Mr. William Dawes reports

MKANGO ANNOUNCES ISSUE OF SHARES FOLLOWING VESTING OF RESTRICTED SHARE UNITS

Following the resignation of former chief financial officer Robert Sewell, as announced on Feb. 13, 2026, Mkango Resources Ltd. has issued 2,038,589 common shares of the company to Mr. Sewell following the vesting of 2,038,589 restricted share units (RSUs).

Application to AIM (Alternative Investment Market) and total voting rights

Application has been made for the new common shares, which will rank pari passu with the company's existing shares, to be admitted to trading on AIM. It is expected that admission will become effective and dealings in the new common shares will commence at 8 a.m. on or around Feb. 23, 2026. The new common shares will also be listed for trading on the TSX Venture Exchange.

In accordance with the disclosure guidance and transparency rules, the company hereby notifies the market that, immediately following admission, its issued and outstanding share capital will consist of 349,231,496 shares. The company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the company under the Financial Conduct Authority's disclosure and transparency rules.

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango's corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito, which is owned 79.4 per cent by Mkango and 20.6 per cent by Cotec Holdings Corp., and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100-per-cent interest in HyProMag Ltd. and a 90-per-cent direct and indirect interest (assuming conversion of Maginito's convertible loan) in HyProMag GmbH, focused on short-loop rare earth magnet recycling in the United Kingdom and Germany, respectively, and a 100-per-cent interest in Mkango Rare Earths U.K. Ltd., focused on long-loop rare earth magnet recycling in the United Kingdom through a chemical route.

Maginito and Cotec are also rolling out HPMS (hydrogen processing of magnet scrap) recycling technology into the United States through the 50/50-owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced-stage Songwe Hill rare earths project in Malawi and the Pulawy rare earths separation project in Poland. Both the Songwe and Pulawy projects have been selected as strategic projects under the European Union Critical Raw Materials Act. Mkango has signed a business combination agreement with Crown PropTech Acquisitions (CPTK) to list the Songwe Hill and Pulawy rare earths projects on the Nasdaq Stock Market through a special-purpose acquisition company (SPAC) merger under the name Mkango Rare Earths Ltd. (proposed business combination).

We seek Safe Harbor.