31 March 2026

Aterian plc

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

Lithosquare AI JV Delivers 8 Priority Targets

Aterian plc (LSE: ATN), the African-focused critical minerals exploration and trading company, is pleased to announce that its artificial intelligence ("AI") collaboration with Lithosquare SAS ("Lithosquare") has completed its target selection phase as per the initially agreed schedule, delivering eight priority targets across the Republics of Morocco ("Morocco") and Botswana ("Botswana").

Highlights:

·      AI collaboration delivers results on schedule, with Lithosquare completing the target selection phase following a comprehensive technical review of Aterian's portfolio.

·      Eight high-priority exploration targets identified, comprising three projects in Morocco and five in Botswana.

·      Target selection combined AI-driven geological modelling, detailed interpretation of Aterian's datasets, a site visit to Morocco, and a global review of analogous mineral systems.

·      The review covered Aterian's broader African critical minerals portfolio, leveraging large geological datasets to identify the most prospective opportunities.

·      Next-stage exploration work programmes and budgets are now being prepared, providing a clear pathway to advance these projects.

·      Long-form Joint Venture ("JV") agreement progressing toward completion, formalising the strategic framework for the partnership and reflecting both parties'commitment to an aggressive exploration timeline.

Charles Bray, Executive Chairman of Aterian plc, commented:

"The successful completion of the target selection phase with Lithosquare demonstrates the powerful role that artificial intelligence can play in accelerating mineral discovery. By applying advanced AI-driven geological analysis to our extensive datasets, we are able to rapidly evaluate large portions of our portfolio and focus our exploration efforts on the most prospective opportunities.

The identification of eight high-priority targets across Morocco and Botswana provides Aterian with a clearly defined pipeline of exploration projects with strong geological indicators and compelling analogues to successful mineral systems globally. Importantly, this process enables us to concentrate capital and technical resources on the projects with the greatest potential to deliver maximum value for shareholders.

The collaboration with Lithosquare is already proving highly effective in refining our exploration strategy and significantly improving the efficiency with which we can prioritise targets across our African portfolio. As we move into the next phase of work programmes and advance the long-form JV agreement, we believe this partnership positions Aterian to accelerate exploration progress and unlock the considerable potential within our portfolio.

With global demand for critical minerals continuing to grow rapidly, Aterian's combination of a diversified African asset base and the application of advanced exploration technologies provides a strong platform from which to pursue new discoveries and long-term value creation."

Aymeric Preveral-Etcheverry, CEO of Lithosquare SAS, added:

"We are very proud of moving ahead with Aterian, after having selected and ranked eight targets as per schedule - a first proof point of the accelerating factor of Lithosquare. It also speaks to Aterian's assets: the geological quality was there to be found. Their willingness to bring AI-powered exploration into their workflow early positions them to make the most of every dollar deployed going forward. We are now entering the work program phase together, and we look forward to demonstrating what this approach delivers at full scale."

Strategic Importance

The application of AI-driven geological analysis enables Aterian to rapidly evaluate large and complex datasets across its portfolio and identify high-quality exploration opportunities more efficiently than traditional methods. The collaboration with Lithosquare is intended to enhance exploration targeting, reduce exploration risk and optimise the allocation of exploration capital across the Company's projects.

The review leveraged extensive geological datasets across Aterian's African project portfolio, enabling rapid evaluation of multiple exploration opportunities. This work has enabled Aterian to prioritise the most prospective opportunities within its portfolio and focus future exploration expenditure on projects with the strongest geological indicators of potential mineralisation.

The Company expects to provide further updates as work programmes are finalised and the next phase of exploration activities commences.

Collaboration Update

Lithosquare undertook a comprehensive analysis of Aterian's geological, geochemical and geophysical datasets, applying its AI and machine-learning tools to identify patterns and characteristics associated with prospective mineral systems.

As part of this process, Lithosquare also conducted a site visit to Morocco to review key geological features in the field and validate elements of the Company's datasets. In parallel, the team conducted an extensive review of analogous mineral systems globally, identifying geological components and exploration signatures associated with successful deposits of comparable style. This benchmarking process helped determine which of Aterian's projects display the most compelling similarities to known mineral systems and therefore offer enhanced exploration potential.

Following this integrated review, eight projects have been identified as priority exploration targets, including three projects in Morocco and five in Botswana. These projects are considered to have the most favourable combination of geological indicators and structural characteristics when benchmarked against global analogues.

Aterian and Lithosquare are now preparing detailed work programmes and associated budgets designed to advance the geological understanding of these projects and further refine exploration targets. The next phase of work is expected to include additional technical analysis and field-based activities to advance the most promising opportunities towards potential drill-ready targets.

In parallel, Aterian and Lithosquare are finalising a long-form JV Agreement, which will establish the strategic framework for the continued development of these priority projects and formalise the partnership between the two organisations. This agreement reflects both parties' commitment to advancing the most promising targets through to drill-ready status.

- 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 visit the Company's website: www.aterianplc.com or contact:

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com

Simon Rollason, CEO & Director - simon.rollason@aterianplc.com

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Tel: +44 (0)207 7469 0930

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Devik Mehta 

Tel: +44 20 3470 0470

Financial PR:

Bald Voodoo - ben@baldvoodoo.com

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 and salt 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.

About Lithosquare

Lithosquare SAS is a Paris-based mineral exploration technology company combining geological expertise with advanced artificial intelligence and data science tools to accelerate the discovery of critical mineral deposits. The company is developing a proprietary AI platform that analyses geological, geophysical, and publicly available data to identify and prioritise promising exploration targets, aiming to reduce costs, time, and uncertainty compared to conventional exploration.