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4 February 2026

Hamak Strategy Limited

("Hamak" or the "Company")

Leadership Changes and Advisory Board Appointments

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) a company combining traditional gold exploration in Africa with a Digital Asset Treasury Management strategy announces new appointments to its Board and Advisory Board and the restructuring of its executive management team.

Summary:

·      Karl Smithson appointed as Chief Executive Officer and Executive Director

·      Mike Murphy appointed as Executive Director and Chief Strategy Officer

·      James Cable appointed Chief Financial Officer and Company Secretary

·      Nicola Horlick and Martin Lampshire to remain as interim Non-Executive Chair and Non-Executive Director respectively

·      Steven Poulton appointed as Gold Strategy Advisor

·      Tim Franks appointed as Treasury Strategy Advisor

Karl Smithson, CEO and Executive Director, commented:

"Hamak continues to strengthen its board and management team as we advance our unique strategy of pursuing high quality gold projects in West Africa, supported by a dual and balanced treasury policy of owning Bitcoin and physical gold.

"The restructuring of the team and the appointment of Mike Murphy as an Executive Director will lead to greater focus and efficiency with improved and more proactive shareholder interaction and communication.

"Separately, the appointments of Steven and Tim to advise the Board on our gold strategy and treasury policy respectively, further strengthens our leadership team. Working closely with management, they will help assess gold exploration, development and mining opportunities and drive innovative value creation from our balance sheet as we continue to build long-term shareholder value.

"Having founded Hamak and steered the Company through its IPO in 2022, I am delighted to resume the role of CEO as we enter a new growth phase with a clear strategy in place. I am fully committed to executing our strategy and realising significant returns for shareholders."

Mike Murphy, Executive Director and Chief Strategy Officer, commented:

"I am delighted to step into the role of Chief Strategy Officer at Hamak Strategy. This appointment builds naturally on the experience I have gained throughout my career, partnering with organisations to define direction, drive growth, and turn complex challenges into clear, actionable strategies.

"I am looking forward to working closely with the team to shape the firm's long-term vision, strengthen its market position, and deliver lasting value for the Company and its shareholders."

About the Appointments:

Karl Smithson is a qualified geologist, MBA and fellow of the Institute of Materials, Minerals & Mining. He will be responsible for the gold exploration and development activities and the general day to day management of the Company, and will be working closely with Mike Murphy on the broader corporate strategy, IR and PR.  He has over 30 years of resources experience in Africa, with the last 20 years in West Africa.

Mike Murphy is a seasoned City of London veteran with over 35 years' experience of working in a plethora of financial services firms. He worked at Citigroup, Robert Flemings, Barclays de Zoete Wedd and Lehman Brothers as a Global Equity Trader before going on to create and run several brokerages including Eden Financial and Novus Capital Markets. He was then Vice-Chairman of the Supervisory Board of Varengold Bank AG for four years before helping a number of companies across a variety of industry sectors in a senior advisory and consulting capacity. He is the co-founder of Hamak Strategy Ltd. and the founder of Ethtry Plc.

James Cable is a chartered accountant and highly experienced corporate executive in the junior resources sector. He has been Corporate Secretary of Hamak since the Company's IPO and is now taking a broader role in the financial management and reporting of the Company.

Steven Poulton is an economic geologist with over 25 years' experience in the mining sector with a focus on Africa. He brings expertise in strategy, governance, and capital markets, having co-founded and led multiple listed and private companies as well as investment vehicles. Most recently he was Executive Chairman and co-founder of Elemental Altus Royalties (now Nasdaq-listed Elemental Royalties). Steven is the founder of Adit Capital, an investor and advisor to high-growth potential companies on critical transactions, capital strategy, and risk management. Steven holds an MSc in Mining Geology from the Camborne School of Mines (University of Exeter). He is a co-founder of the Oxford Mining Club and a fellow of the Institute of Materials, Minerals & Mining and of the Geological Society of London.

Tim Franks is an experienced finance and digital asset professional with over 25 years' experience in investment banking and over 6 years' in digital assets. He has been involved in hundreds of placements and IPOs globally. He has held various roles in London and Hong Kong across equities, fixed income, FX, and derivatives, working for firms including Citigroup, HSBC, and Bank of China. Currently CFO and COO at Altenburg Capital which focuses on crypto lending, derivatives and other strategies. Tim holds a BSc Hons from Imperial College at Wye College and is a member of the CFA Institute.

The Company expects to announce a new Chairperson to complete the new Board and team in the near future.

For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of Hamak is Karl Smithson, CEO and Executive Director.

For further information on Hamak you are invited to view the company's website at https://hamakstrategy.com/ or please contact:

About Hamak Strategy Limited

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) is a UK listed company focussed on gold exploration in Africa and with a strategy of pursuing an appropriate and compliant BTC / crypto treasury management policy.

Important Notice

The Company maintains some of its treasury reserves and surplus cash in Bitcoin, a form of cryptocurrency. The Company is not authorised or regulated by The Financial Conduct Authority (FCA) and Bitcoin investments are generally not subject to regulation by the FCA or otherwise in the United Kingdom.  Neither the Company nor investors in the Company's shares are protected by the UK's Financial Ombudsman Service or the Financial Services Compensation Scheme.

However, the FCA considers Bitcoin investments to be high-risk. The value of Bitcoin can go up as well as down, leading to fluctuations in the value of the Company's Bitcoin holdings, and the Company may not be able to realise its Bitcoin holdings for the same amount it paid to acquire them, or even for the value the Company currently attributes to its Bitcoin positions.

The Company's Board of Directors have identified the following risks in relation to the holding of Bitcoin, which are not exhaustive:

•           The value of Bitcoin can be highly volatile, with its value falling as quickly as it rises. Investors in Bitcoin must be prepared to lose all money invested.

•           The Bitcoin market is largely unregulated. There is a risk of losing money due to factors such as cyber-attacks, financial crime, and counterparty failure.

•           The Company may not be able to sell its Bitcoin at will. The ability to sell Bitcoin depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks, and comingling of funds could cause unwanted delays.

•           Cryptoassets carry a perception of fraud, money laundering, and financial crime.

An investment in the Company is not an investment in Bitcoin itself, but prospective investors in the Company are encouraged to conduct their own research before investing and should be aware that they will have indirect exposure to the high-risk nature of cryptoassets, including their volatility, and could therefore sustain large or total losses of their investment.