Notification to Shareholders - Subscription Rights

Golden Prospect Precious Metals Limited

(the “Company”)

Notification to Shareholders in regard to Subscription Rights

Please be reminded that Shareholders have the right to subscribe for Ordinary Shares in the Company in cash on the basis of one new Ordinary Share for every five existing Ordinary Shares held on 10 November 2026, exercisable on 30 November 2026, at a price of 101.35 pence per share (being the price equal to the audited undiluted net asset value of an Ordinary share on 1 December 2025, adjusted for any dividends marked ex-dividend subsequently).

The Subscription Price (101.35 pence) is, at present, materially above the current share price (93.90 pence as at 29 October 2026)

Shareholders are not obliged to exercise their Subscription Rights and if they do not exercise their rights a Subscription Trustee appointed by the Company may, subject to its evaluation of market demand, attempt to place or sell shares in connection with the unexercised Subscription Rights and return any proceeds, net of costs, within 14 calendar days to Shareholders who have not exercised their rights. There can be no guarantee that such a sale of Subscription Rights will be possible or at what price. Shareholders are therefore advised to consider carefully their options concerning whether to exercise their Subscription Rights or not and to seek financial advice if unsure of their position.

The Company’s website https://www.bakersteelcap.com/baker-steel-golden-prospect-precious-metals/ shows the Company’s closing share price the Business Day before in the Share Price Information Section. This should be compared to the Subscription Price of 101.35 pence enabling shareholders to monitor the difference between the up-to-date market price and the Subscription Price, as prices can change between the date of this letter and the date of exercise.

Following the admission of the Company’s shares to the Main Market segment of the London Stock Exchange, the previous €8 million threshold under the UK prospectus exemption (which would be £5 million for the 2026 Subscription Rights, following a change in regulation) no longer applies. Accordingly, the offer will not be subject to scaling back should the total amount raised exceed this level.

Mid-market prices of the Ordinary Shares

Set out below, for information only, is a table showing the mid-market price of the Ordinary Shares on the last Business Day of the month since March and on the Latest Practicable Date.

The deadline to submit instructions is 1 p.m. on Thursday, 26 November 2026.

Shareholders who hold Ordinary Shares in uncertificated form, will be allocated Subscription Right entitlements in CREST on 13 November 2026 by reference to their shareholdings as at close of business on 10 November 2026 (the Record Date).

Shareholders who hold Ordinary Shares in certificated form, will have the option to exercise their Subscription Rights, in whole or in part, either online via the Subscription Portal or by completing and returning a personalised application form, which will be sent to shareholders on 13 November 2026. Detailed instructions on how to exercise Subscription Rights are included in the notice.

Ordinary Shares issued pursuant to the exercise of Subscription Rights are expected to be allotted within 14 Business Days of the relevant Subscription Date.

A notice has been sent to all Shareholders and is attached to this announcement for reference.

http://www.rns-pdf.londonstockexchange.com/rns/0733B_1-2026-10-29.pdf

For further information, please contact:

About the Company 

About Golden Prospect Precious Metals (website here)

Golden Prospect Precious Metals Limited is a closed-ended investment company incorporated with limited liability in Guernsey on 16 October 2006.

The investment objective of the Company is to deliver attractive returns to Shareholders, both in the form of capital growth and attractive regular dividends, with any dividends to be funded in whole or in part by income and/or capital reserves.

The Company seeks to achieve its objective by investing in a portfolio of listed small and mid-cap companies involved in the gold, silver and other precious metals mining sector, diversified across explorers, developers and producers.

The Company’s current dividend policy, announced on 10 July 2026, is to target an annual dividend of c. 6% to be paid quarterly at a rate of 1.5% of the NAV per ordinary share at the end of the preceding quarter.

About Baker Steel Capital Managers LLP (website here)

Baker Steel Capital Managers LLP (“Baker Steel”) was appointed Investment Manager to Golden Prospect Precious Metals on 19 October 2026.

Baker Steel is an independently owned specialist investment manager founded in 2001, focused on the natural resources and mining sectors, particularly gold and precious metals equities.

Mark Burridge and Trevor Steel lead the Company’s portfolio management. They are both geologists by training, with multi-cycle investment experience in the mining sector. They are supported by a team of analysts with backgrounds ranging from geology and engineering to economics and social sciences.

The firm employs a value-driven, actively managed investment approach combining bottom-up stock selection, technical sector expertise and rigorous risk management.

Baker Steel manages assets on behalf of professional investors, wealth managers and financial institutions from offices in London and Perth, Western Australia.

The firm is authorised and regulated by the UK Financial Conduct Authority.

END OF ANNOUNCEMENT