Confirmation Regarding Existing Performance Rights

About this update from Sarama Resources Ltd.

PERTH, AUSTRALIA AND VANCOUVER, BC / ACCESS Newswire / July 20, 2026 / Sarama Resources Ltd. ("Sarama" or the "Company") (TSXV:SWA)(ASX:SRR) refers to its announcement of 11 April 2025 ("Announcement") regarding: The Employee Awards were issued on 11 April 2025 in reliance on ASX Listing Rule 7.2 exception 13(b). The Director Awards were issued on 11 June 2025 following the receipt of shareholder approval under ASX Listing Rule 10.14 at the Company's annual general meeting held on 10 June 2025. Refer to the Company's notice of meeting lodged with the ASX on 12 May 2025 for further information ("Notice of Meeting"). The Employee Awards and Director Awards were issued on the same terms. Employee Awards The Company advises that the Announcement included a drafting error which incorrectly characterised the vesting date of the Employee Awards as the expiry date. The Employee Awards were agreed to be granted on terms as follows: The Company confirms that the Employee Awards remain on foot in accordance with the agreed terms of their grant and that there is no change in the terms of the Employee Awards. This announcement is intended to clarify a drafting error in a previous announcement made by Sarama. Director Awards As noted above, the Director Awards were issued in accordance with shareholder approval obtained at the annual general meeting of the Company held on 10 June 2025 and on the same terms as the Employee Awards. The Company advises that the Notice of Meeting included the same drafting error as the Announcement. The correct terms for the Director Awards are detailed above under the heading "Employee Awards". Accordingly, the Company must seek a refreshed shareholder approval for the Director Awards as the original approval is now considered stale. The Company provides the following additional information regarding the current status of the Director Awards: The Company intends to seek the requisite shareholder approval for the Director Awards at its upcoming annual general meeting expected to be held in September 2026. The Company will provide shareholders with further details, including a notice of meeting and explanatory memorandum, in due course. For further information on the Company's activities, please contact: Andrew Dinning e: [email protected]: +61 (0) 8 9363 7600 This announcement was authorised for release to the ASX by the Board of S...

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