Issue of Equity in lieu of past director’s fees

Shuka Minerals PLC

23 July 2026

Shuka Minerals Plc

("Shuka" or the "Company")

Issue of Equity in lieu of past director's fees

23 July 2026

Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, announces that it has agreed to issue 375,000 new ordinary shares at a price of 4 pence per share (the "Fee Shares") in lieu of accrued fees owed to a former director.

Admission and total voting rights

Application will be made to the London Stock Exchange for the Fee Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8.00 a.m. on or around 29 July 2026.

Following Admission, the total issued share capital of the Company will comprise 143,762,497 Ordinary Shares, each with voting rights. The Company holds no Ordinary Shares in treasury. The figure of 143,762,497 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 to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The Directors of Shuka are responsible for the contents of this announcement.

ENDS

Shuka Minerals plc has its primary listing on the London Stock Exchange ("AIM") and a secondary listing on the AltX of the JSE Limited.

For enquiries contact:

Shuka Minerals Plc Richard Lloyd Chief Executive Officer	+44 (0)7990 503 007
Nominated Adviser Cairn Financial Advisers LLP Sandy Jamieson / Ludovico Lazzaretti / James Western	+44 (0)20 7213 0880
JSE Sponsor & Listing Advisor AcaciaCap Advisors Proprietary Limited Michelle Krastanov	+27 (11) 480 8500
Broker Tavira Financial Limited Oliver Stansfield / Jonathan Evans	+44 (0)20 7100 5100
Investor Relations Olivia Lloyd	+44 (0)208 892 8329

Caution:

Certain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should", ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

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