Kefi Gold & Copper Regulatory News (KEFI)

20 March 2026

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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED, FOR INFORMATION PURPOSES ONLY AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, AND DO NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN OR INTO THE UNITED STATES, AUSTRALIA, SWITZERLAND, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE, DISTRIBUTION, OFFER OR SALE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT IN RESPECT OF KEFI GOLD AND COPPER PLC AND SHOULD NOT BE CONSIDERED AS A RECOMMENDATION THAT ANY INVESTOR SHOULD SUBSCRIBE FOR OR PURCHASE ANY SUCH SECURITIES.

KEFI Gold and Copper plc

("KEFI" or the "Company")

Results of Placing

KEFI (AIM: KEFI), a gold and copper exploration and development company focused on the Arabian-Nubian Shield with a pipeline of projects in the Federal Democratic Republic of Ethiopia ("Ethiopia"), and the Kingdom of Saudi Arabia, is pleased to announce that is has successfully raised gross proceeds of £34 million, (approximately US$45 million) before expenses, via the issue of 2,814,681,378 new Ordinary Shares (the "Placing Shares") at a price of 1.2 pence per share (the "Issue Price"). The Issue Price represents a discount of approximately 15 per cent. to the closing price per existing Ordinary Share as of 19 March 2026 (the latest practicable date prior to this Announcement).

The Placing was oversubscribed, receiving strong support from existing and new investors, allowing the Company to broaden its institutional following and market support. KEFI's management team actively participated in the structuring and allocation of the Placing.

Concurrent with the Placing, the Company is undertaking a retail offering to eligible retail investors (the "Retail Offering") for up to £1 million (approximately US$1.3 million). The results of the Retail Offering will be announced in due course.

The Company also intends to issue up to 71,048,917 new Ordinary Shares (the "Subscription Shares" and, together with the Placing Shares and the Retail Shares, the "New Shares") at the Placing Price to certain service providers of the Company to settle outstanding fees totalling approximately £853,000 (the "Subscription").

KEFI Founder and Executive Chairman, Harry Anagnostaras-Adams, commented:

"This strong and oversubscribed equity raise, driven by significant institutional demand, is a clear endorsement of KEFI's strategy and the quality of the Tulu Kapi project. The increased scale of the fundraising ensures that Tulu Kapi is now fully funded through development, replacing some higher cost capital and positioning us to move forward with confidence. Importantly, it also provides the funding to accelerate our substantial broader growth opportunities by advancing our highly prospective strategic exploration portfolio, both underground at Tulu Kapi and more widely. We believe this marks a pivotal step in unlocking substantial value for KEFI shareholders, both at Tulu Kapi and in the longer-term across a wider asset base. In addition, the institutional investor support we have received positions the Company well for its intended transition to the Main Market of the London Stock Exchange in due course."

Settlement of the Placing Shares, Posting of Circular and Notice of General Meeting

As set out in the Company announcement dated 19 March 2026, it is expected that the Placing Shares will be settled in two tranches. The first tranche of Placing Shares (the "First Tranche Placing Shares"), consisting of 589,000,000 new Ordinary shares (representing approximately 5.5% of the Company's existing issued share capital) is expected to settle on or around 8.00 a.m. on 24 March 2026. Settlement for, and Admission of, the 2,225,681,378 second tranche of Placing Shares (the "Second Tranche Placing Shares"), the Retail Shares and the Subscription Shares (representing approximately 22% of the Company's existing issued share capital) will be subject to the passing of the Resolutions at the General Meeting to be held on or around 14 April 2026. The Company will publish a Notice of General Meeting setting out the shareholder resolutions requiring approval, and the Board's recommended support for it, the week commencing 23 March 2026. The First Tranche Placing Shares will not require or be conditional upon further shareholder approval.

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company at 5:07 p.m. on 19 March 2026.

Total Voting Rights

Application has been made to the London Stock Exchange for Admission of the 589,000,000 First Tranche Placing Shares to trade on AIM and it is expected that Admission will become effective and that dealings in the First Tranche Placing Shares will commence at 8.00 a.m. on or around 24 March 2024. Following Admission of the First Tranche Placing Shares, the total issued share capital of the Company will consist of 11,339,979,447 Ordinary Shares each with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 11,339,979,447 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The person responsible for the release of this announcement is Harry Anagnostaras-Adams (Executive Chairman).

Enquiries

The information contained in this announcement is for information purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change.

Neither this announcement, nor any copy of it, may be taken or transmitted, published or distributed, directly or indirectly, in, or into the United States, Australia, Switzerland, Canada, Japan, or South Africa or to any persons in any of those jurisdictions or any other jurisdiction where to do so would constitute a violation of the relevant securities laws of such jurisdiction.

This does not constitute an offer to sell or issue, or the solicitation of an offer to buy, acquire or subscribe for any shares in the capital of the Company in the United States, Switzerland, Australia, Canada, Japan or South Africa or any other state or jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation.

Any failure to comply with these restrictions may constitute a violation of securities laws of such jurisdictions. The Placing Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "US Securities Act") or under any securities laws of any state or other jurisdiction of the United States or any jurisdiction where it would be unlawful to do so and may not be offered, sold, resold, transferred or delivered, directly or indirectly, in or into the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with the securities laws of any state or other jurisdiction of the United States and in compliance with the securities law of any other jurisdiction. No public offering of the Placing Shares is being made in the United States or any other jurisdiction where it would be unlawful to do so.

This announcement has been issued by, and is the sole responsibility of, the Company. No undertaking, representation or warranty or other assurance, express or implied, is or will be made or given by the Joint Bookrunners, or by any of their respective partners, directors, officers, employees, advisers, consultants, affiliates or agents as to or in relation to, the accuracy or completeness of the information or opinions contained in this announcement or any other written or oral information made available to any interested person or its advisers, and any liability therefore is expressly disclaimed. None of the information in this announcement has been independently verified or approved by the Joint Bookrunners or any of their respective partners, directors, officers, employees, advisers, consultants, affiliates or agents.

To the fullest extent permissible by law and applicable FCA Rules, none of (a) Stifel or Tavira, (b) any of Stifel or Tavira's respective affiliates, agents, directors, officers, employees or consultants, (c) to the extent not contained within (a) or (b), any person connected with Stifel or Tavira as defined in the Financial Services and Markets Act 2000, as amended (the "FSMA") ((b) and (c) being together "affiliates" and individually an "affiliate" of Stifel or Tavira) or (d) any person acting on Stifel or Tavira's behalf respectively shall have any liability (including to the extent permissible by law, any fiduciary duties) to any Placee or to any other person whether acting on behalf of a Placee or otherwise. In particular, neither Stifel nor Tavira nor any of their affiliates shall have any liability (including, to the extent permissible by law, any fiduciary duties) in respect of their conduct of the Placing or of such alternative method of effecting the Placing as the Joint Bookrunners and the Company may agree.

No statement in this announcement is intended to be a profit forecast or estimate, and no statement in this announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.

The Placing Shares to be issued pursuant to the Placing will not be admitted to trading on any stock exchange other than AIM, a market operated by the London Stock Exchange plc.