Vesting and New Awards under the Restricted Share Unit (“RSU”) Plan

This section is Partnership Content suppliedThe content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Article contentReykjavík, April 10, 2026 (GLOBE NEWSWIRE) — (“Amaroq” or the “Company“)Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentVesting and New Awards under the Restricted Share Unit (“RSU”) PlanArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentTORONTO, ONTARIO – 10 April 2026 – Amaroq Ltd. (AIM, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, announces that on 10 April 2026, in accordance with the RSU Plan, it granted a total of 2,254,467 RSUs to certain directors and employees of the Company (the “Awards”).Article contentArticle contentThe Awards consist of a right to receive common shares in the Company if the time and performance targets, applicable to the Awards, are met. Each RSU is granted under, and governed in accordance with, the rules of the Company’s Restricted Share Unit Plan (the “RSU Plan”).Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentPerformance period is from 1 January 2026 to 31 December 2028.

The Measurement Date is 31 December 2028. The award to the Chief Executive Officer is subject to a two year post-vesting holding period.Article contentDetails of awards to persons discharging managerial responsibilities are disclosed below.Article content1.Details of the person discharging managerial responsibilities/person closely associateda)Name: 1) Eldur Olafsson 2) Ellert Arnarson 3) Joan Plant 4) Edward Westropp2.Reason for the notificationa)Position/status: 1) CEO 2) CFO 3) Interim COO 4) Chief Corporate Development & Strategy Officerb)Initial notification/AmendmentInitial notification3.Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameAmaroq Ltd.b)LEI:213800Q21S5JQ6WKCE704.Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducteda)Description of the financial instrument, type of instrument: Identification code:Restricted Share Unitsb)Nature of the transaction:Award in accordance with the RSU Plan.c)Price(s) and volume(s):Price – n/a.Volume(s): 1) 1,039,199 2) 350,730 3) 328,127 4) 320,128d)Aggregated information: Aggregated volume:Average price:2,038,184N/Ae)Date of the transaction(s):April 10, 2026f)Place of the transactionXOFFArticle contentArticle contentVesting of the RSUsArticle contentFollowing the release made on 31 March 2025 regarding the grant of an award to Edward Westropp (Chief Corporate Development & Strategy Officer) under the Company’s RSU Plan, a total of 20,927 RSUs have vested. Following the sale of a portion of the shares to cover applicable tax obligations arising on vesting, Edward Westropp’s holding amounts to 13,114 shares.Article contentDEALING NOTIFICATION PERSONS DISCHARGING MANAGERIAL RESPONSIBILITYArticle content1.Details of the person discharging managerial responsibilities/person closely associateda)Name:Edward Westropp2.Reason for the notificationa)Position/status:Chief Corporate Development & Strategy Officerb)Initial notification/AmendmentInitial notification3.Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameAmaroq Ltd.b)LEI:213800Q21S5JQ6WKCE704.Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducteda)Description of the financial instrument, type of instrument:Identification code:Common shares of no par value in Amaroq Ltd.ISIN: CA02311U1030b)Nature of the transaction:1) Vesting in accordance with the RSU Plan 2) Sale of common shares of no par value in Amaroq Ltd. to cover taxes in earlier vesting of RSUsc)Price(s) and volume(s): Price(s) Volume(s)1) CAD 0 20,927 2) GBP 0.97 9,907 d)Aggregated information:Aggregated volumeAverage price 1) 20,927, CAD 0 2) 9,907, GBP 0.97e)Date of the transaction(s):April 08, 2026f)Place of the transactionXOFF, AIMTrending BYD to open 20 car dealerships in Canada this year Autos This creative money transfer strategy among family members could raise red flags with CRA Personal Finance Posthaste: More Canadians desperate for tax refund to plug holes in their finances News Toronto police charge man in 2024 shooting at home of GFL CEO Dovigi News How the global energy crisis is shaking Canada from coast to coast — and could leave a lasting legacy Oil & Gas Article contentTotal Voting RightsArticle contentApplication will be made for admission of the RSU Shares to trading on AIM. It is expected that admission will become effective and that dealings in the RSU Shares will commence on AIM at 8:00 a.m. on 14 April 2026.Article contentFollowing admission of the RSU Shares, the Company’s total issued share capital will consist of 465,462,030 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.Article contentEnquiries:Amaroq Ltd. C/O Ed Westropp, Chief Corporate Development and Strategy Officer+44 (0)7385 755711ewe@amaroqminerals.comArticle contentPanmure Liberum Limited (Nominated Adviser and Corporate Broker)Scott MathiesonFreddie Wooding+44 (0) 20 7886 2500Article contentCanaccord Genuity Limited (Corporate Broker)James AsensioHarry Rees+44 (0) 20 7523 8000Article contentCitigroup Global Markets Limited (Corporate Broker)Andrew Miller-JonesDavid Herring+44 (0) 20 7986 4000Article contentArticle contentCamarco (Financial PR)Billy CleggElfie KentFergus Young +44 (0) 20 3757 4980Article contentFurther Information: Article contentAmaroq’s principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland Companies Act.Inside InformationArticle contentThis announcement does not contain inside information.Article contentArticle contentArticle contentArticle contentArticle contentArticle contentShare this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. BYD to open 20 car dealerships in Canada this year Autos This creative money transfer strategy among family members could raise red flags with CRA Personal Finance Posthaste: More Canadians desperate for tax refund to plug holes in their finances News Toronto police charge man in 2024 shooting at home of GFL CEO Dovigi News How the global energy crisis is shaking Canada from coast to coast — and could leave a lasting legacy Oil & Gas