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20 July 2026

Hamak Strategy Limited

("Hamak" or the "Company")

Warrant Exchange Offer: Minimum Acceptance Threshold Surpassed

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF), a company combining advanced gold exploration in West Africa with a disciplined Digital Asset Treasury Management strategy, is pleased to announce that the minimum acceptance condition for its voluntary warrant exchange offer announced on 13 July 2026 (the "Warrant Exchange Offer" or the "Offer") has now been satisfied.

The Company has received elections in respect of more than 100,000,000 Eligible Warrants, thereby surpassing the minimum cancellation threshold set out in the Offer. Subject to final verification of elections, admission, registrar/CREST processing and customary settlement mechanics, all Eligible Warrants validly surrendered under the Offer will be cancelled and the corresponding new ordinary shares will be issued in accordance with the previously announced exchange ratio of one new ordinary share for every five Eligible Warrants validly surrendered and cancelled.

Highlights

·  Minimum acceptance condition satisfied, with elections now received in respect of more than 100,000,000 Eligible Warrants.

·  The threshold elections represent the expected cancellation of at least 100,000,000 0.8p warrants upon completion of the Offer, subject to final validation and settlement.

·  At the exchange ratio of one new ordinary share for every five Eligible Warrants, the threshold elections alone represent at least 20,000,000 new ordinary shares, subject to final verification and admission.

·  The Offer remains open until the close of business on Friday 24^th June for the balance of the previously announced election window, giving all eligible holders who have not yet elected the opportunity to participate.

·  The Board believes the early support for the Offer demonstrates clear shareholder alignment around the objective of simplifying Hamak's capital structure and reducing the perceived warrant overhang.

Offer update

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

"Surpassing the 100 million warrant cancellation threshold is an important and very positive milestone for Hamak.

"We launched this Offer because we listened carefully to shareholders and recognised that the 0.8p warrant overhang was creating unnecessary uncertainty around the Company.

"The early response shows that warrant holders understand the benefits of a cleaner and more transparent capital structure. Once completed, the Offer will allow us to cancel a significant block of warrants and convert that potential overhang into a much smaller, clearly defined share issue.

"This is exactly the kind of practical, shareholder-focused action the Board wants to take: preserving cash, reducing uncertainty and helping investors focus on the core value drivers for Hamak, including the Akoko Gold project, our wider West African gold portfolio and our disciplined Bitcoin treasury strategy."

Next steps

The Offer remains open for the previously announced election period. Following closure of the Offer, the Company will validate final elections and announce the final number of Eligible Warrants to be cancelled, the number of new ordinary shares to be issued and the residual warrant position.

Application will be made, as appropriate, for any new ordinary shares issued pursuant to the Offer to be admitted to trading on the London Stock Exchange. The new ordinary shares, when issued, will rank pari passu with the Company's existing ordinary shares.

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.