Aminex PLC - Strategic Placing to fund Aminex to Ntorya Revenue

6 October 2025

Aminex plc

("Aminex" or "the Company")

Strategic Placing to fund Aminex to Ntorya Revenues

The Company is pleased to announce that it has successfully raised £2,925,000 (approximately $3.94 million) before expenses to fund the Company to the expected receipt of revenue from first gas production at the Ntorya field, currently projected for September 2026, through the issue of 177,272,727 new ordinary shares in the capital of Aminex (the "Placing") at a price of Stg 1.65p per share (the "Placing Shares").

The board of Aminex has taken the strategic decision to seek funds at this stage to meet its forecasted running costs (before contingent liabilities) to receipt of revenues from Ntorya, in place of continuing to draw down the remaining amount from the funding facility the Company currently has with its largest shareholder, Eclipse Investments LLC ("Eclipse"). As previously announced, the Company has drawn down $1.50 million of the funding facility and this sum (together with accrued interest of approximately $102,000) will be converted by Eclipse into equity in the Company, leaving the Company debt free and increasing Eclipse's shareholding by 72,061,293 shares in the Company (the "Converted Shares") (the Placing Shares and the Converted Shares, together the "New Shares"). Eclipse's total shareholding in the Company will increase from 1,153,536,807 shares (27.34%) to 1,225,598,100 shares (27.43%).

Pursuant to the Placing, each placee and Eclipse will receive one warrant for each New Share. Each warrant will give the holder the right to subscribe for one new ordinary share at a price of Stg 2.50p per ordinary share, exercisable for a period of 24 months from the date of issuance.

The New Shares will represent in aggregate 5.91% of the existing issued ordinary share capital of the Company and are being issued under existing general allotment authorities granted by shareholders at the Company's Annual General Meeting on 24 July 2025.

Applications will be made to the Financial Conduct Authority ("FCA") and the London Stock Exchange for the New Shares to be admitted to the FCA's Official List (Equity Shares (transition)) and to trading on the main market of the London Stock Exchange ("Admission"). It is expected that Admission will become effective and that dealings will commence in the New Shares at 8.00 a.m. (London time) on 20 October 2025. Following Admission, the enlarged share capital and the total voting rights of the Company will be 4,468,501,044.

Pursuant to the Placing, Axis Capital Markets Limited has been appointed joint broker to the Company, alongside Shard Capital Partners LLP.

Ntorya Development

As previously announced, an updated Field Development Plan was submitted by the operator, ARA Petroleum Tanzania ("APT"), outlining a phased approach with a 35-year production horizon and a materially higher gas plateau of 280 MMscfd, exceeding Tanzania's current national production. In addition:

·    following the award of the EPC contract for the construction of the pipeline from Ntorya to Madimba in July 2025 (the "Pipeline"):

o  the procurement process for the necessary pipe and equipment has commenced;

o  topographical and geotechnical surveys of the area have commenced;

o  mobilisation of construction equipment to the area will now begin later this month;

o  groundwork and pipelaying will commence in January 2026 with completion by July 2026;

·    first gas from Ntorya-2 ("NT-2") is expected approximately one month after Pipeline completion with revenues expected shortly after;

·    subject to success on the proposed Chikumbi-1 well ("CH-1") and once the Ntorya-1 well ("NT-1") is worked over, production is expected to reach 60 MMscfd from the three wells (NT-2, NT-1 and CH-1);

·    the rig tender process for the drilling of CH-1 and workover of NT-1 is ongoing;

·    the Ntorya development is expected to have a strategic national impact, positioned to alleviate energy poverty by replacing polluting fuels, expanding reliable gas supply for power, industry and agriculture, and strengthening Tanzania's long-term energy security;

·    the Company's carry from the Ruvuma PSA Farm-Out is still expected to cover its share of costs through to commercial production and beyond, whilst ongoing G&A costs have been maintained at recent historically low levels.

Charles Santos, Executive Chairman of Aminex commented:

"With the construction phase of the Ntorya Development underway, this strategic placement and conversion of debt to equity by Eclipse, which increases its holding, now leaves the Company debt-free and fully funded through to expected receipt of revenues next year. We are thankful for the participation of all the investors, including our largest shareholder, Eclipse, and look forward to providing further updates on the progress on our important and exciting project in the coming weeks and months."

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.