Richmond Hill Resources Plc – Further re Establishment of EBT

Richmond Hill Resources PLC
(«Richmond Hill» or the «Company»)

Further re Establishment of EBT

Richmond Hill Resources PLC (AIM: RHR) announces that it has now established the
Richmond Hill Resources Employee Benefit Trust («EBT») to implement the use of
an incentive plan as set out in the announcement of 17 December 2025.

The Company intends to issue and allot 59,421,094 new ordinary shares in the
Company to the EBT (the «EBT Shares») at a price per share of £0.001, being the
Company’s nominal share value, as advised in its admission document published on
26 September 2025, which is equivalent to 8.27% of the Company’s as enlarged
issued ordinary share capital of the Company. These ordinary shares shall be
held in the EBT on trust pending transfer upon the vesting (or exercise, as the
case may be) of awards granted, and for such other purposes relating to the
ongoing recruitment, retention and incentivisation of employees as may be
recommended by the Company from time to time (subject to the approval of the
Remuneration Committee). The Company has entered into a loan agreement with the
trustees to fund the subscription of the EBT Shares by the trustees.

Admission

Application will be made to the London Stock Exchange for admission of the EBT
Shares to trading on AIM («Admission»). It is expected that Admission will
become effective and dealings in the EBT Shares will commence at 8.00 a.m. on or
around 11 February 2026. The EBT Shares will be issued fully paid and will
rankpari passuin all respects with the Company’s existing Ordinary Shares.

Total voting rights

Following Admission, the total number of ordinary shares in the capital of the
Company in issue will be 718,264,341 with voting rights. This figure may be used
by shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to their
interest in, the Company’s share capital pursuant to (i) the Company’s Articles,
(ii) the Financial Conduct Authority’s Disclosure Guidance and Transparency
Rules and/or (iii) the AIM Rules for Companies issued by the London Stock
Exchange plc as amended from time to time.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans, uncertainties
resulting from working in a new political jurisdiction, uncertainties regarding
the results of exploration, uncertainties regarding the timing and granting of
prospecting rights, uncertainties regarding the Company’s ability to execute and
implement future plans, and the occurrence of unexpected events. Actual results
achieved may vary from the information provided herein as a result of numerous
known and unknown risks and uncertainties and other factors.

This announcement contains inside information for the purposes of the UK Market
Abuse Regulation and the Directors of the Company are responsible for the
release of this announcement.

For further information, please contact:

Richmond Hill Resources Tel: +44 (0)787958 4153

Hamish Harris
Cairn Financial Advisers LLP (Nominated Adviser) Tel: +44 (0)20 7213 0880

Ludovico Lazzaretti / James Western
Clear Capital Limited (Broker) Tel: +44 (0) 20 3869 6080

Bob Roberts

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