Mr. Eldur Olafsson reports

VESTING AND NEW AWARDS UNDER THE RESTRICTED SHARE UNIT PLAN (THE "RSU PLAN") AND TOTAL VOTING RIGHTS

On Feb. 12, 2026, certain restricted share units vested and new awards were granted under Amaroq Ltd.'s RSU plan. Further details are set out below.

Vesting of the RSUs

Following the release made on Feb. 12, 2025, regarding the granting of an award to directors and employees in line with the company's RSU plan, a total of 1,792,236 RSUs (representing 50 per cent of the award) have vested. This includes allocations to the PDMRs (persons discharging managerial responsibilities) Eldur Olafsson (director and chief executive officer) and Joan Plant (interim chief operating officer), bringing their total holdings to 17,055,825 and 551,007 shares, respectively. The remaining 50 per cent of shares will vest on the second anniversary of the grant date.

Recipients of the vested shares may sell a portion of such shares in the near term to cover applicable tax obligations arising on vesting.

Application will be made for admission of the RSU shares to trading on the AIM (Alternative Investment Market). It is expected that admission will become effective and that dealings in the RSU shares will commence on the AIM at 8 a.m. on Feb. 17, 2026. Following admission of the RSU shares, the company's total issued share capital will consist of 465,441,058 common shares of no par value each, and each with voting rights. Given the company does not hold any common shares in treasury, 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 in interest in, the share capital of the company.

Awards of the RSUs

The company also announces that on Feb. 12, 2026, in accordance with the RSU plan, it granted awards to certain directors and employees, details of which are set out below.

In addition to the awards described above, 69,476 RSUs were also granted to personnel under the RSU plan, all of which will vest on the first anniversary of the grant date. Full details of the RSU plan are available on the company's website.

About Amaroq Ltd.

Amaroq's principal business objective is the identification, acquisition, exploration and development of gold and strategic metal assets in Greenland. The company's flagship asset is the 100-per-cent-owned Nalunaq gold mine, currently in production and ramp-up and supported by a growing pipeline of high-grade satellite gold targets across southern and western Greenland.

Amaroq also acquired a 100-per-cent interest in the Black Angel zinc-lead-silver project in western Greenland, historically one of Greenland's highest-grade base metal operations, where the company is advancing studies to evaluate the potential for future redevelopment as part of its emerging western Greenland hub strategy.

Beyond gold and base metals, Amaroq controls a broad portfolio of strategic metal licences across southern Greenland, including advanced exploration projects at Stendalen (copper-nickel sulphides) and within the Sava belt, where the company is exploring for copper, nickel, rare earth elements and other critical minerals.

Amaroq is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq AS, incorporated under the Greenland Companies Act.