Issue of shares to Xinhai and Total Voting Rights

African Pioneer PLC

28 September 2026

28 September 2026

African Pioneer Plc
(“African Pioneer” or the “Company”)

Issue of shares to Xinhai and Total Voting Rights

African Pioneer Plc (“AFP”), the exploration and resource development company is pleased to announce that further to its announcements of 30 July 2026, 1 September and 21 September 2026 Hong Kong Xinhai Mining Services Limited (“Xinhai“) have paid their share subscription of GBP712,786 under the financing and technical services agreement (the “Definitive Agreement”) signed between the Company and Xinhai announced on 30 July 2026 in respect of which Xinhai will be issued 61,981,383 African Pioneer shares of no par value (“Ordinary Shares”) at 1.15 pence per Ordinary Share. Xinhai will also be issued 3,333,333 Ordinary Shares at 0.9 pence per Ordinary Shares in relation to the conversion of Xinhai’s previously paid intention money of GBP30,000.

The 65,314,716 new Ordinary Shares being issued to Xinhai when issued will rank pari passu with the existing Ordinary Shares in the Company and Xinhai will own 10.99% of the Company’s share capital as enlarged by the issue of new Ordinary Shares to Xinhai.

In accordance with the Definitive Agreement Xinhai will also be issued 30,990,692 warrants to subscribe for Ordinary Shares at 1.6 pence per share exercisable during the six-month period commencing on the completion of Stage 4 (as defined in the 30 July 2026 RNS) (the “Xinhai Warrants”).

Application to trading: Application will be made for the 65,314,716 new Ordinary Shares to be admitted to trading on the main market the London Stock Exchange (“Admission”). It is expected that Admission will become effective and that dealings in the Warrant Exercise Shares will commence at 8.00 a.m. on or around 2 October 2026.

Total Voting Rights: Following the issue of the new shares the Company’s total issued share capital will consist of 594,047,160 Ordinary Shares with voting rights.The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares.

On Admission, the abovementioned figure of 594,047,160 Ordinary Shares may be used by shareholders in the Company 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, African Pioneer under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

For further information, please contact:

African Pioneer Plc Colin Bird, Chairman	Tel +44 (0) 20 3961 6084
Beaumont Cornish Limited (Financial Adviser) Roland Cornish/Asia Szusciak	Tel +44 (0) 20 7628 3396
AlbR Capital Limited (Joint Broker) Jon Belliss	Tel +44 (0) 20 7399 9425
Shard Capital Partners LLP (Joint Broker) Damon Heath	Tel +44 (0) 20 7186 9952

or visithttps://africanpioneerplc.com/

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is Financial Adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.Distribution: This announcement has been notified via a Regulatory Information Service and it is not authorised for distribution into North America or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

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