Portfolio Management Update

19 May 2026

Golden Prospect Precious Metals Limited
(the "Company")

Portfolio Management Update

Further to the announcements by the Company on 9 and 26 March 2026 concerning its investment management arrangements and the serving of protective notice to its investment manager, CQS (UK) LLP (" CQS"), part of the Manulife Group, the Company is continuing to consider a number of options at its disposal.

In the meantime, pursuant to a sub-investment management agreement between CQS and Manulife Investment Management Limited ("Manulife Canada"), CQS will delegate portfolio management services in respect of the Company to Manulife Canada. The Company has provided its consent to this delegation.

Effective from 18 May 2026 two senior Manulife Investment Management Group portfolio managers, Diana Racanelli and Craig Bethune, will assume responsibility for the management of the portfolio. Keith Watson and Robert Crayfourd may provide advice in respect of the portfolio management process until their notice period expires on 2 June 2026. There is no change to the Company's investment process, strategy or operations. 

Diana Racanelli, CFA and Craig Bethune, CFA, based in Toronto, are senior portfolio managers at Manulife Investment Management, have been with Manulife for the past 12 years, and together manage USD544 million in metals & mining and energy assets, together with a further USD1,096 million in metals & mining and resources exposure in team managed assets.

The Board believes that taking this action is in the best interests of shareholders as the Company continues to explore its management options for the long term. A further update will be provided in due course.

Enquiries

Apex Fund and Corporate Services (Guernsey) Limited +44 (0) 203 5303 600

James Taylor [email protected]