28 August 2026

African Pioneer Plc

("African Pioneer" or the "Company")

Exercise of Warrants, Total Voting Rights

African Pioneer Plc ("AFP"), the exploration and resource development company with projects in Namibia, Zambia and Botswana, announces that pursuant to the exercise of warrants at a price of 1 p per share in terms of the fundraising announced on 10 February 2025 the Company is issuing 2,100,000 fully paid ordinary shares of no par value in the Company ("Warrant Exercise Shares") which when issued will rank pari passu with the existing ordinary shares in the Company.

Application to trading: Application will be made to for the 2,100,000 Warrant Exercise Shares to be admitted to trading on the main market the London Stock Exchange. It is expected that Admission will become effective and that dealings in the Warrant Exercise Shares will commence at 8.00 a.m. on or around 3 September 2026.

Total Voting Rights: Following the issue of the New Shares the Company's total issued share capital will consist of 528,732,444 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. 

On Admission, the abovementioned figure of 528,732,444 Ordinary Shares may be used by shareholders in the Company 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, African Pioneer under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

or visit  https://africanpioneerplc.com/

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is Financial Adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.