Implementation of Schemes of Arrangement

• African Gold's Share Scheme and Option Scheme approved and implemented
• Eligible Scheme Shareholders received 0.0628 New Montage Shares per African Gold Share
• Scheme Optionholders received 0.0628 New Montage Options per African Gold Option
• African Gold to be delisted from ASX

African Gold Ltd (ASX:A1G) has announced the implementation of its Share Scheme and Option Scheme, which were approved by Scheme Shareholders and Scheme Optionholders on 13 April 2026 and by the Supreme Court of Western Australia on 17 April 2026. Under the Share Scheme, all Scheme Shares have been transferred to Montage, and eligible Scheme Shareholders have received the Share Scheme Consideration of 0.0628 New Montage Shares for each African Gold Share held at 5:00pm (AWST) on 22 April 2026. New Montage Shares that Ineligible Foreign Shareholders would have received have been issued to a nominee who will sell them on the TSX, with the net proceeds distributed to those shareholders. Under the Option Scheme, all African Gold Options have been cancelled, and Scheme Optionholders have received the Option Scheme Consideration of 0.0628 New Montage Options for each African Gold Option held at 5:00pm (AWST) on 22 April 2026. Trading in African Gold Shares on the ASX was suspended from close of trading on 20 April 2026, and an application has been made to remove African Gold from the Official List of ASX, expected to take effect on and from close of trade on 30 April 2026.