only as of the date they are made.

Inside information

This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014), as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

Important notices

This announcement or any part of it does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase, subscribe for, any securities.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities of the Company have not or will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.