NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA,
CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY
OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

15 July 2026

Hamak Strategy Limited

("Hamak" or the "Company")

Warrant Exchange Offer - Notice to Eligible Warrant Holders

Further to the announcement released on 13 July 2026 regarding the proposed voluntary exchange offer to eligible holders of the Company's 0.8p warrants (the "Warrant Exchange Offer"), Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) wishes to provide the following information to all holders of Eligible Warrants.

As previously announced, the Board has proposed the Warrant Exchange Offer (the "Offer") in response to shareholder feedback regarding the perceived overhang created by the Company's outstanding 0.8p warrants. The Board believes the Offer provides an equitable, transparent and cash-preserving mechanism to materially reduce potential future dilution while simplifying the Company's capital structure.

Eligible holders may elect to exchange their Eligible Warrants on the following basis:

·     One new ordinary share in the Company for every five Eligible Warrants validly surrendered and cancelled.

The Offer remains subject to the conditions set out in the announcement of 13 July 2026, including the requirement that valid elections are received in respect of at least 100,000,000 Eligible Warrants. If the Offer proceeds and all Eligible Warrants participate, approximately 452.1 million warrants would be cancelled and approximately 90.4 million new ordinary shares would be issued, representing an approximate 80% reduction in potential future dilution compared with full exercise of those warrants.

If you hold Eligible Warrants and wish to exchange them for new shares in Hamak, please email your acceptance to [email protected] or [email protected]; and copy in [email protected] and [email protected], setting out the holder's name and the number of Eligible Warrants you wish to exchange.

The Offer will remain open for 10 business days from the date of the original announcement, 13 July 2026, with participating holders expected to receive their new shares within one month of expiry of the Offer period, subject to admission and customary settlement mechanics.

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 focused on gold exploration in Africa and a Digital Asset Treasury Management strategy focused on Bitcoin.

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 has 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 supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and commingling 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.