Mr. Michael Hodgson reports

DIRECTOR / PDMR SHAREHOLDING

On May 12, 2026, Serabi Gold PLC board of directors has agreed to award in aggregate 458,114 conditional share awards (CSAs) to employees (including directors) of the company. The awards are part of the company's normal annual compensation review and the issuance is made under the Serabi 2020 restricted share plan (the 2020 plan) which was approved by shareholders on June 16, 2020, and adopted by the board on Nov. 10, 2020.

The awards are subject to a three-year performance period during which time certain performance criteria stipulated by the board must be attained. The underlying shares to be issued pursuant to each of the conditional share awards will only be issued and the rights transferred to the employees after the completion of the performance period and only in such amount (if any) as is required based on the achievement of the performance criteria.

The performance criteria and targets for the 2026 awards are summarized in the attached table.

A total of 289,178 conditional share awards have been granted by the board, as recommended by the remuneration committee, to directors of the company as shown in the attached table.

The remaining 170,683 conditional share awards have been made to other employees of the company. The number of conditional shares awarded was calculated by reference to the 30-day VWAP (volume-weighted average price) of the company's shares on May 12, 2026.

From 2026, a shareholding requirement will be introduced requiring Mike Hodgson and Colm Howlin to build a shareholding of 150 per cent and 135 per cent of salary respectively within five years. Until the shareholding is achieved, the executive directors will be required to retain 50 per cent of the net of tax vested shares from all future share awards.

Following these latest awards there are 2,202,948 conditional share awards in issue representing 2.91 per cent of the issued share capital of the company (excluding 573,209 new ordinary shares to be issued pursuant to the settlement of conditional share awards as announced on May 13, 2026).

About Serabi Gold PLC

Serabi Gold is a gold exploration, development and production company focused on the prolific Tapajos region in Para state, northern Brazil. The company has consistently produced 30,000 to 40,000 ounces per year with the Palito complex and is planning to double production in the coming years with the construction of the Coringa gold project. Serabi Gold recently made a copper-gold porphyry discovery on its extensive exploration licence. The company is headquartered in the United Kingdom with a secondary office in Toronto, Ont., Canada.

Qualified persons statement

The scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a director of the company. Mr. Hodgson is an economic geologist by training with over 30 years of experience in the mining industry. He holds a BSc (honours) geology, University of London, an MSc, mining geology, University of Leicester, and is a fellow of the Institute of Materials, Minerals and Mining, and a chartered engineer of the Engineering Council of U.K., recognizing him as both a qualified person for the purposes of Canadian National Instrument 43-101 and by the Alternative Investment Market Guidance Note on Mining and Oil & Gas Companies dated June, 2009.

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