Annual General and Special Meeting ('AGM') Results

Rhea-AI Impact

(Moderate)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

Amaroq (OTCQX: AMRQF) held its Annual General and Special Meeting on 7 May 2026. Shareholders approved all motions, including director elections, reappointment of auditors, adoption of new by-law #3, conditional cancellation of AIM admission to enable a proposed move to the LSE Main Market, and amended equity incentive plans.

Key vote highlights: reappointment of auditors 99.96% for; cancellation of AIM admission 99.96% for; amended stock option and RSU plans approved with ~90.7% support. The company’s principal asset remains the 100% Nalunaq gold mine.

Positive

Shareholder approval for AIM cancellation at 99.96% for
Reappointment of auditors with 99.96% for
Adoption of new By-Law #3 with 99.97% for
Director slate largely supported; multiple directors >97% for

Negative

Amended stock option and RSU plans passed with only ~90.7% support
Two directors received ~8–10% opposition (potential governance concern)

05/07/2026 - 04:39 PM

Reykjavík, May 07, 2026 (GLOBE NEWSWIRE) -- (“Amaroq” or the “Corporation” or the “Company”)

Annual General and Special Meeting ('AGM') Results

TORONTO, ONTARIO – 7 May 2026 – Amaroq Ltd. (AIM, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, announces the results of voting at its AGM held on May 7, 2026.

Shareholders voted in favour of all items put forward at the AGM.

AGM Results

The following proxy votes for the AGM were received from the shareholders:

Motion	Description	Votes For	% Votes Cast	Against	Withheld/ Abstain
1	Election of directors
01	Graham Stewart	119,709,651	97.62%	2,924,494	0
02	Eldur Olafsson	121,723,679	99.26%	910,466	0
03	Sigurbjorn Thorkelsson	115,264,861	93.99%	7,369,284	0
04	David Neuhauser	112,326,213	91.59%	10,307,932	0
05	Line Frederiksen	122,614,682	99.98%	19,463	0
06	Warwick Morley-Jepson	121,711,033	99.25%	923,112	0
2	Re-appointment of Auditors	127,435,881	99.96%	0	48,844
3	Conditional Repeal of By-Law #2 and Adoption of New By-Law #3	122,599,200	99.97%	31,445	0
4	Conditional Disapplication of Pre-Emption Rights	120,411,037	98.19%	2,217,608	0
5	Conditional approval of cancellation of admission to trading on AIM⁽¹⁾	122,589,481	99.96%	44,664	0
6	Approval of Amended Stock Option Plan	92,064,389	90.67%	9,476,210	0
7	Approval of Amended RSU Plan	92,081,924	90.69%	9,456,175	0

(1) required in accordance with the Corporation's existing By-Law #2 in advance of the proposed move from AIM to the Main Market of the LSE.

Enquiries:

Amaroq Ltd. C/O
Ed Westropp, Chief Corporate Development and Strategy Officer
+44 (0)7385 755711
ewe@amaroqminerals.com

Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Freddie Wooding
+44 (0) 20 7886 2500

Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
+44 (0) 20 7523 8000

Citigroup Global Markets Limited (Corporate Broker)
Andrew Miller-Jones
David Herring
+44 (0) 20 7986 4000

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980

Further Information:

Amaroq’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 Information

This announcement does not contain inside information.

FAQ

What did Amaroq (AMRQF) shareholders vote on at the 7 May 2026 AGM?

Shareholders approved all motions including director elections, auditor reappointment, new by-law adoption, AIM cancellation, and amended equity plans. According to Amaroq, each motion received majority support with key votes above 90%.

What does the AGM vote to cancel AIM admission mean for AMRQF shareholders?

The AIM cancellation vote is a required step to move to the LSE Main Market and was approved with 99.96% support. According to Amaroq, it is conditional and part of the proposed market transfer process.

How strongly were Amaroq directors supported in the AMRQF AGM votes on 7 May 2026?

Most directors received very high support, several above 97%. According to Amaroq, votes for individual directors ranged from about 91.6% to 99.98% in favor.

What was the vote result for Amaroq’s amended stock option and RSU plans (AMRQF)?

Both the amended stock option plan and RSU plan were approved with roughly 90.7% of votes in favor. According to Amaroq, each plan passed but attracted higher-than-average opposition versus other motions.

Did Amaroq reappoint auditors at the AGM and what was the vote? (AMRQF)

Yes. Auditors were reappointed with 99.96% of votes cast in favor. According to Amaroq, there were 48,844 votes withheld and effectively no votes recorded against.