Mandatory notification of subscription by primary insider

Oslo 18 July 2023: Reference is made to the stock exchange announcement published by Akobo Minerals AB ("Akobo" or the "Company") on 3 July 2023 and 18 July 2023 regarding the directed share issue to set off a convertible loan, together with any accrued interest, against issuance of new shares in the Company. The following primary insiders of the Company have today, on 18 July 2023, been allocated new shares in the Company at the offer price of NOK 5.29 per share through the directed share issue to set off the convertible loan. - Esmar AS, a company closely related to board member Carl Eide has been allocated 992,438 shares and will following completion of the directed share issue own 3,153,239 shares in the Company. - Pir Invest Holding AS, a company closely related to chairman of the board Hans Olav Torsen has been allocated 595,463 shares and will following completion of the directed share issue own 6,025,975 shares in the Company. This information is subject to disclosure requirements set out in the Market Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act Section 5-12. For further information, please contact: Jørgen Evjen, CEO Akobo Minerals Mob: +47 92 80 40 14 Mail: jorgen@akobominerals.com LinkedIn: www.linkedin.com/company/akobominerals Twitter: @akobominerals Web: https://akobominerals.com