Mr. Mark Child reports

NOTICE OF CONVENING HEARING

Further to the announcement made by Condor Gold PLC and Metals Exploration PLC on Dec. 4, 2024, in relation to the proposed recommended offer by MTL for the entire issued, and to-be-issued, ordinary share capital, the board of Condor Gold has confirmed that it has issued a Part 8 claim form in the Companies Court for an order under Section 896 of the Companies Act 2006 to convene on Jan. 6, 2025, at 10 a.m., a single meeting of the holders of its ordinary shares for the purpose of considering and, if thought fit, approving (with or without modification) a scheme of arrangement proposed to be made between the company and the holders of its shares to give effect to the offer. Further details regarding the proposed scheme are set out in the Rule 2.7 announcement.

If the court makes an order that the meeting be convened and if, at the meeting, a majority in number representing 75 per cent in value of the scheme shareholders present and voting either in person or by proxy agree to the proposed arrangements, the court may, on further application by the company under Section 899 of the Companies Act 2006, sanction the proposed scheme of arrangement.

A hearing of the claim is listed on Dec. 9, 2024, at 10:30 a.m. The convening hearing is to be held on-line, and shareholders wishing to be represented at the convening hearing should contact the company secretary of the company at cosec@condorgold.com. Scheme shareholders are entitled to attend or be represented at both the convening hearing and the hearing of the court at which the company will seek an order sanctioning the scheme, which is expected to be held on Jan. 13, 2025.

Subject to the order being granted, a scheme document in relation to the proposed scheme will be published in due course, and a further announcement will be made at that time.