Ntorya Operations Update

3 February 2026

Aminex plc

 ("Aminex" or "the Company")

Ntorya Operations Update

Aminex, the oil and gas exploration and development company focused on Tanzania, is pleased to provide the following update from the operator (ARA Petroleum Tanzania (APT)), on the Ntorya development:

· the civil works in and around the Ntorya development began on schedule at the end of January 2026;

· various engineering and surveying contracts for the hook-up of the Ntorya-2 well have been awarded and work has begun, with the award of the principal contract expected to be made shortly;

· the procurement process for contracting a drilling rig for the drilling of the Chikumbi-1 well (CH-1) and workover of the Ntorya-1 well (NT-1) is well underway, with a shortlist of contractors now finalised.

TPDC has also informed the Company that line pipe for the pipeline from Ntorya to Madimba is now at the site.

Charles Santos, Executive Chairman of Aminex, commented:

"Following the start of the ground clearing along the pipeline route to Madimba last month, we are very pleased to see that civil, surveying and engineering work has begun on schedule and that the pipe for the pipeline is now at the site. We are extremely pleased with both the Operator and TPDC, and the Tanzanian authorities who have made this project a top priority. This is an exciting period for Aminex and our shareholders, as well as all other stakeholders involved in the development. We will provide further operational updates soon."

Notes to Editors:

The Ntorya Development Licence area lies adjacent to a region containing supergiant world-class LNG projects, extending from offshore Tanzania into Mozambique waters to the south. The JV partners intend to produce Ntorya gas into the growing domestic gas market, helping to alleviate energy poverty and boost the energy transition in Tanzania.

Aminex, with a 25% non-operated interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex). The carry is expected to see the Company through to the commencement of commercial gas production from the Ntorya field at zero cost to the Company.