Aminex PLC - 2022 HALF-YEARLY FINANCIAL REPORT

Aminex PLC ('Aminex' or 'the Group' or 'the Company') announces its unaudited half-yearly report for the six months ended 30 June 2022.

REPORTING PERIOD HIGHLIGHTS

Successful placing in April 2022 raised US$4.2 million (GBP3.3 million) before expenses, to fund the Company to expected receipt of revenue projected for end of 2024

Substantial progress on all aspects of Ruvuma operations, including 3D seismic acquisition, Chikumbi-1 well planning and commercial negotiations with Government of Tanzania Agreement reached in April 2022 with subsidiary of Orca Energy Group Inc, PanAfrican Energy Tanzania ('PAET'), for PAET to acquire approximately 12.5km-2 of high-resolution 3D seismic data over the Kiliwani North Development Licence at no cost to Aminex and its partners Loss for the period of US$1.27 million (30 June 2021: loss of US$1.59 million), a decrease of 20% on the same period last year

POST PERIOD END

Ruvuma 3D seismic full acquisition of data expected to be completed by 8 October 2022, with processing and interpretation continuing into early 2023 Spudding of Chikumbi-1 remains on schedule for November 2022 KNDL 3D seismic acquisition programme expected to be completed before year end

Charles Santos, Executive Chairman of Aminex commented

'The fully subscribed placement in April was an extremely important event, ensuring a solid financial foundation for the Company through to expected cash flows from Ruvuma. We are delighted that all activities on Ruvuma, operational and commercial, continue to progress under the efforts of the operator, APT. Finally, we look forward to completion of the 3D seismic acquisition programme by PAET over the core area of the KNDL, which will provide valuable data to the Company.'

Contact:

Aminex PLC

T: [phone]

Charles Santos

Executive Chairman

Davy

T: [phone]

Brian Garrahy

Shard Capital

T: [phone]

Executive Chairman's Review

The Company reports a loss for the period of US$1.27 million (30 June 2021: US$1.59 million). Further information is provided in the Financial Review. It is clear from numerous government statements and actions that Tanzania is seeking to expand its energy production to achieve further industrialisation. This national effort has seen the planning and construction of multiple facilities along existing gas delivery infrastructure either directly connected to or in proximity to our Tanzanian assets, which are expected to increase local gas demand significantly soon. In addition, it has been reported that Tanzania is exploring the possibility of supplying gas to its neighbours in the East African region. These developments bode well for the future commercialisation of our assets.

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