Publication of Prospectus

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY ORINDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA, CANADA , HONG KONG, JAPAN , NEW ZEALAND ,THE REPUBLIC OF SOUTH AFRICA, SINGAPORE, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN BEOWULF MINING PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON INCONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF BEOWULF MINING PLC.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018 (as amended). Upon the publication of this announcement, through the agency of the contact person of the Company set out below, this inside information is now considered to be in the public domain.

13 March 2024

Beowulf Mining plc

("Beowulf" or the "Company")

Publication of Prospectus

Beowulf (AIM: BEM; Spotlight: BEO), is pleased to announce that further to the announcements of 16 February 2024, 4 March 2024 and 12 March 2024, that the Prospectus in respect of the Company's rights issue of Swedish Depository Receipts (the "Rights Issue") (the "Prospectus") has been approved by the Swedish Financial Supervisory Authority and has been published by the Company. The Prospectus, as it relates to the Rights Issue, is provided in Swedish only.

The Prospectus is available to view on the Beowulf website at:

https://beowulfmining.com/investors/capital-raising-2024/

The Prospectus will also be made available to view on the Evli Plc’s and Aqurat Fondkommision’s webpages at www.evli.com and www.aqurat.se as well as at Swedish Financial Supervisory Authority website www.fi.se.

Link to relating press releases:

https://polaris.brighterir.com/public/beowulf_mining_plc/news/rns/story/w63zplw (16 February 2024)

https://polaris.brighterir.com/public/beowulf_mining_plc/news/rns/story/x81m25w (4 March 2024)

https://polaris.brighterir.com/public/beowulf_mining_plc/news/rns/story/w3pp92x (12 March 2024)

Advisers

In relation to the Rights Issue, the Company has engaged Evli Plc as Swedish financial adviser, Bird & Bird Advokat KB as Swedish legal advisor and Aqurat Fondkommission AB as Swedish issuing agent.

Enquiries:

Beowulf Mining plc

Ed Bowie, Chief Executive Officer                       [email protected]

Evli Plc

(Swedish financial adviser)

Mikkel Johannesen / Lars Olof Nilsson                Tel: +46 (0) 73 147 0013

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.