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.

27 July 2026

Hamak Strategy Limited

("Hamak" or the "Company")

Warrant Exchange Offer: 179,906,090 Warrants Tendered for Cancellation

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 the successful closure and final result of its voluntary warrant exchange offer announced on 13 July 2026 (the "Warrant Exchange Offer" or the "Offer").

Valid elections were received in respect of 179,906,090 Eligible Warrants, exceeding the Offer's 100,000,000 minimum condition by 79,906,090 Eligible Warrants, or approximately 79.9%. At the one-for-five exchange ratio, the Company expects to issue 35,981,218 new ordinary shares, reducing the potential ordinary shares represented by the surrendered warrants by 143,924,872, or 80%, subject to final verification, cancellation, admission and customary settlement mechanics.

Highlights

· The Warrant Exchange Offer has closed successfully, with 179,906,090 0.8p Eligible Warrants tendered for surrender and cancellation.

·  Final acceptances exceeded the 100,000,000 minimum threshold by 79,906,090 Eligible Warrants, equivalent to approximately 79.9%.

·  At the one-for-five exchange ratio, the Company expects to issue 35,981,218 new ordinary shares.

·  No Director or PDMR has accepted the cancellation offer, based on their individual and collective belief in the immediate and longer term prospects for the Company.

· The exchange removes 143,924,872 potential ordinary shares from the surrendered warrant pool - an 80% reduction - materially simplifying Hamak's capital structure and reducing the perceived warrant overhang.

Final Offer results

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

"This is an outstanding result for Hamak and a strong endorsement of the Board's decision to listen to shareholders and act decisively. Almost 180 million warrants have been tendered for cancellation, 79.9% above the minimum threshold. Through the one-for-five exchange, approximately 36.0 million new shares will replace that potential issuance, removing approximately 143.9 million shares of potential future dilution from the surrendered warrant pool.

"This materially strengthens and simplifies Hamak's capital structure, gives investors greater clarity and allows the market to focus more fully on the value being created through the Akoko Gold project, our wider West African gold portfolio and our disciplined Bitcoin treasury strategy. I thank participating warrant holders and shareholders for their strong support; Hamak is now better positioned to move forward with confidence."

Admission and next steps

The Company will now complete the final administrative verification of elections and arrange for the cancellation of the 179,906,090 Eligible Warrants and the issue of 35,981,218 new ordinary shares in accordance with the terms of the Offer. A further announcement will be made confirming admission, the updated total voting rights and the residual warrant position once processing has been completed.

Application will be made, as appropriate, for the 35,981,218 new ordinary shares 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.