NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN THE UNITED STATES, CANADA, JAPAN, SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. PLEASE SEE THE SECTION ENTITLED "IMPORTANT INFORMATION" TOWARDS THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

27 March 2026

Ascent Resources plc

("Ascent" or the "Company")

Special Bonus Award - Related Party Transaction

Ascent Resources Plc (LON: AST), the onshore US focused oil and gas company, announces that, following the announcement of 24 March 2026 regarding the execution of the Exclusive Access & Use Licence Agreement (the "Licence Agreement") with Utah Brine Corporation, the Board has approved a one-off success-based bonus, as part of their remuneration arrangements,  to certain directors and one member of the senior management team.

The bonus comprises the allocation of a total of 784,000 options over Neometals Limited (NMT.AX) being 196,000 Neometals Ltd share options to each of recipients, including the following directors:

·    Jean-Michel Doublet (Non-Executive Chairman)

·    David Bullion (Non-Executive Director)

·    Dave Patterson (Chief Executive Officer and Director)

This represents 4% each of the 4,900,000 Neometals Ltd share options granted to the Company under the Licence Agreement. The bonus is non-cash, funded entirely from the Neometals share option package received by Ascent, and does not result in any additional dilution to Ascent's shareholders.

Related Party Transaction

Each of the directors named above is a related party under AIM Rule 13. The bonus therefore constitutes a related party transaction.

Mr Edouard Etienvre, the only director independent of the transaction, considers that the terms of the bonus are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries