BWA Group Plc - Interim Financial Results for the Six Months to 31 December 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/31 20 March 2026 BWA Group PLC ("BWA" or the "Company") Interim Financial Results for the Six Months to 31 December 2025 BWA Group Plc [AQSE:BWAP], which has mineral exploration licences in bothCameroonandCanadaat various early stages of development and is quoted on London's Aquis Growth Market, announces its unaudited financial results for the Interim Period of six months to 31 December 2025, following the announcement of its Audited Accounts for the year to 30 June made on 17 November 2025. A copy of this announcement can be viewed on the Company's website,http://www.bwagroupplc.com/bwa-announcements.html. Chairman's Statement In the first half of its financial year, to 31December 2025, the Company continued to invest in its mineral sands exploration permits in Cameroon and, notably, signed an Option and Earn-In Agreement with Aurum Discovery Holdings Limited and Global Acquisitions SARL to acquire a 70% equity interest in the Aracari Gold Project in Cameroon. Following the announcement of contract signature on 15September 2025, ground truthing reconnaissance work was undertaken in November 2025. This produced 193 samples that were sent for assay in December. The results were announced on 21January 2026, showing multiple high -grade findings in the zone next to Oriole Resources' significant MRE of 870,000 oz. Gold is present across the 62km of the licenced areas. Further work will be undertaken in the current half year to determine the extent of deposits and to identify priority areas for drilling. Jonathan Wearing, Chairman The Board are responsible for the contents of this announcement. Ends - For further information: BWA Group PLC +44 (0) 7770 225253 James Butterfield, Managing Director enquiries@bwagroupplc.com Jonathan Wearing - Chairman Allenby Capital Limited +44 (0) 20 3328 5656 Corporate Adviser Nick Harriss/Nick Naylor Oberon Investments Limited Adam Pollock/Nick Lovering +44 (0) 20 3179 5300 INCOME STATEMENT Notes 6 months 6 months ended 12 months ended 31 December ended 30 June 31 2024 2025 December Unaudited Audited 2025 £ £ Unaudited £ Administrative (185,986) (162,171) (320,588) expenses (185,986) (162,671) (320,588) Other operating 163,310 160,000 320,000 income Gain/(loss) on (55,618) - (52) revaluation of investments Operating (78,294) (2,671) (640) profit/(loss) Interest receivable 262 461 735 and similar income (78,032) (2,210) 95 Interest payable and (2,110) (3,066) (6,184) similar expenses Profit/(loss) on ordinary activities before and after taxation and retained for the period (80,142) (5,276) (6,089) Earnings/(loss) per ordinary share: Basic (pence) 2 (0.008) (0.01) (0.001) Diluted (pence) 2 (0.008) (0.01) (0.001) All amounts relate to continuing activities. STATEMENT OF OTHER COMPREHENSIVE INCOME Notes 6 months 6 months ended 31 12 months ended 30 ended December 2024 June 2025 Audited 31 December Unaudited £ 2025 £ Unaudited £ Profit/(loss) (80,142) (5,276) (6,089) for the period Other - - - comprehensive income Total comprehensive profit/(loss) for the period (80,142) (5,276) (6,089) BALANCE SHEET Notes At 31 At 31 At 30 June 2025 December December Audited 2025 2024 Unaudited Unaudited £ £ £ Fixed Assets Investments 3,117,205 2,744,433 3,045,967 Current Assets Debtors and 1,580,999 1,037,092 1,221,538 prepayments Cash at bank and 47,666 55,238 20,354 in hand 1,628,665 1,092,330 1,241,892 Creditors: amounts falling due within one year (1,139,330) (370,826) (603,986) Net current 489,335 721,504 637,906 assets/(liabilities ) Total assets less 3,306,540 3,465,937 3,683,873 current liabilities Creditors: amounts falling due after one year (25,991) (26,076) (23,182) Net assets 3,580,549 3,439,861 3,660,691 Capital and reserves Called up share 3 4,851,328 4,663,018 4,851,328 capital Share premium 4 99,621 66,288 99,621 Capital redemption 4 288,625 288,625 288,625 reserve Other reserve 4 (83,125) (300,541) (83,125) Equity reserve 4 152,865 370,333 152,865 Retained earnings 4 (1,728,765) (1,647,862) (1,648,623) Shareholders' 3,580,549 3,439,861 3,660,691 funds CASH FLOW STATEMENT Notes 6 months 6 months ended 12 months ended ended 31 December 2024 30 June 2025 31 December Unaudited Audited 2025 £ £ Unaudited £ Cash flows from (99,501) (66,003) (353,179) operating activities Cash flows from investing activities Loans to (430,699) (471,689) (627,577) subsidiary undertakings Interest received 262 461 735 Net cash from (430,437) (471,228) (626,842) investing activities Cash flows from financing activities New loans in 560,000 100,000 320.000 period Loans repaid (2,750) (2,669) (14,763) Issue of shares - 450,000 650,000 Net cash from 557,250 547,331 955,237 financing activities Increase/(decrease) in cash and cash equivalents 27,312 10,100 (24,784) Cash and cash equivalents at beginning of 20,354 45,138 45,138 period Cash and cash 47,666 55,238 20,354 equivalents at end of period NOTES TO THE FINANCIAL INFORMATION 1. Status of these accounts The interim accounts for the period from 1 July 2025 to 31 December 2025 are unaudited. The financial information set out in this statement does not constitute statutory accounts within the meaning of the Companies Act 2006. 2.         Earnings per ordinary share Basic and diluted earnings per share figures are based on the following profits / (losses) and numbers of shares: 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2025 2024 2025 Unaudited Unaudited Audited £ £ £ Profit/ (loss) £ (80,142) £ (5,276) £ (6,089 before tax Weighted average 970,265,698 881,674,545 909,500,865 number of shares for The purpose of basic earnings per share Weighted average 970,265,698 881,674,545 909,500,865 number of shares for the purpose of diluted earnings per share 3. Share capital At At At 31 December 2025 31 December 2024 30 June 2025 Unaudited Unaudited Audited £ £ £ Allotted, called 4,851,328 4,663,018 4,851,328 up and fully paid 970,265,698 ordinary shares of 0.5p (31 December 2024: 923,603,530; 30 June 2025: 970,265,698) 4. Reserves Share Capital Other Equity Retained Total premium redemption reserve reserve reserve Earnings £ £ £ £ £ £ At 1 January 23,858 288,625 (3,306,649) 4,353,063 (1,553,970) (195,073) 2024 Loss for the - - - - (94,066) (94,066) period 42,430 - (985,706) (943,276) Loan note conversion 3,006,282 (3,006282) - Loan note cancellation    Loan note - - - 9,258 - 9,258 interest Reserves - - (174) - 174 - transfer At 31 66,288 288,625 (300,541) 370,333 (1,647,862) (1,223,157) December 2024 Loss for the - - - - (813) (813) period Loan note - - 217,468 (217,468) - - cancellation Loan note - - - - - - interest Share 33,333 - - - - 33,333 capital issued Reserves - - (52) - 52 - transfer At 30 June 99,621 288,625 (83,125) 152,865 (1,648,623) (1,190,637) 2025 Loss for the - - - - (80,142) (80,142) period At 31 99,621 288,625 (83,125) 152,865 (1,728,765) (1,270,779) December 2025 5.Valuation of Investments The whole of the Company's investment in Cameroon, including loans made to BWA Resources (UK) Limited and BWA Resources (Cameroon) Limited, is carried in the balance sheet at £2,941,424. The Company's investment in Kings of the North Corp (`KOTN') is valued and under review at £1,362,382 plus an intercompany loan account of £286,226. The Company is also carrying £81,857 in relation to its Aracari project. The valuation of unlisted investments requires the Directors to make judgments, estimates and assumptions that are believed to be reasonable under the circumstances, but which affect the reported fair value of those investments. The recoverability of the investments in Cameroon and KOTN is dependent on the future profitability of the underlying businesses. The Directors have reviewed the current position and, after taking into account a number of factors, believe that the valuations at 31 December 2025 remain appropriate. 2026.03.16 Interims FINAL.pdf (https://mb.cision.com/Public/22539/4323864/bddf5ea200f4aea6.pdf) This information was brought to you by Cision http://news.cision.com https://news.cision.com/bwa-group-plc/r/interim-financial-results-for-the-six-months-to-31-december-2025,c4323864 The following files are available for download: https://mb.cision.com/Public/22539/4323864/83bf78c0c0e66ae0.pdf 2026 03 16 Interims FINAL