NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

19 January 2026

Amigo Holdings PLC

("Amigo" "PLC" or the "Company")

 Corporate update

Amigo stated in its General Meeting Circular, published on 26 November 2025, that it will focus on gold and rare earth mining opportunities in Africa, principally in Tanzania and Mauritania.

In line with this strategy, Amigo is working with AK Corporation ("AK"), a Dubai-based geological exploration technical partner. AK has a focus on East Africa and brings advanced technological and local experience, while Amigo provides focused strategic direction. AK has begun a micro-seismic survey as part of an early-stage assessment of potential gold exploration and development opportunities within the Mara Region of Tanzania - part of the well-known Lake Victoria goldfields district. At this time, Amigo has not identified or agreed any specific investment opportunity nor made any investment.

Amigo is committed to using the latest technology, as the most cost-effective approach, to reduce risk and identify the best potential opportunities. AK is first using satellite-based hyperspectral imaging to identify areas with minerals and rock patterns often linked to gold deposits following which soil and rock samples on the ground in areas pinpointed by the satellite data would be tested for chemical signs of gold. In the most promising spots, deeper investigation using micro-seismic technology, is used to identify tiny natural vibrations in the ground to map hidden cracks, faults, and structures deep underground that could host gold. Specifically, this process aims to:

- Map underground fault zones and structural pathways where gold might be found;

- Understand how deep and continuous these structures are; and

- Focus subsequent exploration activity including trenching and drilling.

An example of satellite hyperspectral imaging is set out below in the following image showing the ability to detect alteration minerals like Fe-oxides, clays, and carbonates, lithological mapping under vegetation cover, and structural interpretation of fault lines.

The AK team is using passive micro-seismic sensors placed precisely using GPS and follows strict quality controls. Every stage from site checks to sensor setup is being photographed to ensure transparency and data reliability. Some of the photographs are published on the Amigo website at:

https://amigoloans.cdn.prismic.io/amigoloans/aW30NgIvOtkhBsrn_AmigoRNS-TanzaniaUpdate-FINALPICTURES.pdf.

Examples of the output given by micro-seismic surveys are shown below.  These map the underground reality before drilling begins. They detect: fractures, voids, and shear networks, and locate blind quartz veins.

Once the initial fieldwork is completed, the micro-seismic survey data will be combined with earlier geological, geochemical, and satellite information. This will create detailed 2D and 3D structural underground models.

This method has worked well on other gold projects in Tanzania in identifying drill-ready targets faster without wasting money on potentially unnecessary drill-holes.

Amigo will keep investors informed as the exploration moves forward.

Contacts:

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). The person responsible for this announcement is Nicholas Beal, Company Secretary.

About Amigo Holdings PLC

Amigo is a public limited company registered in England and Wales with registered number 10024479. The Amigo Shares are listed on the Official List of the London Stock Exchange.