Grant of Options

About this update from Beowulf Mining Plc

  17 July 2025 Beowulf Mining plc ("Beowulf" or the "Company") Grant of Options   Beowulf (AIM: BEM; Spotlight: BEO) announces that the Board has approved the award of options granted under the Company's Long-Term Incentive Plan ("LTIP") to certain directors and senior management as follows:   Position Number of Options awarded Total number of Options held Ed Bowie Chief Executive Officer 800,000 1,800,000 Rasmus Blomqvist Managing Director, Grafintec 320,000 790,000 Dmytro Siergieiev Project Director, Jokkmokk Iron 320,000 440,000 Johan Röstin Non-Executive Chairman 288,000 648,000 Chris Davies Non-Executive Director 144,000 364,000 Mikael Schauman Non-Executive Director 144,000 324,000 Other Employees 256,000 591,000   The Company's LTIP was established on 8 July 2022, with advice from a leading independent consultancy specialising in the planning, design, and implementation of business-driven pay and reward strategies. The LTIP is designed to retain and incentivise key employees and Directors.    The options are exercisable at a price of 12 pence per share, vest over three years, in three equal proportions, a third on each subsequent anniversary of the date of grant and are valid for 10 years from the date of grant.    This award of options is for a total of 2,272,000 ordinary shares of 5 pence each in the capital of the Company, representing approximately 3.8 per cent of the existing issued share capital. Following the award of the options, there will be 5,442,000 ordinary shares of 5 pence each of the Company under option, representing 9.1 per cent of the existing issued share capital of the Company.       Enquiries:   Beowulf Mining plc Ed Bowie, Chief Executive Officer                     [email protected]   SP Angel (Nominated Adviser & Joint Broker)        Ewan Leggat / Stuart Gledhill / Adam Cowl         Tel: +44 (0) 20 3470 0470   Alternative Resource Capital (Joint Broker) Alex Wood                                                        Tel: +44 (0) 20 7186 9004   BlytheRay         Tim Blythe / Megan Ray                                     Tel: +44 (0) 20 7138 3204     Cautionary Statement Statements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to , (i) changes in the economic, regulatory and political environments in the countries where Beowulf operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Beowulf's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards iron ore. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. Beowulf assumes no unconditional obligation to immediately update any such statements and/or forecast.   1   Details of the person discharging managerial responsibilities / person closely associated   a)   Name     1)   Ed Bowie 2)   Rasmus Blomqvist 3)   Dmytro Siergieiev 4)   Johan Rostin 5)   Chris Davies 6)   Mikael Schauman 2   Reason for the notification   a)   Position/status     1)   CEO 2)   Managing Director, Grafintec 3)   Project Director, Jokkmokk Iron 4)   Chairman 5)   Non-Executive Director 6)   Non-Executive Director   b)   Initial notification /Amendment     Initial Notification 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor   a)   Name     Beowulf Mining Plc     b)   LEI     213800MV3XGAOASPT433 4   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted     a)   Description of the financial instrument, type of instrument ordinary shares of 5p each Identification code GB00BQ1LGQ19 b)   Nature of the transaction     Grant of options   c) Price(s) and volume(s) 1 12p 800,000 2 12p 320,000 3 12p 320,000 4 12p 288,000 5 12p 144,000 6 12p 144,000 d)   Aggregated information - Aggregated volume Not Applicable   - Price e)   Date of the transaction     17 July 2025 f)   Place of the transaction     London Stock Exchange / Spotlight  

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