TIP — THE INITIATES Disclosures

* The Initiates Plc (TIP) has acquired an additional 20% stake in The Initiates Uganda (TIU) for $2.02 million, bringing its total ownership to 55% and making TIU a full subsidiary. * The investment provides TIP with direct access to the East African oil and gas market and is expected to boost company earnings through US Dollar-denominated revenue. * Following the acquisition, TIP will hold three board seats and veto rights on capital expenditures exceeding $500,000, with TIU’s financial results to be equity-accounted starting in Q4 2026.