Dear Investors,

In our recent quarterly report for the period ending 31st March 2026, Akora Resources continues to advance its Stage 1 high-grade Direct Shipping Iron Ore (DSO) project in Madagascar, showing strong margins with low upfront capital and operating costs. Our future plans include developing a premium-priced high-grade iron concentrate to support Green Steel initiatives.

Highlights from the quarter include an extension of high-grade iron mineralization at the Bekisopa Project, securing the Bekisopa Mining Permit, and engaging Grant Samuel Advisory to accelerate strategic financing and partnering initiatives. Our participation at the Mining Indaba and MiningNews Select conferences garnered positive feedback from investors and potential partners.

Additionally, the Company held cash reserves of approximately $0.5 million at the end of the quarter. Iron Ore prices remained resilient, closing at US$107/t. With estimated quarters of funding available at 0.83, Akora remains focused on operational continuity and business objectives.

For more information or to discuss further details, please feel free to reach out. Your support is vital as we continue to drive Akora Resources toward success.

Best regards,

[Authorized Signatory]

Board of Directors, Akora Resources Limited