Cobra Resources PLC (COBR.L) Warrant Accelerator

Notice to Holders of Warrants with an exercise price of 2p per share

The Company wishes to advise that the accelerator clauses governing warrants associated with the IPO Placing Warrants issued on 12 November 2018; and the Placing Warrants issued on 13 January 2020, have now been triggered by the Company given that VWAP of the Company’s share price was sustained at greater than 3p for five consecutive days. Friday 23rd October was the 5th consecutive day satisfying this condition and notice is now duly given to warrant holders.

In light of the logistical difficulties currently in place as the result of COVID-19 restrictions, the Directors have resolved to allow the holders of warrants until close of business on Monday 30 November 2020 to deliver notices of exercise and to accept notices of exercise by email.

Notices of exercise should be addressed to Ben Hodges, Company Secretary at [email protected] . If any warrant holder has lost, or is unable to access their warrant certificate please contact Mr Hodges in the first instance.

Warrants for which notice of exercise is not received by 5pm on 30 November 2020 will be forfeited.

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