Anglo Asian Mining - Demirli sales agreement

3 November 2025

Anglo Asian Mining plc

Copper concentrate sales agreement with Trafigura for its Demirli mine

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM-listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce it has contracted to sell concentrate produced at its Demirli copper mine in Karabakh to Trafigura Pte Ltd ("Trafigura"). The sales contract includes a revolving prepayment facility of up to $25 million.

Anglo Asian has now received the necessary licences to operate the processing plant at its Demirli mine from the Government of Azerbaijan (the "Government"). The finalisation of the required documentation is ongoing, but the licences have been granted in parallel with this process. Anglo Asian has also been granted a permit to use the existing tailings dam for up to 12 months, during which period a second tailings dam will be constructed. The operating lease for the Demirli processing plant commenced on 1 October 2025.

A copper concentrate sales contract has been signed with Trafigura which has been approved by the Government. The Company expects the first sale of concentrate will be completed in mid-November 2025.

Reza Vaziri, CEO of Anglo Asian, commented:

"I am delighted that we have received all the relevant licenses to operate the plant and tailings dam at Demirli, an important milestone as the mine becomes fully operational and increasingly contributes to Group production. The obtaining of all relevant licenses together with the Trafigura sales contract enables us to now commence copper concentrate sales and deliver value from Demirli."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

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About Anglo Asian Mining

Anglo Asian Mining plc (AIM:AAZ) is a copper and gold producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 377 tonnes of copper and 15,073 ounces of gold for the year ended 31 December 2024. In the nine months to 30 September 2025, the Company produced 3,475 tonnes of copper and 18,912 ounces of gold.

The Company's strategic plan for growth shows a clearly defined path for the Company to transition to a multi-asset, mid-tier, copper and gold producer by 2030, by which time copper will be the principal product of the Company, with forecast annual production of around 50,000 to 55,000 tonnes of copper. It plans to achieve this growth by bringing into production three new mines during the period 2027 to 2030 at Xarxar, Garadag and Zafar, in addition to the newly opened Gilar and Demirli mines. Production commenced at the Gilar mine in May 2025 and Demirli in July 2025. https://www.angloasianmining.com/