15 December 2025

Aterian Plc

("Aterian" or the "Company" or the "Group")

New Prospecting Licence in Botswana

Aterian plc (LSE: ATN), the critical mineral exploration and development company focused on Africa, is pleased to announce that it has been granted a new Prospecting Licence ("PL") within the highly prospective Kalahari Copper Belt ("KCB") in the Republic of Botswana ("Botswana"). The newly awarded licence is strategically located adjacent to exploration  licences held by Sandfire Resources ("Sandfire"), a leading copper producer in the region, strengthens Aterian's rapidly growing copper portfolio and materially enhances the scale and optionality of its Botswana platform.

Key Highlights:

·    New PL, covers 396.24km², valid for three years, renewable thereafter.

·    Adjacent to Sandfire Resources exploration projects.

·    Evidence for several historical copper-in-soil anomalies.

·    Total KCB portfolio currently stands at 11 PLs covering 2,694.58 km².

·    The KCB portfolio, including the new PL, will be reviewed under the new Lithosquare JV.

·    Total Botswana landholding, including the Sua Pan lithium brine project, now stands at 5,211.51km².

The licence, covering approximately 396.24 km², was granted for an initial three-year period, renewable thereafter, and was held by Atlantis Metals (Pty) Ltd ("Atlantis"), a 90%-owned subsidiary of the Company. The PL potentially hosts geological and structural characteristics consistent with copper-silver mineralisation known across the KCB. Several copper-in-soil anomalies (> 18 ppm) are identified in historical MOD Resources reports (Q4/2017 Report). An initial review of available datasets is underway to identify prospective zones that warrant systematic exploration.

This award follows the Company's recently announced Joint Venture with Lithosquare ("Lithosquare JV"), which is designed to accelerate exploration funding and development across Aterian's Botswana and Morocco portfolio. The addition of this new PL provides further scale, increasing the optionality available under the JV structure, supporting the Company's strategy to build a robust pipeline of critical metal opportunities in a tier-one mining jurisdiction.

Aterian Executive Chairman Charles Bray commented:

"This is a highly accretive licence award for Aterian. Securing this ground in the Kalahari Copper Belt significantly enhances the strategic and geological quality of our Botswana portfolio. Coming immediately after the launch of our Lithosquare Joint Venture, this award adds further scale and optionality to a platform designed to accelerate discovery while managing capital efficiently. Given strengthening copper fundamentals, the KCB is emerging as one of the most exciting copper belts globally, and we believe Aterian is exceptionally well positioned to create substantial value from its growing KCB portfolio."

Next Steps

·    Integration of the new PL into the Lithosquare JV regional exploration strategy

·    Compilation and interpretation of historical and government datasets

·    Planning of initial field activities, including geochemical and geophysical surveys

·    Prioritisation of targets for future drilling programmes

Further updates will be provided to the market as the agreement progresses.

- ENDS -

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

Engage directly with the Aterian PLC management team by asking questions, watching video summaries, and seeing what other shareholders have to say. Please navigate to our interactive investor
hub here: https://aterianplc.com/s/fcf8eb

For further information, please contact:

Aterian Plc:

Charles Bray, Executive Chairman - [email protected]

Simon Rollason, Director - [email protected]

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Colin Rowbury

Tel: +44 (0)207 7469 0930

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl 

Tel: +44 20 3470 0470

Financial PR:

Bald Voodoo - [email protected]

Ben Kilbey
Tel: +44 (0)7811 209 344

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Notes to Editors:

About Aterian plc

www.aterianplc.com

Aterian plc is an LSE-listed exploration and development company with a diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal resources to strengthen its existing asset base while supporting ethical and sustainable supply chains as the world transitions to a sustainable, renewable future. The supply of these metals is vital for developing the renewable energy, automotive, and electronic manufacturing sectors, which are increasingly important in reducing carbon emissions and meeting global climate ambitions.

Aterian has a portfolio of multiple copper-silver (+ gold) and base metal projects in Morocco. Aterian holds a 90% interest in Atlantis Metals, a private Botswana-registered company holding eleven mineral prospecting licences for copper-silver in the world-renowned Kalahari Copperbelt and three for lithium brine exploration in the Makgadikgadi Pans region. The Company also holds an exploration licence in southern Rwanda, where it is evaluating the tantalum and niobium opportunity, in addition to further exploring for pegmatite-hosted lithium.

The Company's strategy is to seek new exploration and production opportunities across the African continent and to develop new sources of critical mineral assets for exploration, development, and trading.