Page 1

AFRICAN AP PIONEER PLC 30 September 2026 African Pioneer Plc ( " African " or the " Company " ) Interim Results for the Six Months Ended 30 June 2026 African Pioneer Plc a company engaging in development of natural resources exploration projects in Sub - Saharan Africa , announces its unaudited interim results for the six months ended 30 June 2026 as set out below . A copy of the Interims is available on the Company's website https://africanpioneerplc.com/ Chairman's Statement Dear Shareholder , I am pleased to report that the period under review has been a successful and important one for African Pioneer , with considerable progress made in advancing our Namibian copper portfolio , while continuing to progress our exploration interests in Zambia and evaluate additional opportunities in Namibia and Botswana . The Company also improved its financial position by the issue shares for £ 2,208,707 which included gross cash proceeds of £ 1,800,000 and £ 408,667 to settled accrued fees Namibia - Ongombo and Ongeama The most significant development during the period has been the signing of a term sheet for a definitive financing and technical services agreement with Hong Kong Xinhai Mining Services Limited ( " Xinhai " ) for the development of our Ongombo and Ongeama copper projects in Namibia . Post period - end the definitive agreement was executed in respect of which all conditions precedent have now been met . The agreement represents an important milestone for African Pioneer and provides a clear pathway towards the further definition and potential development of these projects . Operations are now being established and planning for the substantial drilling programme at Ongombo and Ongeama is well advanced . The programme provides for 7,000 metres of drilling across the two projects , with provision for a further 3,000 metres at Ongeama subject to the results of the initial programme . The drilling is designed to provide additional geological and technical information required for mine planning , while also seeking to expand and further define the existing mineral inventory . Our attention is firmly focused on implementation of the programme and establishment of the necessary operational capability in Namibia . We believe that Ongombo , together with the exploration potential at Ongeama , provides African Pioneer with an excellent opportunity to establish a meaningful copper business in Namibia . In parallel , we continue to pursue other potential opportunities within Namibia's Northern Matchless Belt . This highly prospective geological setting remains an area of particular interest to the Company and we will continue to evaluate opportunities capable of complementing our existing Namibian copper portfolio . Zambia Our projects in the North - Western Province of Zambia remain an important component of the Company's exploration portfolio . Field exploration has been undertaken during the period and we continue to evaluate the geological potential of our licence areas . We are also currently in discussions with a number of major copper mining companies regarding the potential for joint venture arrangements over our Zambian interests .